query: which sector dominates developed economies such as the united states

pos: Economy of the United States trillion. The net deficit in goods was $807 billion, while the net surplus in services was $255 billion. Americas ten largest trading partners are China, Canada, Mexico, Japan, Germany, South Korea, United Kingdom, France, India and Taiwan. The goods trade deficit with China rose from $347 billion in 2016 to $376 billion in 2017, an increase of $30 billion or 8%. In 2017, the U.S. had a goods trade deficit of $71 billion with Mexico and $17 billion with Canada. According to the KOF Index of Globalization and the Globalization Index by A.T. Kearney/Foreign Policy Magazine, the U.S. has a

pos: North American monetary union situations between each country. The Eurozone is broadly similar being service-based economies based on high public spending (compared to the United States), high taxes and wealth being created by the sale of goods and services. North America on the other hand has three distinct economies; one based mainly on agriculture, industry and manufacturing with a demand for free trade (Mexico), another based on services such as retail, with higher taxes and low public spending (United States), and a third based on services with higher taxes and higher public spending, with a large sector in primary goods such as oil, mining

pos: Privatization in the United States sector. The decision as to whether to transfer ownership or operations of a public water utility to a private firm is complex. Immediate economic questions such as “Won't privatization increase customers’ monthly water bills?” are accompanied by larger and longer-term questions relating to public health, employment, political control, environmental issues, and relations with other city services. Privatization in the United States State, county, and city economies are constantly challenged in running government operations. A government-run sector may transfer the responsibility for carrying out the service and/or resource management activities and responsibilities to the private sector. Privatization can be a solution

pos: Public–private partnership in transition economies PPP successes in developed countries lay a good foundation for PPPs in developing countries. They claim that giving more space to the competitive private sector produces greater efficiencies and increases innovation and improved quality. Given the right incentives and environment, the private sector can also mobilize the capital necessary for expensive infrastructures and services. According to the United Nations, good governance is open to much interpretation but six core principles are widely accepted: Public–private partnership in transition economies Public-Private Partnerships in transition economies have become increasingly popular since 1990. This built on the success of Public- Private Partnerships (PPPs) in

pos: Economy of the United Kingdom economies of England, Scotland, Wales and Northern Ireland. The service sector dominates the UK economy, contributing around 80% of GDP; the financial services industry is particularly important, and London is the world's largest financial centre. Britain's aerospace industry is the second-largest national aerospace industry. Its pharmaceutical industry, the tenth-largest in the world, plays an important role in the economy. Of the world's 500 largest companies, 26 are headquartered in the UK. The economy is boosted by North Sea oil and gas production; its reserves were estimated at 2.8 billion barrels in 2016, although it has been a net importer of

pos: Female entrepreneurs to introduce new products and services or expand their business in terms of employees or geographic locations. Despite the fact that many female entrepreneurs face growth barriers, they are still able to achieve substantial firm growth. There are examples of these both in a number of developing economies (Ethiopia, Tanzania, and Zambia) surveyed by the ILO, as well as in more developed economies such as the United States. In 1993, "Take Our Daughters To Work Day" was popularized to support career exploration for girls, and later expanded to Take Our Daughters and Sons to Work Day. Hillary Clinton stated that

pos: Globalization and services from a particular source from different locations around the globe to benefit from difference in cost and quality. Likewise, it also comprises globalization of markets; which is defined as the union of different and separate markets into a massive global marketplace. Economic globalization also includes competition, technology, and corporations and industries. Current globalization trends can be largely accounted for by developed economies integrating with less developed economies by means of foreign direct investment, the reduction of trade barriers as well as other economic reforms, and, in many cases, immigration. more apparently, before the phase of Globalization, United States

pos: Nicaraguan Indigenous Organizations farmers living within communities along the Río Coco to strengthen their local economies and to structure community collaboration efforts. ACARIC originally received funding from both Nicaraguan organizations, such as the National Development Institute (INFONAC), and United States organizations, most notably United States Agency for International Development (USAID) and Catholic Relief Services (CRS). While most organizational efforts were directed at collectively setting prices to sell and buy food products from—generally—non-indigenous merchants,liberation theological methodologies were utilized by Gregorio Smutko and other Capuchin missionaries within newly developed educational curricula to develop singularity among the Miskitu. After the decline of the ACARIC, Miskitu Moravian

pos: Tertiary sector of the economy the United Kingdom. The speed at which other economies have made the transition to service-based (or "post-industrial") economies has increased over time. Historically, manufacturing tended to be more open to international trade and competition than services. However, with dramatic cost reduction and speed and reliability improvements in the transportation of people and the communication of information, the service sector now includes some of the most intensive international competition, despite residual protectionism. Service providers face obstacles selling services that goods-sellers rarely face. Services are intangible, making it difficult for potential customers to understand what they will receive and what value it

pos: Free market markets are understood to include entrepreneurs, both individuals and businesses. Typically, a modern free market economy would include other features, such as a stock exchange and a financial services sector, but they do not define it. Friedrich Hayek popularized the view that market economies promote spontaneous order which results in a better "allocation of societal resources than any design could achieve." According to this view, in market economies are characterized by the formation of complex transactional networks which produce and distribute goods and services throughout the economy. These networks are not designed, but nevertheless emerge as a result of decentralized

pos: Economy of Finland Economy of Finland Finland has a highly industrialised, mixed economy with a per capita output similar to that of other western European economies such as France, Germany and United Kingdom but slightly lower than Sweden. The largest sector of the economy is services at 72.7 percent, followed by manufacturing and refining at 31.4 percent. Primary production is 2.9 percent. With respect to foreign trade, the key economic sector is manufacturing. The largest industries are electronics (21.6 percent), machinery, vehicles and other engineered metal products (21.1 percent), forest industry (13.1 percent), and chemicals (10.9 percent). Finland has timber and several mineral

pos: 2015–16 Chinese stock market turbulence the financial crisis of 2007–08. Others such as The Economist questioned its severity. George Osborne, Chancellor of the Exchequer of the United Kingdom, said that the Chinese stock market turbulence will not have a big impact on European economies. The Globe and Mail journalist Nathan Vanderklippe argued that "To understand the devaluation of the yuan and the changes in the Chinese economy today, look to the growth in its services sector rather than heavy industry." Vanderklippe described the new economy as "the investment banks, restaurant chains and airlines that make up the services sector". In 2014 the service industry in

neg: Retailing in India labour work force currently - most of which is unorganised. This about a third of levels in United States and Europe; and about half of levels in other emerging economies. A complete expansion of retail sector to levels and productivity similar to other emerging economies and developed economies such as the United States would create over 50 million jobs in India. Training and development of labour and management for higher retail productivity is expected to be a challenge. In November 2011, the Indian government announced relaxation of some rules and the opening of retail market to competition. Until 2011, Indian

neg: Economy of Taiwan Hsinchu Science Park in 1981. Investments in mainland China spurred cross-strait trade, decreasing Taiwan's dependence on the United States market. From 1981–1995, the economy grew at an annual rate of 7.52%, and the service sector became the largest sector at 51.67%, surpassing the industrial sector and becoming a major source of the economy's growth. The following table shows the main economic indicators in 1980–2017. Inflation below 2 % is in green. Taiwan now faces many of the same economic issues as other developed economies. With the prospect of continued relocation of labor-intensive industries to economies with cheaper work forces, such

neg: Comparison of Canadian and American economies is 5th based on the 1997 estimate. Five main reasons for the productivity gap: the lower capital intensity of economic activity in Canada; an innovation gap in Canada relative to the United States; Canada's relatively underdeveloped high-tech sector; less developed human capital in Canada in terms of proportionately fewer university graduates and scientists and engineers in research and development; and more limited economies of scale and scope in Canada. Comparison of Canadian and American economies The economies of Canada and the United States are similar because they are both developed countries and are each other's largest trading partners. However, key

neg: Developed country provides more wealth than the industrial sector. They are contrasted with developing countries, which are in the process of industrialization or pre-industrial and almost entirely agrarian, some of which might fall into the category of least developed countries. As of 2015, advanced economies comprise 60.8% of global GDP based on nominal values and 42.9% of global GDP based on purchasing-power parity (PPP) according to the International Monetary Fund. In 2017, the ten largest advanced economies by GDP in both nominal and PPP terms were Australia, Canada, France, Germany, Italy, Japan, South Korea, Spain, the United Kingdom, and the United States.

neg: Great Recession Economic Research (the official arbiter of U.S. recessions), the recession in the United States began in December 2007 and ended in June 2009, thus extending over 19 months. The Great Recession resulted in the scarcity of valuable assets in the market economy and the collapse of the financial sector (banks) in the world economy. Some banks were bailed out by the Federal government of the United States. The recession was not felt equally around the world. Whereas most of the world's developed economies, particularly in North America and Europe, fell into a definitive recession, many of the newer developed economies

neg: Oceania smaller nations in the Pacific, although many fishing areas are exploited by other larger countries, namely Japan. Natural Resources, such as lead, zinc, nickel and gold, are mined in Australia and Solomon Islands. Oceania's largest export markets include Japan, China, the United States, India, South Korea and the European Union. Endowed with forest, mineral, and fish resources, Fiji is one of the most developed of the Pacific island economies, though it remains a developing country with a large subsistence agriculture sector. Agriculture accounts for 18% of gross domestic product, although it employed some 70% of the workforce as of 2001.

neg: United States of China with federalists from all parts of the country (New York Times June 27, 1922). The introduction of Special Economic Zones since the 1980s have led to the development of several distinct regional economies within the People's Republic of China, such as the Pearl River Delta, Yangtze River Delta, and the Bohai Circle. Several of these regions have economies the size of small developed nations. Some scholars who use the term United States of China argue that during the process of Chinese economic reform the People's Republic has evolved into a de facto federal state in which these economic regions have

neg: Fault Lines: How Hidden Fractures Still Threaten the World Economy invested in the United States. With limited financial information in the public domain, the financial systems of late-developing economies relied on long-term business relationships. This made them substantially different from financial systems in developed economies, such as the United States and the United Kingdom, where transparency and easy enforceability of contracts have led to the formation of arm's length systems. This incompatibility made it extremely risky for late-developing economies to borrow from abroad to support investment and growth. Following the crises of the 1990s, these countries abandoned investment projects and debt-fuelled expansion. From being net importers, they became net exporters

neg: Orthodox Development belief in the developed Western countries, such as the United States and the United Kingdom, among the managers of the major multilateral institutions, such as the European Union, and throughout the UN system, that 'Third World' states were economically 'backward' and needed to be 'developed'. This process would require intervention in their economies. This attitude is now widely opposed by many African economists, such as James Shikwati, who claims aid (and intervention in African states) does more harm than good.<nowiki> "The underlying assumption was that the Western lifestyle and mode of economic organisation were superior and should be universally aspired

neg: Retail over a fifth of GDP in tourist-oriented island economies, as well as in other major countries such as Brazil, Pakistan, Russia, and Spain. In all four of the latter countries, this fraction is an increase over 1970, but there are other countries where the sector has declined since 1970, sometimes in absolute terms, where other sectors have replaced its role in the economy. In the United States the sector has declined from 19% of GDP to 14%, though it has risen in absolute terms from $4,500 to $7,400 per capita per year. In China the sector has grown from 7.3%

neg: Exploitation of labour the same labour, environmental, health and safety standards as the United States before they are allowed to trade with businesses in the United States (this has been advocated by Howard Dean, for example). They believe that such standards would improve the quality of life in less developed nations. According to others, this would harm the economies of less developed nations by discouraging the United States from investing in them. Milton Friedman was an economist who thought that such a policy would have that effect. According to this argument, the result of ending perceived exploitation would therefore be the corporation pulling

neg: Major Economies Forum on Energy and Climate Change of Technology Action Plans, which now span ten climate-related technologies that together address more than 80% of the energy sector carbon dioxide (CO2) emissions reduction potential identified by the IEA. MEF partners agreed to lead the work to develop the Technology Action Plans. These technologies include: • Advanced Vehicles (Canada) • Bioenergy (Brazil and Italy) • Carbon Capture, Use & Storage (Australia and United Kingdom) • Energy Efficiency – Buildings Sector (United States) • Energy Efficiency – Industrial Sector (United States) • High-Efficiency, Low-Emissions (HELE) Coal (India and Japan) • Marine Energy (France) • Smart Grid (Italy and Korea) •

neg: Science and technology in Brazil R&D comes from private firms (private universities performing only a fraction of it). Between 2010 and 2013, this expenditure declined from 49% to 42% of domestic expenditure on research, according to preliminary government data. This trend is likely to last for some time. The business sector will, thus, have no chance of devoting 0.90% of GDP to R&D by 2014. Brazil's GERD/GDP ratio remains well below that of both advanced economies and such dynamic emerging market economies as China and, especially, the Republic of Korea. At the same time, it is quite comparable to the more stagnant developed economies such

neg: Contemporary history between the 1960s and 1980s, epitomised by the Protests of 1968. Living standards rose sharply across the developed world because of the post-war economic boom, whereby such major economies as Japan and West Germany emerged. The culture of the United States, especially consumerism, spread widely. By the 1960s, many western countries had begun deindustrializing; in their place, globalization led to the emergence of new industrial centres, such as Japan, Taiwan and later China, which exported consumer goods to developed countries. Science began transforming after 1945: spaceflight, nuclear technology, laser and semiconductor technology were developed alongside molecular biology and genetics, particle

neg: Economy of North America Salvador is growing in this sector. And smaller economic powers such as Guatemala, Honduras, Costa Rica, and Panama are also growing slowly in this sector. Tourism is extremely important for the Caribbean economies, as they contain many beaches and have warm climates. Skiing in Canada and the US is also important. Tourism of national parks and natural landmarks, such as Mount Rushmore and the Grand Canyon in the United States, and Niagara Falls and Moraine lake in Canada, contribute to the economy in these regions. Statistics: Economy of North America The economy of North America comprises more than 579 million

neg: Ecological debt European Network for the Recognition of Ecological Debt (ENRED) which is a network of debtors. During the COP in Copenhagen in December 2009, some governments from developing countries or countries most vulnerable to climate change consequences (such as Bolivia, Mauritania, Chad, or island countries as Maldives or Haiti) have argued that the principle of shared responsibility demands that rich nations or developed economies (such as the United States, some European countries, China) go beyond donations or adaptation credits and make reparations that recognize an ecological debt for excessive emissions over several decades. The top United States ambassador, Todd Stern, flatly

neg: Sugary drink tax declining in many developed economies, but growing rapidly in middle income economies such as Vietnam and India. In the United States, the single biggest market for carbonated soft drinks, consumers annual average per capita purchase of soda was 154 liters. Denmark began taxing soft drinks and juices in the 1930s. More recently, Finland reintroduced an earlier soft drink tax in 2011, while Hungary taxes sugary drinks as part of its 2011 public health product tax, which covers all food products with unhealthy levels of sugar. France introduced a targeted sugar tax on soft drinks in 2012. At a national level

neg: Socialist economics welfare state) and Norway (state social democratic mixed economy) to the present. They can be regarded as social democratic experiments, because they universally retained a wage-based economy and private ownership and control of the decisive means of production. Nevertheless, these western European countries tried to restructure their economies away from a purely private capitalist model. Variations range from social democratic welfare states, such as in Sweden, to mixed economies where a major percentage of GDP comes from the state sector, such as in Norway, which ranks among the highest countries in quality of life and equality of opportunity for its

neg: Economic history of New Zealand Economic history of New Zealand The economic history of New Zealand dates to before European colonisation of the country. By the 20th century, it had become one of the most globalized economies in the world, relying heavily on international trade with developed countries including Australia, Canada, China, European Union, the United States, Japan, and South Korea. It is a mixed economy that functions on free-market principles and has a sizable manufacturing and service sector and an efficient agricultural sector. New Zealand has the 54th largest export economy in the world measured by nominal gross domestic product. In 2016, New Zealand

neg: Dubai Islamic Economy Development Centre Islamic Economy’ strategy will further streamline Dubai’s tourism sector, in conjunction with stakeholders in the field, and make it the preferred destination globally for family tourism. Innovative technologies have always played a key role in shaping developed economies. In the last three decades, several leading institutions have ensured that sufficient funding is allocated to the development of innovative technologies, which in turn contribute to the growth of their respective economies. Dubai is an established pioneer in this field and has launched iconic projects such as the Dubai Internet City and Dubai Silicon Oasis that attract leaders in the digital economy

neg: Mexican ceramics ware, which cannot be exported. While lead free and low lead glazes have been developed for use with low temperature firing, the most traditional, only about half of artisans use it. However, the fastest growing ceramics industry sector is composed of small companies that manufacture mostly handmade tableware and decorative articles. This industry sector is rapidly finding export markets in the United States, the Far East, and in some parts of Europe. It is labor-intensive, but does require the importation of certain equipment such as kilns. Most of goods produced by this sector is exported to the United States. As

neg: World Bank high-income economy countries as "developed" or "advanced economies". According to the United Nations, for example, some high-income countries may also be developing countries. The GCC countries, for example, are classified as developing high-income countries. Thus, a high-income country may be classified as either developed or developing. Although the Holy See is a sovereign state, it is not classified by the World Bank under this definition. According to the World Bank the following 81 countries (including territories) are classified as "high-income economies". In brackets the year(s) during which they held such classification. As of the 2019 fiscal year, high-income economies are those that

neg: Input–output model to perform environmentally extended input-output analysis (EEIOA). For example, information on fossil fuel inputs to each sector can be used to investigate flows of embodied carbon within and between different economies. The structure of the input–output model has been incorporated into national accounting in many developed countries, and as such can be used to calculate important measures such as national GDP. Input–output economics has been used to study regional economies within a nation, and as a tool for national and regional economic planning. A main use of input–output analysis is to measure the economic impacts of events as well as

neg: Primary sector of the economy extremely competitive against those of poor or underdeveloped countries that maintain free market policies and low or non-existent tariffs to counter them. Such differences also come about due to more efficient production in developed economies, given farm machinery, better information available to farmers, and often larger scale. Primary sector of the economy An industry involved in the extraction and collection of natural resources, such as copper and timber, as well as by activities such as farming and fishing. A company in a primary industry can also be involved in turning natural resources into products. Primary industry tends to make up

neg: Smokeasy attempts to regulate habits of consumption, like the prohibition of alcohol and drug prohibition. Such prohibitions tend to trigger underground economies. For, when a sector of the population is prohibited by law from consuming a certain good, or consuming a certain good in a certain way, inevitably, some will flout that prohibition and provide the good or the means of consuming the good in a black-market fashion. Thus, just as prohibition in the United States led to the speakeasy (an establishment in which alcohol was sold in contravention of the law), so too have smoking bans led to the smokeasy.

neg: Hunger in the United States in 2014. The report stated the fall was not statistically significant. The percentage of households experiencing very low food security remained at 5.6% for both 2013 and 2014. In a July 2016 discussion on the importance of private sector engagement with the Sustainable Development Goals, Malcolm Preston the global sustainability leader at PricewaterhouseCoopers, suggested that unlike the older Millennial development goals, the SDGs are applicable to the advanced economies due to issues such as hunger in the United States. Preston stated that one in seven Americans struggle with hunger, with food banks in the US now more active than ever.

neg: Andalusia has come to constitute the majority of the regional economy, as is typical of contemporary economies in developed nations. In 1975 the service sector produced 51.1 percent of local GDP and employed 40.8 percent of the work force. In 2007, this had risen to 67.9 percent of GDP and 66.42 percent of jobs. This process of "tertiarization" of the economy has followed a somewhat unusual course in Andalusia. This growth occurred somewhat earlier than in most developed economies and occurred independently of the local industrial sector. There were two principal reasons that "tertiarization" followed a different course in Andalusia than

neg: Federalism in China Republic of China, such as the Pearl River Delta, Yangtze River Delta, and the Bohai Rim. Several of these regions have economies the size of small developed nations. Some scholars who use the term United States of China argue that during the process of Chinese economic reform the People's Republic has evolved into a de facto federal state in which these economic regions have wide discretion to implement policy goals which are set by the PRC central government and in which provinces and localities actively compete with each other in order to advance economically. The concept of a United Republics

neg: Comparison of Canadian and American economies Comparison of Canadian and American economies The economies of Canada and the United States are similar because they are both developed countries and are each other's largest trading partners. However, key differences in population makeup, geography, government policies and productivity all result in different economies. While both countries are in the list of top ten economies in the world in 2018, the US is the largest economy in the world, with US$20.4 trillion, with Canada ranking tenth at US$1.8 trillion. The population of Canada in July 2018 was 37,058,856 while the population of the United States was 328,928,146 in November

neg: Three-sector model of unemployment. Countries with a low per capita income are in an early state of development; the main part of their national income is achieved through production in the primary sector. Countries in a more advanced state of development, with a medium national income, generate their income mostly in the secondary sector. In highly developed countries with a high income, the tertiary sector dominates the total output of the economy. The distribution of the workforce among the three sectors progresses through different stages as follows, according to Fourastié: Workforce quotas: This phase represents a society which is scientifically not yet

neg: Economy for a global information society as understanding of a new type of "all-connected" society is created. In the late 2000s, the new type of economies and economic expansions of countries like China, Brazil, and India bring attention and interest to different from the usually dominating Western type economies and economic models. The economy may be considered as having developed through the following Phases or Degrees of Precedence. In modern economies, these phase precedences are somewhat differently expressed by the three-sector theory. Other sectors of the developed community include : There are a number of ways to measure economic activity of

neg: Economy of the United States an industry, originated in the United States, which it still dominates. According to the National Venture Capital Association 11% of private sector jobs come from venture capital backed companies and venture capital backed revenue accounts for 21% of U.S. GDP. Total U.S. investment in venture capital amounted to US$48.3 billion in 2014, for 4 356 deals. This represented 'an increase of 61% in dollars and a 4% increase in deals over the prior year,' reported the National Venture Capital Association. The Organisation for Economic Cooperation and Development estimates that venture capital investment in the United States had fully recovered by

neg: Uneven and combined development regeneration. Harvey states that accumulation "is the engine which powers growth under the capitalist mode of production. The capitalist system is therefore highly dynamic and inevitably expansionary". The dynamism of capitalism is due to its persistent search for competitive advantage and consequently, its movement away from oversaturated economies towards new spaces from which it can extract greater profit. For instance, developed economies are characterized by high land rents and wages, and unionized labour, translating into high costs of production and lower gains. By contrast, developing economies have abundant pliable labour, and low rents and wages. As such, it is favourable

neg: Contract farming to economies of scale, which, as Collier and Dercon argue, are "bound to provide for a more dynamic agricultural sector. Although contract farming must first and foremost be considered as a commercial proposition, it has also come to be viewed as an effective approach to help solve many of the market access and input supply problems faced by small farmers. A guide published by GIZ in 2013 seeks to advise on ways in which contract farming can be developed to maximise such benefits for smallholders in developing countries. Effective linkages between companies and thousands of farmers often require the involvement

neg: Great Recession 1.5 million. The financial phase of the crisis led to emergency interventions in many national financial systems. As the crisis developed into genuine recession in many major economies, economic stimulus meant to revive economic growth became the most common policy tool. After having implemented rescue plans for the banking system, major developed and emerging countries announced plans to relieve their economies. In particular, economic stimulus plans were announced in China, the United States, and the European Union. In the final quarter of 2008, the financial crisis saw the G-20 group of major economies assume a new significance as a focus

neg: Developed country Developed country A developed country, industrialized country, more developed country, or more economically developed country (MEDC), is a sovereign state that has a developed economy and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the degree of economic development are gross domestic product (GDP), gross national product (GNP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. Which criteria are to be used and which countries can be classified as being developed are subjects of debate. Developed countries have generally post-industrial economies, meaning the service sector

neg: Privatization in the United States Privatization in the United States State, county, and city economies are constantly challenged in running government operations. A government-run sector may transfer the responsibility for carrying out the service and/or resource management activities and responsibilities to the private sector. Privatization can be a solution for dealing with particularly problematic aspects within a government's administration. Often municipalities will turn to privatization to solve an issue. A city or county may, for example, have vehicle maintenance cost increases that exceed revenues consistently and look to privatization as a means of controlling increasing costs. It may not, however, address other factors that are

neg: Ian Bremmer become more stable than authoritarian regimes. Ian Bremmer describes state capitalism as a system in which the state dominates markets primarily for political gain. In his book, "" (New York: Portfolio, 2010), Bremmer describes China as the primary driver for the rise of state capitalism as a challenge to the free market economies of the developed world, particularly in the aftermath of the financial crisis. The term G-Zero world refers to a breakdown in global leadership brought about by a decline of Western influence and the inability of other nations to fill the void. It is a reference to a

neg: Decoupling and re-coupling were greater outside the United States, with the worst experienced in emerging markets and developed economies like Germany and Japan. Exports make up especially large portions of economic activity in those places, but that fact was not supposed to matter anymore in a decoupled world because domestic activity was thought to be so robust. On the other hand, after the slump the emerging countries experienced a strong recovery, much stronger than that in advanced economies. The phenomenon of decoupling and re-coupling has been explained by observing that global demand for factors such as capital and raw material declines when one

neg: Social inequality which low access to fresh, healthy food in a neighborhood leads to poor consumer choices and options regarding diet. It is widely thought that food deserts are significant contributors to the childhood obesity epidemic in the United States and many other countries. The economies of the world have developed unevenly, historically, such that entire geographical regions were left mired in poverty and disease while others began to reduce poverty and disease on a wholesale basis. This was represented by a type of North–South divide that existed after World War II between First world, more developed, industrialized, wealthy countries and Third

neg: Water in Africa sectors. Climate change, water scarcity and variability have direct impact on the major sector outputs and thus ultimately on the overall economy of most African countries. Currently, the most important water-dependent sector in Africa is agriculture, which forms the bedrock of most economies of African states. Both rain-fed and irrigated agriculture are important job-providing sectors in all African countries. The role of agriculture as the main source of employment is decreasing in many African countries as a sustained growth in many economies is leading to increasing standards of living, improved education and the occurrence of rapid rural-urban migration of educated

neg: History of capitalism regulate the capitalistic system throughout much of the world. Keynesian economics became a widely accepted method of government regulation and countries such as the United Kingdom experimented with mixed economies in which the state owned and operated certain major industries. The state also expanded in the US; in 1929, total government expenditures amounted to less than one-tenth of GNP; from the 1970s they amounted to around one-third. Similar increases were seen in all industrialized capitalist economies, some of which, such as France, have reached even higher ratios of government expenditures to GNP than the United States. A broad array of

neg: Emerging market record new level in the first quarter of 2011 of $121 billion. The four largest emerging and developing economies by either nominal or PPP-adjusted GDP are the BRIC countries (Brazil, Russia, India and China). In the 1970s, "less developed countries" (LDCs) was the common term for markets that were less "developed" (by objective or subjective measures) than the developed countries such as the United States, Japan, and those in Western Europe. These markets were supposed to provide greater potential for profit but also more risk from various factors like patent infringement. This term was replaced by "emerging market". The term

neg: Great Depression in the United States high as 33%. Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by approximately 60%. Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as grain farming, mining and logging, as well as construction, suffered the most. Most economies started to recover by 1933–34. However, in the U.S. and some others the negative economic impact often lasted until the beginning of World War II, when war industries stimulated recovery. There is little

neg: Oceania Campbell Islands, belonging to New Zealand. Oceania has a diverse mix of economies from the highly developed and globally competitive financial markets of Australia and New Zealand, which rank high in quality of life and human development index, to the much less developed economies that belong to countries such as of Kiribati and Tuvalu, while also including medium-sized economies of Pacific islands such as Palau, Fiji and Tonga. The largest and most populous country in Oceania is Australia, with Sydney being the largest city of both Oceania and Australia. The first settlers of Australia, New Guinea, and the large islands

neg: Technological unemployment have advised that public works and guaranteed jobs in the public sector may be the ideal solution to technological unemployment, as unlike welfare or guaranteed income schemes they provide people with the social recognition and meaningful engagement that comes with work. For less developed economies, public works may be an easier to administrate solution compared to universal welfare programmes. As of 2015, calls for public works in the advanced economies have been less frequent even from progressives, due to concerns about sovereign debt. A partial exception is for spending on infrastructure, which has been recommended as a solution to technological

neg: United States Balance of trade long run, nations with trade surpluses tend also to have a savings surplus. The U.S. generally has developed lower savings rates than its trading partners, which have tended to have trade surpluses. Germany, France, Japan, and Canada have maintained higher savings rates than the U.S. over the long run. The notion that bilateral trade deficits are bad in and of themselves is overwhelmingly rejected by trade experts and economists. Wealth-producing sector jobs in the U.S. such as those in manufacturing and computer software have often been replaced by lower-paying wealth-consuming service sector jobs such as those in retail and government

neg: BRIC well as in academia. Its usage has grown specially in the investment sector, where it is used to refer to the bonds emitted by these emerging markets governments. Primarily, along with the BRICs, Goldman Sachs argues that the economic potential of Brazil, Russia, India, Mexico and China is such that they may become (with the United States) the six most dominant economies by the year 2050. Due to Mexico's rapidly advancing infrastructure, increasing middle class and rapidly declining poverty rates it is expected to have a higher GDP per capita than all but three European countries by 2050, this new

neg: United Kingdom media include ITV plc, which operates 11 of the 15 regional television broadcasters that make up the ITV Network, and News Corporation, which owns a number of national newspapers through News International such as the most popular tabloid "The Sun" and the longest-established daily "broadsheet" "The Times", as well as holding a large stake in satellite broadcaster British Sky Broadcasting. London dominates the media sector in the UK: national newspapers and television and radio are largely based there, although Manchester is also a significant national media centre. Edinburgh and Glasgow, and Cardiff, are important centres of newspaper and broadcasting production

neg: Twin crises at least reduce its severity if such a crisis actually happens. That is, measures that reduce the exposure and enhance the confidence in the banking sector may reduce the incentives for Capital flight (and consequent currency devaluations), while credible policies designed to promote exchange rate stability may enhance the stability in domestic banking institutions, which lowers the probability of a banking crisis. Thus, since the emerging market economies suffered from severe crises during the 1980s and 1990s, they developed (in general) more regulated banking systems in the 2000s as a precautionary measure, becoming then less susceptible to banking (and consequently

neg: Risk management in Indian banks the bank. Thus the need for an efficient risk management framework is paramount in order to factor in internal and external risks. The financial sector in various economies like that of India are undergoing a monumental change factoring into account world events such as the ongoing Banking Crisis across the globe. The 2007–present recession in the United States has highlighted the need for banks to incorporate the concept of Risk Management into their regular procedures. The various aspects of increasing global competition to Indian Banks by Foreign banks, increasing Deregulation, introduction of innovative products, and financial instruments as well as

neg: Foreign policy of Japan importance of economic competition, rather than military power, to Japan. These formerly communist countries were anxiously seeking aid, trade, and technical benefits from the developed countries, such as Japan. The power of Japan's ally, the United States, was also seen by many as waning. The United States was forced to look increasingly to Japan and others to shoulder the financial burdens entailed in the transformation of former communist economies in Eastern Europe and other urgent international requirements that fall upon the shoulders of world leaders. Japanese industries and enterprises were among the most capable in the world. High savings and

neg: Water privatization in the United States systems, conduct research, and develop new technologies. A water system run by the private sector can be more efficient and cost effective. Libertarian organizations such as the Reason Foundation have argued that privatizing water systems increases environmental compliance and reduces bureaucratic inefficiency, citing how studies have shown privatizing utility ownership or management reduces costs. In addition, private utilities contribute via taxes to the economies of municipalities they serve. The largest private water utilities have fewer EPA violations, fines, or work orders when it comes to compliance with the Safe Drinking Water Act. An American Water Intelligence analysis of EPA data

neg: Development finance institution in providing credit in the form of higher risk loans, equity positions and risk guarantee instruments to private sector investments in developing countries. DFIs are typically backed by countries with developed economies. , total commitments (as loans, equity, guarantees and debt securities) of the major regional, multilateral and bilateral DFIs totalled US$45 billion (US$21.3 billion of which went to support the private sector). DFIs often provide finance to the private sector for investments that promote development and to help companies to invest, especially in countries with various restrictions on the market. Development banks include: Development finance institution A development finance

neg: Fortune Global 500 above, 425 (85.0%) of the Global 500 are represented by only 10 countries: two in North America (Canada and United States), five in Western Europe (France, Germany, Netherlands, Switzerland and United Kingdom) and three in East Asia (China, Japan and South Korea). Moreover, the top six (United States, China, Japan, France, Germany and United Kingdom) are some of the world's largest economies as estimated by the IMF (List of countries by GDP (nominal)). Among the Fortune Global 500, 371 companies (74.2%) are from these six countries. The top-ranked companies in each industry sector are as follows. Fortune Global 500 The

neg: Common Agricultural Policy other parts of the EU policy framework, such as consumer advocate working groups and the environmental departments of the Union. In addition, Euroscepticism in states such as the UK and Denmark is fed in part by the CAP, which Eurosceptics consider detrimental to their economies. Proponents claim that the CAP is an exceptional economic sector as it protects the "rural way of life" although it is recognised that it affects world poverty. On 21 December 1962, Sicco Mansholt, the European Commissioner for Agriculture, sent a memorandum to the Council of Ministers concerning agricultural reform in the European Community. This long-term

neg: Virtual tuning comprehensive makeovers of ordinary cars. Artists who undertake virtual tuning, usually refer to themselves as 'choppers' though this term is fast disappearing as many try to improve their professional appearance. For the most part, they do it for their own pleasure – as a hobby – however, there is a small percentage of artists who earn an income from their talent. A large number of choppers come from highly developed economies such as the United States of America, the UK and Australia. However, a majority of choppers stem from European nations such as the Lithuania, Czech Republic, Germany, Poland, Slovakia,

neg: Water supply network higher price on water, which imposes a barrier for lower-income people. The Millennium Development Goals propose the changes required. In advanced economies, the problems are about optimising existing supply networks. These economies have usually had continuing evolution, which allowed them to construct infrastructure to supply water to people. The European Union has developed a set of rules and policies to overcome expected future problems. There are many international documents with interesting, but not very specific, ideas and therefore they are not put into practice. Recommendations have been made by the United Nations, such as the Dublin Statement on Water and

neg: United Nations Industrial Development Organization some Member States felt that industrial development could be supported more effectively and efficiently by the private sector. As a result, Canada, the United States (UNIDO's then largest donor), and Australia subsequently withdrew from the Organization between 1993 and 1997. Simultaneously, the continued slowdown in the economies of some major industrialized countries as well as the financial turmoil of the 1997 Asian financial crisis caused multilateral development assistance to decline. In addition, a weak management structure and lack of focus and integration of UNIDO's activities contributed to aggravate the crisis. UNIDO's Member States responded by adopting a stringent Business Plan

neg: Bank for International Settlements Ten (G10), including the main European economies, Canada, Japan, and the United States, became the most prominent grouping. With the end of the Bretton Woods system (1971–73) and the transition to floating exchange rates, financial stability issues came to the fore. The collapse of some internationally active banks, such as Herstatt Bank (1974), highlighted the need for improved banking supervision at an international level. The G10 Governors created the Basel Committee on Banking Supervision (BCBS), which remains active to this day. The BIS developed into a global meeting place for regulators and for developing international standards (Basel Concordat, Basel Capital

neg: Capitalism authoritarian government. Augusto Pinochet's rule in Chile led to economic growth and high levels of inequality by using authoritarian means to create a safe environment for investment and capitalism. Similarly, Suharto's authoritarian reign and extirpation of the Communist Party of Indonesia allowed for the expansion of capitalism in Indonesia. Peter A. Hall and David Soskice argued that modern economies have developed two different forms of capitalism: liberal market economies (or LME) (e.g. the United States, the United Kingdom, Canada, New Zealand and Ireland) and coordinated market economies (CME) (e.g. Germany, Japan, Sweden and Austria). Those two types can be distinguished

neg: Dual economy Dual economy A dual economy is the existence of two separate economic sectors within one country, divided by different levels of development, technology, and different patterns of demand. The concept was originally created by Julius Herman Boeke to describe the coexistence of modern and traditional economic sectors in a colonial economy. Dual economies are common in less developed countries, where one sector is geared to local needs and another to the global export market. Dual economies may exist within the same sector, for example a modern plantation or other commercial agricultural entity operating in the midst of traditional cropping systems.

neg: Global imbalances period to the next. For this reason, many countries have decided to invest those assets abroad, in the more financially developed countries, such as the United States and the United Kingdom, in the form of Sovereign Wealth Funds, portfolio investments and foreign reserves, indicating the existence of shortages in safe assets as well. Another explanation is that ageing population do not find profitable investment vehicles to invest at home, and end up investing them abroad. Also, some coincidental factors amplified the extent of the imbalances. The decreasing output volatility in advanced economies (i.e. Great Moderation), led to less savings and

neg: G90 the group of Least Developed Countries (LDC). The driving force for the formation of the G90 was the lack of economic power faced by poor and small nations to enact resolutions in trade disputes, as envisioned by the WTO. G90 nations, unable to enforce or afford countervailing measures, or compete with the subsidized economies of wealthier nations, formed the trade block in order to ensure a collective voice on issues of importance to landlocked and island economies, less developed countries, and commodity-dependent nations. Primarily, they want preferential domestic subsidies by the European Union and the United States to be removed

neg: Financial contagion when it defaults on interbank liabilities and sells assets in a fire sale, thereby undermining confidence in similar banks. An example of this phenomenon is the subsequent turmoil in the United States financial markets. International financial contagion, which happens in both advanced economies and developing economies, is the transmission of financial crisis across financial markets for direct or indirect economies. However, under today's financial system, with the large volume of cash flow, such as hedge fund and cross-regional operation of large banks, financial contagion usually happens simultaneously both among domestic institutions and across countries. The cause of financial contagion usually

neg: Social economy similar, they are not identical. This "fourth sector" differs from the third sector by its location (in the United States) and its emphasis on business (as opposed to government) leadership in the voluntary sector. Outside the United States governments establish national plans for the third sector, which formalizes the role of governments. In the U.S. such governmental planning is discouraged; market-based mechanisms are emphasised, such as social entrepreneurship. A discussion of sectors and social economy is in "Business with a Difference: Balancing the Social and the Economic" by Mook, Quarter and Ryan, produced with the support of the Social Sciences

neg: Impact of farmers' markets on economies within the United States resource needs were key factors in projecting market failure. Impact of farmers' markets on economies within the United States Farmers' markets are markets in which producers sell directly to consumers. While farmers' markets do not have a measurable impact on the United States economy as a whole, many studies have found that farmers' markets impact state and municipal economies as well as vendors, local businesses, and consumers. These impacts are measured using the IMPLAN Input-Output Model and the Sticky Economic Evaluation Device (SEED), in addition to other methods. The economic impacts that are most frequently measured include effects on the

neg: Impact of farmers' markets on economies within the United States Impact of farmers' markets on economies within the United States Farmers' markets are markets in which producers sell directly to consumers. While farmers' markets do not have a measurable impact on the United States economy as a whole, many studies have found that farmers' markets impact state and municipal economies as well as vendors, local businesses, and consumers. These impacts are measured using the IMPLAN Input-Output Model and the Sticky Economic Evaluation Device (SEED), in addition to other methods. The economic impacts that are most frequently measured include effects on the revenue and income of local growers and local businesses,

neg: Independent power producers in British Columbia anyone in the private or public sector. Since the implementation of the 2002 Energy Plan, however, BC Hydro will no longer be authorized to develop its own public IPPs, leaving future projects to be developed by the private sector. The province of British Columbia currently buys from several sources such as Rio Tinto Alcan, Teck Cominco, pulp mills, Columbia Power Corporation, Alberta, and the United States. As of April 2017 BC Hydro was purchasing electricity under contract with private companies which deliver 20,788 gigawatts of power annually. The 2002 policy allows for new projects to be produced at lower costs

neg: Informal sector Tax Evasion and Information Distortion" Edgar L. Feige examined the economic implications of a shift of economic activity from the observed to the non-observed sector of the economy. Such a shift not only reduces the government's ability to collect revenues, it can also bias the nation's information systems and therefore lead to misguided policy decisions. The book examines alternative means of estimating the size of various unobserved economies and examines their consequences in both socialist and market oriented economies. Feige goes on to develop a taxonomic framework that clarifies the distinctions between informal, illegal, unreported and unrecorded economies, and identifies

neg: Convergence (economics) colonies in the New World but grew faster than other countries as a result of their soil qualities. They argued that the United States and Canada had land suitable for growing wheat which meant that they had small scale farming, since wheat does not benefit from economies of scale, and this led to a relatively equal distribution of wealth and political power enabling the population to vote for broad public education. This differentiated them from countries such as Cuba that had land suitable for growing sugar and coffee. Such countries did benefit from economies of scale and so had large

neg: Slavery in the colonial United States December 1865. Slavery in the colonial United States Slavery in the colonial area which later became the United States (1600–1776) developed from complex factors, and researchers have proposed several theories to explain the development of the institution of slavery and of the slave trade. Slavery strongly correlated with Europe's American colonies' need for labor, especially for the labor-intensive plantation economies of the sugar colonies in the Caribbean, operated by Great Britain, France, Spain, and the Dutch Republic. Most slaves who were brought or kidnapped to the Thirteen British colonies - the Eastern seaboard of what later became the United States

neg: Slavery in the colonial United States Slavery in the colonial United States Slavery in the colonial area which later became the United States (1600–1776) developed from complex factors, and researchers have proposed several theories to explain the development of the institution of slavery and of the slave trade. Slavery strongly correlated with Europe's American colonies' need for labor, especially for the labor-intensive plantation economies of the sugar colonies in the Caribbean, operated by Great Britain, France, Spain, and the Dutch Republic. Most slaves who were brought or kidnapped to the Thirteen British colonies - the Eastern seaboard of what later became the United States - were

neg: Ukraine politics of Ukraine. Freedom of the press in Ukraine is considered to be among the freest of the post-Soviet states other than the Baltic states. Freedom House classifies the Internet in Ukraine as "free" and the press as "partly free". Press freedom has significantly improved since the Orange Revolution of 2004. However, in 2010 Freedom House perceived "negative trends in Ukraine". Kiev dominates the media sector in Ukraine: the "Kyiv Post" is Ukraine's leading English-language newspaper. National newspapers "Den", "Mirror Weekly", tabloids, such as "The Ukrainian Week" or "Focus" (Russian), and television and radio are largely based there, although Lviv

neg: Informal sector the Single Market. Since then the German informal sector stabilized on the achieved 350 bn € level which signifies an extremely high tax evasion for a country with 90% salary-employment. According to the Swedish International Development Cooperation Agency (SIDA), the key drivers for the growth of the informal economy in the twenty-first century include: Historically, development theories have asserted that as economies mature and develop, economic activity will shift from the informal to the formal sphere. In fact, much of the economic development discourse is centered around the notion that formalization indicates how developed a country's economy is; for more

neg: Andalusia the 2009 recession, was also important to the region's economy. The industrial sector is less developed than most other regions in Spain. Between 2000–2006 economic growth per annum was 3.72%, one of the highest in the country. Still, according to the Spanish Instituto Nacional de Estadística (INE), the GDP per capita of Andalusia (€17,401; 2006) remains the second lowest in Spain, with only Extremadura lagging behind. The primary sector, despite adding the least of the three sectors to the regional GDP remains important, especially when compared to typical developed economies. The primary sector produces 8.26 percent of regional GDP and

neg: Sectoral balances Sectoral balances The sectoral balances (also called sectoral financial balances) are a sectoral analysis framework for macroeconomic analysis of national economies developed by British economist Wynne Godley. The balances represent an accounting identity resulting from rearranging the components of aggregate demand, showing how the flow of funds affects the financial balances of the private sector, government sector and foreign sector. This corresponds approximately to Balances Mechanics developed by Wolfgang Stützel in the 1950s. The approach is used by scholars at the Levy Economics Institute to support macroeconomic modelling and by Modern Monetary Theorists to illustrate the relationship between government budget

neg: Chris Mensalvas he belonged to a group of educated Filipinos whose ownership of small plots of land became increasingly threatened by wealthy landlords The Philippines had just become a colonial territory of the United States as a result of the Spanish–American War at this time. Because trade relations between the Philippines and the United States protected both from tariffs, the Philippines experienced rapid urbanization that put pressure on the agricultural sector to be more efficient through economies of scale. His primary schooling at Lingayen, the only school in Pangasinan, and the increasing economic pressure on his family pushed him to migrate in

neg: Public–private partnership in transition economies the Government of India (GOI) developed enabling tools and activities to spur private sector investments using PPPs. Another successful project is the India Partnership Forum. In Vietnam, trial regulations for PPP infrastructure development took effect on January 15, 2011. The State’s capital portion must not be higher than 30 percent, with the remainder coming from the private sector and other sources. Challenges for PPP’s in developing countries include: Based on a study by Sader (2000) and the Camdessus Report, which focused on the experience with partnerships in the water sector, the main obstacles within developing countries include: Advocates contend that

neg: Economy of Estonia Economy of Estonia Estonian economy is an advanced economy and a member of the European Union and of the eurozone. The Estonian economy is heavily influenced by developments in the Finnish and Swedish economies. Before the Second World War, Estonia's economy was based on agriculture, but there was a significant knowledge sector, with the university city of Tartu known for scientific contributions, and a growing industrial sector, similar to that of neighbouring Finland. Products such as butter, milk and cheese were widely known on the western European markets. The main markets were Germany and the United Kingdom, and only 3%

neg: Place management technological and industrial change not only creates jobs but can also cause mass unemployment, damaging local economies and leaving pockets of deprivation across regions. Another important factor in the development of the field of place management is the impact of the retail sector. As a non-judicial parliamentary review of the UK retail sector states, retailing is a necessity for local populations, supplying food and goods in the absence of self agricultural practices. However, shifts in the sector influenced by national and multi-national companies have led to the globalisation of the sector, which raises concerns about the sustainability of the supply

neg: Economy studies, and has been mostly replaced in more recent studies which use the newer term. The informal sector makes up a significant portion of the economies in developing countries but it is often stigmatized as troublesome and unmanageable. However the informal sector provides critical economic opportunities for the poor and has been expanding rapidly since the 1960s. As such, integrating the informal economy into the formal sector is an important policy challenge. Economic research is conducted in fields as different as Economics, Economic sociology, Economic anthropology, or Economic history. Economy An economy (from Greek οίκος – "household" and νέμoμαι –

neg: U.S. Council on Competitiveness recovery, and the High Performance Computing Initiative, which is intended to propel productivity, innovation and competitiveness through expanding the use of high performance computing throughout the private sector. The Council also prepares and publishes the Competitiveness Index, which tracks performance and competitiveness indicators for the United States and global economies. The Council’s membership is an exclusive, invitation only assembly of CEOs of major corporations, university presidents and the heads of national labor organizations. In addition, chief executives of the country’s most prominent nonprofit research organizations, professional societies and trade associations contribute their expertise as national affiliates of the Council. The

neg: T.R. Reid End of American Supremacy". In his book, which was written before the Greek government-debt crisis, Great Britain's exit from the EU, the rejection of the European Constitution by France and Holland, and the re-introduction of border controls by some EU member states, Reid postulated that the European Community was emerging as a united superpower rivaling the political and economic power of the United States. His 2008 documentary for the U.S. television series "Frontline", "Sick Around the World", looked at the comprehensive health care systems of five developed economies from around the world. The first two countries visited were the United

neg: Comparison of Canadian and American economies a much slower pace than in the 1960s. From 1961 to 1973 labour productivity rose annually by 3.3 percent in Canada and 1.7 percent in the United States. According to a 1997 IMF report, from 1973 to 1995 productivity growth was 1.1% in Canada and 0.8% in the United States. The productivity gap began to widen again in the 1990s, particularly in the manufacturing sector. According to a 2005 article, by 2000, this was called Canada's "Excellence Gap" by the Chief Economist of Canadian Manufacturers & Exporters. The United States has the second-highest productivity of the G8 countries, while Canada's

neg: Economy of Scotland the United States made up 15% of visits to Scotland, with the United States being the largest source of overseas visitors, and Germany (13%), France (7%), Australia (6%) and Canada (5%) following behind. Excluding intra UK trade, the European Union and the United States constitute the largest markets for Scotland's exports. As part of the United Kingdom and the European Union, Scotland fully participates in the single market and free trade area which exists across all EU member states and regions. In the 21st century, with the high rates of growth in many emerging economies of southeast Asia such as

neg: Cross-border insolvency wider than a regional basis: the UNCITRAL Model Law on Cross-Border Insolvency, and the EC Regulation on Insolvency Proceedings 2000. Both regimes locate the "centre of main interest" (or "COMI") of the debtor. The United Nations Commission on International Trade Law adopted a model law relating to cross-border insolvency on 30 June 1997. At present 46 jurisdictions have substantially implemented the Model Law into their domestic legislation, including a number of states with both significant economies and large volumes of cross border trade—such as the United States, Japan, the United Kingdom, Australia and Canada, as well as leading emerging economies

neg: Economy of Palau Palau in 1996, (which is 1,000 dollars per person) accounting for roughly half of GDP. Arrivals from Asian countries dropped in 1998 and 1999 due to the regional economic downturn and the depreciation of many Asian currencies against the dollar, which made Palau's dollar-denominated prices more expensive. The service sector dominates the Palauan economy, contributing more than 80% of GDP and employing three-quarters of the work force. The government alone employs nearly 30% of workers. One of the government's main responsibilities is administering external assistance. Under the terms of the Compact of Free Association with the United States, Palau will

neg: Kenya by more than 7% in 2007, and its foreign debt was greatly reduced. But this changed immediately after the disputed presidential election of December 2007, following the chaos which engulfed the country. Telecommunication and financial activity over the last decade now comprises 62% of GDP. 22% of GDP still comes from the unreliable agricultural sector which employs 75% of the labour force (a consistent characteristic of under-developed economies that have not attained food security—an important catalyst of economic growth) A small portion of the population relies on food aid. Industry and manufacturing is the smallest sector, accounting for 16% of