Cite the most obvious advantages and disadvantages of each of the two enclave economies strengths and weaknesses and back them up with data

Enclave economies are defined as regions that are highly dependent on a single industry or resource for their economic growth and development. There are several advantages and disadvantages associated with this type of economy.

Advantages of Enclave Economies:

1. High levels of economic growth: Enclave economies can experience high levels of economic growth due to the concentration of resources in a particular industry. For example, the oil industry in Saudi Arabia has led to significant economic growth, with the country's GDP per capita increasing from $4,000 in 1980 to $23,000 in 2019.

2. Increased investment: Enclave economies can attract significant investment in the industry or resource they rely on. This can lead to increased infrastructure development, job creation, and improvements in technology. For instance, the mining industry in Australia has attracted significant foreign investment, with mining companies investing $30 billion in the industry in 2017.

Disadvantages of Enclave Economies:

1. Vulnerability to external shocks: Enclave economies are highly vulnerable to external shocks that can affect the industry or resource they rely on. For instance, the decline in oil prices in 2014 led to a significant economic downturn in Saudi Arabia, with the country's GDP growth rate dropping from 3.5% in 2014 to 0.7% in 2017.

2. Limited diversification: Enclave economies can struggle to diversify their economies due to their dependence on a single industry or resource. This can make them more susceptible to economic shocks and can limit their ability to adapt to changing market conditions. For example, the mining industry in South Africa has struggled to diversify its economy, with the industry accounting for 60% of the country's exports in 2019.

In conclusion, enclave economies have both advantages and disadvantages. While they can experience high levels of economic growth and attract significant investment, they are also vulnerable to external shocks and can struggle to diversify their economies.