Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Unlike its counterpart in Zimbabwe, though, the UAE has not been immune to the global economic downturn and its economic growth has been hampered in recent years as global demand for its products and services has decreased (UAE 2011). Currently, analysts expect continued slow economic growth for the UAE (Siddiqi 41) but further challenges remain including an enormous expatriate workforce and inflationary growth (UAE 2011). Likewise, unlike Zimbabwe, the UAE has enjoyed a stable political history that has helped attract international investment. In this regard, Heard-Bey emphasizes that, "Above all, it is the combination of the adopted federal form of government with the inherited role of the tribal rulers, which makes the UAE unique in terms of political structure and reality of governmental administration" (358).
Comparison of Zimbabwe and UAE Development and Economic Metrics
As can be readily discerned from the data in Table 1 and with selected metrics graphically depicted in Figures 1 through 3 below, Zimbabwe and the UAE are at two ends of the economic development spectrum -- indeed, Zimbabwe appears a just a blip compared to the UAE. Not surprisingly, the UAE's oil and gas resources have helped contribute to the country's transition into a modern free market economy, but there are also significant differences in the types of industries in each country, with Zimbabwe remaining a largely agricultural economy while the UAE has radically diversified its economy into a service industry that adds value rather than relying on harvest-based resources as with Zimbabwe.
Table 1
Comparison of Key Development and Economic Metrics: Zimbabwe and the UAE
Metric
Zimbabwe
UAE
Population
12,084,304
5,148,664
Area
390,757 sq km
83,600 sq km
Inflation rate (consumer prices)
3.7%
0.9%
GDP (purchasing power parity):
$5.457 billion
$246.8 billion
GDP (official exchange rate)
$7.474 billion
$301.9 billion
GDP - real growth rate
9%
3.2%
GDP - per capita (PPP)
$500
$49,600
Unemployment rate
95%
2.4%
Labor force - by occupation:
Agriculture: 66%
Industry: 10%
Services: 24%
Agriculture: 7%
Industry: 15%
Services: 78%
Population below poverty...
GDP (purchasing power parity): Zimbabwe vs. UAE
Figure 2. GDP (official exchange rate): Zimbabwe vs. UAE
Figure 3. GDP -- per capita (PPP).
Source: Based on tabular data in CIA World Factbook
Conclusion
The research showed that Zimbabwe is a developing nation faced with many of the same economic development problems that confront other African countries, including widespread corruption, hyperinflation and an agricultural-based economy that is subject to the whims of nature. In spite of relatively abundant natural resources, Zimbabwe continues to struggle to overcome these challenges and join the international community in more meaningful ways. Despite these challenges, though, the research also showed that Zimbabwe has experienced its first significant economic growth in more than a decade and analysts project continued growth provided that its staggering unemployment levels and political instability problems can be resolved. Nevertheless, the majority of Zimbabwe's population earns less than $2 a day while by very sharp contrast, the citizens of the UAE enjoy an annual income of nearly $50,000. In sum, with less than half as many people and a fifth of the geographic area, the UAE outdistances Zimbabwe across the board in terms of economic development, but such comparisons are meaningless unless the historical context in which such development has occurred is taken into account.
Works Cited
Heard-Bey, Frauke. (2005). "The United Arab Emirates: Statehood and Nation-building in a Traditional Society." The Middle East Journal 59(3): 357-359.
Mumbengegwi, Clever. Macroeconomic and Structural Adjustment Policies in Zimbabwe.
New York: Palgrave, 2002.
Siddiqi, Moin. (2006). "Gulf Cooperation Council Goes for Growth: High-Growth Gulf
Economies Are Poised for Continued Robust Expansion in 2007 and beyond. The Six-
Member Gulf Cooperation Council (GCC), Comprising Bahrain, Kuwait, Oman, Qatar,
Saudi Arabia and the United Arab Emirates (UAE) Could Develop into the World's 10th
Largest Economic Power within a Decade." The Middle East 373: 40-42.
"United Arab Emirates." (2011). CIA World Factbook. [Online]. Available: https://www.cia.
gov/library/publications/the-world-factbook/.
"Zimbabwe." (2011). CIA World Factbook. [Online]. Available: https://www.cia.gov / library/publications/the-world-factbook/.
Works Cited
Heard-Bey, Frauke. (2005). "The United Arab Emirates: Statehood and Nation-building in a Traditional Society." The Middle East Journal 59(3): 357-359.
Mumbengegwi, Clever. Macroeconomic and Structural Adjustment Policies in Zimbabwe.
New York: Palgrave, 2002.
Siddiqi, Moin. (2006). "Gulf Cooperation Council Goes for Growth: High-Growth Gulf
"United Arab Emirates." (2011). CIA World Factbook. [Online]. Available: https://www.cia.
"Zimbabwe." (2011). CIA World Factbook. [Online]. Available: https://www.cia.gov / library/publications/the-world-factbook/.
The Bantu Authorities Act of 1951 continued the government's social engineering projects. Black Africans were assigned to "homeland" states, independent regions with artificially created governments ("The History of Apartheid in South Africa"). The South African parliament officially ruled the homeland states, but residents of those areas were denationalized under the Bantu Authorities Act ("The History of Apartheid in South Africa"). Between 1976 and 1981, the government of South Africa denationalized
AFRICA'S PETROLEUM AND CHINA'S ECONOMIC GROWTH AND DEVELOPMENT How Africa's Petroleum Supply Is Important to China's Economic Growth and Development While China continues to grow, its oil demand is poised to grow rapidly. For China to ensure its oil security, it must obtain oil from the global world because it lacks adequate domestic resources to quench the thirsty appetite of the country's rapid economic development. Any approach for growth that the country
Origins, History of the IMF The International Monetary Fund was first conceived between July 1-22, 1944, at the United Nations Monetary and Financial Conference in Bretton Woods, New Hampshire. The conference was attended by representatives of 45 nations, which were called together in order to plan and lay the groundwork for a cooperative economic framework to solve global financial crises before they occur. One key reason for the conference was to
Third World Development What are the growing problems of ethnic tensions and violence in the developing world? It is impossible to state all of the growing problems of ethnic tension and violence in the developing world, because old tensions are constantly being revived. Because most instances of ethnic tension do not lead to large-scale violence, when violence does erupt, it can be a surprise, even to seasoned observers. Of course, it is
Causes of World Hunger Hunger may be one of the most serious and least understood of all world problems. Many people believe that hunger is the result of a lack of available food, which is a myth that is perpetuated by many well-meaning news organizations. Discussions of famine and drought make it seem as if hunger occurs because there is simply not enough food to feed people. The reality is that
Underdeveloped Societies with More Equal Distribution of WealthIntroductionThe idea that a country is developed or underdeveloped can be a deceptive one. For instance, most people imagine that developed nations or first world nations have succeeded at promoting human development. Yet what people do not often realize is that in developed nations, there can typically be found a large segment of the population that is underdeveloped or living in extreme poverty