...GDP- The GDP is a term used to measure economic progress and is calculated by the sum of all goods produced in a country during a year. The GPD only measures the goods and services made within a country. The GPD does not include profits made by overseas companies (O.C. Ferrell, G Hirt, F Ferrell 18). GDP per capita- The GDP per capita is a term used to measure the economic progress of the average citizen of a country. The GDP per capita is an approximation of the value of goods produced per person in a country, and is calculated by dividing the countries GPD by the total number of people in the country (Web Finance, Inc. 1). In 2003 U.S. CIA intelligence had information that Saddam Hussein, an enemy of the United States and dictator of Iraq had legitimate programs to build weapons of mass destruction, and was planning to pass those weapons onto the Al-Qaeda terrorist organization. U.S. intelligence believed that Al-Qaeda would ultimately smuggle those weapons into the United States and violently murderer millions of Americans (Lobe 1). To prevent such an atrocity from occurring in the United States, former President George W. Bush decided that the only course of action against these murderous terrorists was to defeat them abroad before they could attack us at home (Bush 7). On March 18th, 2003 the United States launched operation Iraqi Freedom. The goal of this operation was to remove Saddam Hussein from power, prevent Al-Qaeda from obtaining weapons of mass destruction, and...
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...“New trends of Middle East Economy” Middle East Economy Background Main economic sectors & main actors Current trends with alternative investment apart from oil industry” by Panakant Raschasri 5303640691 Middle East Economy Background The economic structure of Middle Eastern nations are different in the sense that while some nations are heavily dependent on export of only oil and oil-related products (such as Saudi Arabia, the UAE and Kuwait), others have a highly diverse economic base (such as Cyprus, Israel, Turkey and Egypt). Industries of the Middle Eastern region include oil and oil-related products, agriculture, cotton, cattle, dairy, textiles, leather products, surgical instruments, defense equipment (guns, ammunition, tanks, submarines, fighter jets, UAVs, and missiles). Banking is also an important sector of the economies, especially in the case of UAE and Bahrain. Main economic sectors & main actors Middle Eastern Oil-Exporting Countries The oil exporters comprise 12 countries: the six countries of the Gulf Cooperation Council (GCC—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates) and Algeria, Iran, Iraq, Libya, Sudan, and Yemen. Together, they account for 65 percent of global oil reserves and 45 percent of natural gas reserves. The countries are mainly exporters of oil, gas, and refined products, with oil and gas contributing about 50 percent to GDP and80 percent to revenue. They are diverse and differ substantially in terms of per...
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...Domestic Product (GDP) through reading newspaper articles, watching the media interview distinguished economists, or hearing the President address the nation on television. But what exactly does the GDP of a country measure and how can it be increased? The Gross Domestic Product is the primary indicator of the health of a country’s economy. Representing the total dollar value of all goods and services produced in a country during a given time, it is a way to define a country and is a standard to measuring the world’s economies. A country with a high GDP is said to be a well established, and most likely a developed, nation as their value of goods and services exceed the average markets worldwide. As one can imagine, economic production and growth has a large impact on nearly everyone within that economy. One approach to calculating GDP is to add up all of the income generated by employees, profits for companies, and taxes. Oil production and trade is a large part of the equation in that energy independence or dependence affects a country’s overall economic plan and trade deficit. To be a nation that exports oil means to have a certain level of independence and a way to generate revenue for the country. This study focuses on the effect of natural resources exports, in this case oil, on economic performance for the Middle East and North African countries. The objective is to examine the impact of oil exports and whether there is an association with a nation’s GDP (why). Since most...
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...World Economic and Financial Sur veys Regional Economic Outlook Middle East and Central Asia 09 I N T E R N A T I O N A L M O N E T A R Y M AY F U N D W o r l d E c o n o m i c a n d F in a n c i a l S u r v e y s Regional Economic Outlook Middle East and Central Asia •••••••••••••••••••••• 09 I N T E R N A T I O N A L M O N E T A R Y F MAY U N D ©2009 International Monetary Fund Cataloging-in-Publication Data Regional economic outlook : Middle East and Central Asia. – [Washington, D.C.] : International Monetary Fund, 2009. p. ; cm. – (World economic and financial surveys, 0258-7440) ISBN 978-1-58906-842-1 “MAY09.” Includes bibliographical references. 1. Economic forecasting – Middle East. 2. Economic forecasting – Asia, Central. 3. Middle East – Economic conditions. 4. Middle East – Economic conditions – Statistics. 5. Asia, Central – Economic conditions. 6. Asia, Central – Economic conditions – Statistics. I. International Monetary Fund. II. Series: World economic and financial surveys. HC415.15.R445 2009 Please send orders to: International Monetary Fund, Publication Services 700 19th St. N.W., Washington, D.C. 20431, U.S.A. Tel.: (202) 623-7430 Fax: (202) 623-7201 E-mail: publications@imf.org Internet: www.imfbookstore.org The views expressed in this publication are those of the contributors...
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...LB5228 ASSIGNMENT TASK 2 KARTHIK NAMANI 12806313 KARTHIK NAMANI 12806313 An essay On: The rise of South East Asia and the effect of China Submitted to: Professor Chris Leggett An essay On: The rise of South East Asia and the effect of China Submitted to: Professor Chris Leggett The rise of South-east Asia and the effect of China Contents I, Introduction II, Body 1. Literature review: 2. South-east Asia Economic potentials 3. South-east Asia recent Economic performance 4. The likelihood to become significant players in the global economy Prospects and assessments 5. Implication on global economic III, Conclusion I, Introduction Asia is the most dynamic region in the world economy at present. The development of Asia is twice the rate when compared to the other regions. The policy orientation, which stresses free movement of capital, goods and services across the national boundaries are the reasons for the growth which is possible now. The economic efficiency and transfer of technology which foster shifts in productions and comparative advantages are the results of the enhancement. (Chong) Because of the Global Financial Crisis, Southeast Asia has been the Gold rush modern- day as international companies clamor to get a piece of the action. As the major part of the young population of 600million and the increasing middle class people are the few bright spots for economic growth and investment returns. Unfortunately, according to my...
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...3 4‐ Global Outlook & Analyzing Regions 3 5‐ Regions' GDP% (Annual Growth) 4 6‐ Global Consumer Demand 5 7‐ Global Competitiveness 5 8‐ Target Country : China (Shanghai) 6 A‐ Economic Growth (GDP%) 6 B‐ Disposable Income 7 C‐ Consumer Behavior 7 D‐ Technology 7 9‐ Risk Factors 8 10‐ Recommendations 8 References 9 Appendices : 11 Appendix 1 : SWOT Analysis for Chinese Market 11 Appendix 2 : PESTLE Analysis 12 Appendix 3 : Useful Charts and Diagrams 13 1 1‐ Executive Summary In response to the good world economic growth, the global restaurant industry is increasing in a striking way. In order to preserve higher sales and revenues, companies must seek new strategies to attain success. One of those good strategies is to expand in countries that possess healthy economic situation. The Cheesecake Factory already has well‐recognized footsteps in America and Middle East, but still needs to adjust with the high competition in these regions to get distinguished. Therefore, one of the regions that the Cheesecake Factory has no presence in it is China, the country with the highest population in the world. By entering the Chinese market, the restaurant would be able to target the upper middle class...
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...Current Event Paper: Arab Spring 07 December 2014 Wilmington University Abstract What is most interesting about what began in the smallest country in Northern Africa is that it had escalated to the most sweeping movement that changed the face of the Middle East for years to come. The Arab spring began to wield its head around December of 2010 in Tunisia but was truly set off once Mohamed Bouazizi a local vendor was humiliated in public by a police officer and was not permitted to sell his fruits (Staff, 2011). This has proven to be a normal practice in Tunisia, in a country where most of its population is college educated. They are unlike other Arab nations in neighboring areas; the majorities of all Tunisians are educated and have been education abroad. This was a wide spread practice across the region with regard to the inhabitants of these countries, the cruel and unjust treatment from these authoritarian leaders, corrupted law enforcement, and suppression of their religious leaders by their very own law enforcement agents. Being able to witness this first hand, observing the way of life within the region and oppressive living conditions they are subjected too, while their monarchs, military and state leaders live a very lavish life. While reviewing why the Arab spring happened, the impact it has had in the Middle East and on its economic system, we will analyze the outcome and the overall consequence it will have on the region. We will also touch on the domino effect...
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...When we look at developed country we can see the innovation and adaptability within the government and the citizens within. The fundamental to the success of the wealthy and industrialized countries is the capability to account for variable change. The economic and social environment is rapidly changing, a country can sustain stability only if it can effectively anticipate and respond to the changing demands (Brown, 2011). In the Middle East, stability is measured in terms of the politics, economics, and social tensions that shape the nation. The political stability, levels of democracy, voter participation, and press freedom represent a traditional Western approach to evaluating the legitimacy of governance (Cordesman, 2011). The Middle Eastern countries do have valuable information on how to govern because they do try to mirror the Western approach on government. They still need better and more sophisticated measures for the government to put into practice (Cordesman, 2011).They need a political system where there is the existence of groups with different ethnic, religious, or political background that have a credible voice that hold the capabilities to govern and deal with the underlying problems in the region. A key challenge for the Middle East’s stability is how to reshape the government to meet the popular need (Cordesman, 2011). Just as we recently seen in Egypt, the United States had to enforce the power of the people’s voice by forcing former president, Hosni Mubarak...
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...Yiheyis | Clark Atlanta University Submitted By: Quincy Williams December 2,2014 Lebanon vs. Egypt In this paper I will compare and contrast the countries of Egypt and Lebanon. I will explore both of the country’s economic history starting in 1980. The basis of this paper will be on the country’s global development indicators and what they tell us about that particular country. The majority of the research done in this paper was done through the world-bank website as well as the economy watch website. First I would like to provide some background on Lebanon. Lebanon is a Middle Eastern country in the west of the Asian continent that shares its borders with Syria, Israel and Mediterranean Sea. Most of Lebanon’s land is mountainous. However, the Beqaa valley, with its fertile soil, remains the source for agricultural products. Lebanon has an area of 10,452 square km and population of 4,224,000. The Lebanese economy is noted for its resilience, having withstood wars and invasions with Israel as well as internal sectarian clashes and at times dominating influence from Syria. It is this resilience that helped Lebanon achieve 9% growth during the Great Financial Crisis. The growth was nurtured by controlled banking regulations that restricted credit and therefore, its impact during the recession. As of 2011, the World Bank classified the middle class in Lebanon as those people who earn between $15,000 and $27,000 annually. But the World Bank statistics tell Lebanon’s actual story. Citing...
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...CHAPTER 1: A GENERAL VIEW ABOUT THE MIDDLE-EAST 1. General Overview of Middle East The Middle East is a region that encompasses Western Asia and North Africa. It is often used as a synonym for Near East, in opposition to Far East. The corresponding adjective is Middle-Eastern and the derived noun is Middle-Easterner. ▪ Traditional definition of the Middle East: Egypt, Syria, Israel, Lebanon, Jordan, Iraq, Saudi Arabia, Kuwait, Bahrain, Qatar, Turkey, Cyprus, UAE, Oman, Yemen. ▪ Population: estimated 2010 about 350 million. ▪ Situated between Asia, Europe and Africa. Throughout its history, the Middle East has been a major centre of world affairs. ▪ The Middle East generally has an arid and hot climate. ▪ In modern times the Middle East remains a strategically, economically, politically, culturally and religiously sensitive region. The Middle East expected economic growth rate is at about 4.1% for 2010 and 5.1% in 2011. [pic] 2. Religions The Middle East is very diverse when it’s come to religions, many of which is originated there. Islam is the largest religion. Besides, Judaism and Christianity are also important there. There are still many branches in each religion. 1.3 Languages Three top languages based on numbers of speaker: ▪ Arabic: Arabic is the most widely spoken language in the Middle East, the influence of Arabic has been most important in Islam countries such as: Saudi Arabia, Egypt, Lebanon, Kuwait...
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...ECW2730 Assignment 1: Population Growth, Real GDP Per Capita and the Solow Model For this assignment, twenty developing countries with high population growth in the 1960s or at the beginning of the current century are selected, along with another twenty developing countries with lower population growth in recent years. Table 1 and Table 2 shows the selected countries’ real GDP per capita, as well as their population growth rates between 1960-2012, whereby the differences are computed by averaging out the population growth rates on a ten-year basis, except for the last fraction which is on a 13-year basis, that is, between year 2000 to 2012. For instance, the population in Romania in 1960 and 1969 is 18,406,900 and 20,009,140. The growth rate is calculated by the formula: Population Growth Rate= V Present-V PastV PastN ×100 where V Present is present or future value, V Past is past or present value and N equivalent to the number of years (Parker, 2002). Hence the growth rate of 1960-1969 is calculated as follows: Population Growth Rate 1960-1969= 20,009,140-18,406,900V Past10 = 0.87% The calculation proceeds with the 1970-1979, 1980-1989, 1990-1999, and lastly, 2000-2012 population growth rates, and final figure taken is the average of these 5 rates. Table 1 – Population Growth Rate (1960-2012) and Real GDP Per Capita in 2012 (USD) of 20 Developing Countries with high population growth rates in the early century (Source adopted from IndexMundi, 2013 Table 2...
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...Comparison on economic performance of Egypt and USA History/Background Egypt is the 29th biggest country in the world, covering a total area of 1,002,450 sq. km. It is a country in the Middle East which linked with the northeast Africa, on the Mediterranean Sea, at a crossroad between Africa, Asia and Europe. It is bordered to the east by the Red Sea, Palestine and Israel to the north-east, Libya to the west, and Sudan to the south. The country is divided into 4 main geological areas which is the Nile Valley and Delta, Western Desert, Eastern Desert, and Sinai Peninsula. On the other hand, United States is the 4th biggest country in the world. The U.S. is a country of 50 states covering a vast swath of North America, with Alaska in the extreme Northwest and Hawaii extending the nation’s presence into the Pacific Ocean. Major cities include New York, a global finance and culture center, and Washington, DC, the capital, both on the Atlantic Coast; Los Angeles, famed for filmmaking, on the Pacific Coast; and the Midwestern metropolis Chicago. Population The population of Egypt is estimated at 85 million as of October 2015. Egypt's population is equivalent to 1.16% of the total world population (7.3 billion people). Egypt ranks number 15 in the list of countries by population. While the total population in United States is estimated at 325.8 million people as of October 2015 and it represent 4.46% of the total world population which arguably means that one person...
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...East African Investment Trends leading to higher returns for East African portfolios. Purpose The purpose of this paper is to be less comprehensive but more general about the trends that are developing in the East African Community expected to contribute to above average investment returns in both the short and long-term. While the information provided serves as a base of knowledge and introduction to the region, there is an expansive amount of information related to the topics below through the World Bank, the African Development Bank Group, African Investment Associations, and numerous periodicals. Specific information on privatizations is available at the Multilateral Investment Guarantee Agency’s PrivatizationLink. Introduction Africa is a dynamic landmass. Home to some of the world’s richest and poorest people in the world, this little explored continent has a unique story and seen a struggling path of development leaving more than 600 million inhabitants living on less than $2 a day PPP. Although much of Africa is, developmentally speaking, several generations behind the United States and other western nations, there is reason to believe that returns from human and physical infrastructure, foreign direct investment, and international aid organizations will set the stage for sustainable high growth opportunities in the future. While the continent as a whole shares in the struggles for development, the size of the landmass is four times that of the US and is by no means...
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...lcavusoglu1@student.gsu.edu 1. GDP per capita as an indicator: What are the limitations of this statistic in the context of emerging markets? GDP per capita is often used as an approximation of a country's prosperity. However, this approximation excludes significant factors such as the distribution of income, home production, underground economy, and social cost of production, in making a decision on the well-being of a country's inhabitants. First, emerging markets generally have an unbalanced distribution of income. There may be significant gaps in income between various groups of the society. In such markets, GDP per capita is a misleading indicator of the economic situation because a wealthy minority may hold a large share of GDP. GDP per capita might underestimate the fraction of society who has an income below the poverty threshold. Furthermore, the inequality in income distribution gives rise to a higher rate of increase in underground economy, which may make up a large fraction of GDP generated in a country. Consequently, many places have a higher GDP than what is reported. Second, there is a large domestic production in developing countries such as Turkey, which is not calculated in GDP since these products are not sold on the market. Homegrown vegetables and knit clothing are examples of such domestic products. Last, the social cost of production such as environmental pollution and depreciation of natural resources should be deducted from the calculated GDP. China was the world’s...
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...from very weak levels in Europe Inflation and unemployment trends are on divergent paths across major economies Net capital flows and net financial exposures (width of arrows proportional to amounts in billions of U.S. dollars) Developing country activity is strengthening but at a modest pace Manufacturing surveys are pointing to continued expansion in East Asia and South Asia Output gaps remain small in most developing regions Capital flows have recovered strongly after a steep fall in February Currency depreciations were more modest during the winter turmoil among countries that reduced external imbalances Distribution of changes in developing country bilateral exchange rates with the US$ Most developing country equity markets have fully recouped losses since mid-2013 Borrowing costs have fallen since the start of the year for developing countries Metal prices have extended their falls while food prices have turned up Commodity exporters have suffered significant terms of trade losses over the past year If 2014 is an El Niño year, global grain yields could suffer, pushing up prices The contribution of high income countries to global trade volumes will more than double China is a major export destination for many developing countries Growth in East Asia has remained robust despite a slowing in China, its main trading partner Default...
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