International Economies - Comparative and Absolute Advantage
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Develop an analysis of the international economy - approximately 300 - 400 words - answer the following two questions:
1) Discuss reasons why the economic growth of the four countries varies so markedly. How does trade influence the strength of the economy worldwide?
USA
China
Saudi Arabia
Democratic Republic of Congo
2) Determine the stage in the lifecycle for each country's economy.
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Solution Summary
The answer to this problem explains international economies. The references related to the answer are also included.
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1 There are several reasons the economic growth of the four countries varies so markedly.
The United States has a GDP growth rate of 2.4%. Currently, the United States is recovering from the economic recession in the previous decade. Its growth has commenced. China is an emerging economy and has a growth rate of 6.9%. Its growth rate is influenced by trade. China depends on global market for the products it manufacturers. It keeps the value of its currency low so that its exports are attractive in global markets and imports are costly back home. Over the past 30 years China has emerged as the world's fastest growing economy with average growth rates of 10%. Saudi Arabia's GDP growth rate has declined to 3.5% according to 2014 ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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