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Asian Economy

 

In terms of gross domestic product, Asia's largest economy is Japan, and the smallest is East Timor, (although as of 2005 there is no reliable data for Iraq or North Korea). Japan is the world's second largest economy, and North Korea is one of the poorest. As of 2005, China's and India's economies have been growing rapidly.

Asia is by a considerable margin the largest in the world, and is rich in natural resources, such as petroleum and iron.

High productivity in agriculture, especially of rice, allows high population density of countries in the warm and humid area. Other main agricultural products include wheat and chicken.

Forestry is extensive throughout Asia except Southwest and Central Asia. Fishing is a major source of food in Asia, particularly in Japan.

 

Manufacturing in Asia has traditionally been strongest in East and Southeast Asia, particularly in China, Taiwan, Japan, South Korea and Singapore. The industry varies from manufacturing cheap goods such as toys to high-tech goods such as computers and cars. Many companies from Europe, North America, and Japan have significant operations in the developing Asia to take avantage of its abundant supply of cheap labor.

One of the major employers in manufacturing in Asia is the textile industry. Much of the world's supply of clothing and footwear now originates in Southeast Asia.

Asia has three main financial centers. They are in Hong Kong, Singapore and Tokyo. Call centers are becoming major employers in India, due to the availablity of many well-educated English speakers. The rise of the business process outsourcing industry has seen the rise of India and China as the other financial centers.

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This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Asian Economy".