1.
Southern African Development Community
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The Southern African Development Community is an inter-governmental organization headquartered in Gaborone, Botswana. Its goal is to further cooperation and integration as well as political. It complements the role of the African Union, the immediate forerunner of the political and security cooperation leg of todays SADC was the informal Frontline States grouping. The Southern African Development Coordination Conference was the forerunner of the socio-economic cooperation leg of todays SADC, the adoption by nine majority-ruled southern African countries of the Lusaka declaration on 1 April 1980 paved the way for the formal establishment of SADCC in April 1980. Membership of the FLS and SADCC sometimes differed, SADCC was transformed into SADC on 17 August 1992, with the adoption by the founding members of SADCC and newly independent Namibia of the Windhoek declaration and treaty establishing SADC. The 1992 SADC provided for both socio-economic cooperation and political and security cooperation, in reality, the FLS was dissolved only in 1994, after South Africas first democratic elections. Subsequent efforts to place political and security cooperation on an institutional footing under SADCs umbrella failed. On 14 August 2001, the 1992 SADC treaty was amended, the amendment heralded the overhaul of the structures, policies and procedures of SADC, a process which is ongoing. One of the changes is that political and security cooperation is institutionalised in the Organ on Politics, Defence, one of the principal SADC bodies, it is subject to the oversight of the organisations supreme body, the Summit, which comprises the heads of state or government. The organisation holds its own event in the form of the SADC Games. Originally planned for a date in Malawi and Lesotho, organisational issues led to abandonment of the plan. The first event in 2004 in Maputo resulted in over 1000 youths under-20 from 10 countries taking part in a programme including athletics, football, netball, boxing. SADC has 27 legally binding protocols dealing with such as Defence, Development, Illicit Drug Trade, Free Trade. Protocol on Energy – Intended to promote development of national energy policies. H. E. The SADC Free Trade Area was established in August 2008, after the implementation of the SADC Protocol on Trade in 2000 laid the foundation for its formation. Its original members were Botswana, Lesotho, Madagascar, Mauritius, Mozambique, Namibia, South Africa, Swaziland, Tanzania, Zambia and Zimbabwe, of the 15 SADC member states, only Angola, the Democratic Republic of Congo and Seychelles are not yet participating. The leaders of the three trading blocs agreed to create a free trade zone, the African Free Trade Zone. It is hoped the African Free Trade Zone agreement would ease access to markets within the zone, the only difference is that the African Free Trade Zone is the creation of independent African Countries
2.
Gaborone
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Gaborone is the capital and largest city of Botswana with a population of 231,626 based on the 2011 census, about 10% of the total population of Botswana. Its agglomeration is home to 421,907 inhabitants at the 2011 census, Gaborone is situated between Kgale and Oodi Hills, on the Notwane River in the south-eastern corner of Botswana, and 15 kilometres from the South African border. The city is served by the Sir Seretse Khama International Airport and it is an administrative district in its own right, but is the capital of the surrounding South-East District. Locals often refer to the city as Gabs, many languages are spoken there, Setswana being the main language. English, iKalanga, and the language of the Kgalagadi, are also spoken. Because the city had no affiliation and was close to fresh water. The centre of the city is a strip of commercial businesses, called the Mall. The city is one of the cities in the world. The city has dealt with conflicts spilling into the country from Zimbabwe. The city is the government capital as well as the capital, the city is headquarters to numerous companies. Evidence shows that there have been inhabitants along the Notwane River for centuries, in more recent history, Kgosi Gaborone left the Magaliesberg to settle in the area around 1880, and called the settlement Moshaweng. The word Gaborone literally means it does not fit badly or it is not unbecoming, the city was then called Gaberones by the early European settlers. The nickname, GC, comes from the name Government Camp, in 1890, Cecil John Rhodes picked Gaberones to house a colonial fort. The fort was where Rhodes planned the Jameson Raid, the city changed its name from Gaberones to Gaborone in 1969. In 1965, the capital of the Bechuanaland Protectorate moved from Mafeking to Gaberones, when Botswana gained its independence, Lobatse was the first choice as the nations capital. However, Lobatse was deemed too limited, and instead, a new city would be created next to Gaberones. The city was planned under Garden city principles with numerous pedestrian walkways, Building of Gaborone started in mid-1964. Most of the city was built three years
3.
Botswana Pula
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The pula is the currency of Botswana. It has the ISO4217 code BWP and is subdivided into 100 thebe, pula literally means rain in Setswana, because rain is very scarce in Botswana — home to much of the Kalahari Desert — and therefore valuable and a blessing. The sub-unit, thebe, means shield, representing defence, the names were picked with the help of the public. The pula was introduced in 1976, replacing the South African rand at par, despite a 12% devaluation in May 2005, the pula remains one of the strongest currencies in Africa. In 1976, coins were introduced in denominations of 1,5,10,25 and 50 thebe and 1 pula, the 1 thebe was struck in aluminium, with the 5 thebe in bronze and the others in cupro-nickel. These coins were round except for the scalloped 1 pula, bronze, dodecagonal 2 thebe coins were introduced in 1981 and discontinued after 1985. A similarly shaped, nickel-brass 2 pula was introduced in 1994, in 2004, the composition was changed to brass-plated steel and the size was slightly reduced. A bimetallic 5 pula depicting a mopane caterpillar and a branch of the tree it feeds on was introduced in 2000 composed of a cupronickel center in a ring made of aluminium-nickel-bronze. A new series of coins was introduced in 2013, on August 23,1976, the Bank of Botswana introduced notes in denominations of 1,2,5, and 10 pula, a 20-pula note followed on February 16,1978. The 1 and 2 pula notes were replaced by coins in 1991 and 1994, whilst the first 50 and 100 pula notes were introduced on May 29,1990 and August 23,1993, the 5 pula note was replaced by a coin in 2000. The original 1,2 and 5 pula banknotes were demonetized on 1 July 2011, the latest series of notes was introduced on 23 August 2009 and contains for the first time, a 200-pula banknote. Due to hyperinflation in Zimbabwe in 2006 to 2008, the government has allowed circulation of foreign currency since September 2008, local currency became obsolete on April 12,2009. Several currencies, including the South African rand and Botswana pula circulate in Zimbabwe, economy of Botswana Historical banknotes of Botswana
4.
Gross domestic product
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Gross Domestic Product is a monetary measure of the market value of all final goods and services produced in a period. Nominal GDP estimates are used to determine the economic performance of a whole country or region. The OECD defines GDP as a measure of production equal to the sum of the gross values added of all resident and institutional units engaged in production. ”An IMF publication states that GDP measures the monetary value of final goods and services - that is. Total GDP can also be broken down into the contribution of industry or sector of the economy. The ratio of GDP to the population of the region is the per capita GDP. William Petty came up with a concept of GDP to defend landlords against unfair taxation during warfare between the Dutch and the English between 1652 and 1674. Charles Davenant developed the method further in 1695, the modern concept of GDP was first developed by Simon Kuznets for a US Congress report in 1934. In this report, Kuznets warned against its use as a measure of welfare, after the Bretton Woods conference in 1944, GDP became the main tool for measuring a countrys economy. The switch from GNP to GDP in the US was in 1991, the history of the concept of GDP should be distinguished from the history of changes in ways of estimating it. The value added by firms is relatively easy to calculate from their accounts, but the value added by the sector, by financial industries. GDP can be determined in three ways, all of which should, in principle, give the same result and they are the production approach, the income approach, or the expenditure approach. The most direct of the three is the approach, which sums the outputs of every class of enterprise to arrive at the total. The income approach works on the principle that the incomes of the factors must be equal to the value of their product. This approach mirrors the OECD definition given above, deduct intermediate consumption from gross value to obtain the gross value added. Gross value added = gross value of output – value of intermediate consumption, value of output = value of the total sales of goods and services plus value of changes in the inventories. The sum of the value added in the various economic activities is known as GDP at factor cost. GDP at factor cost plus indirect taxes less subsidies on products = GDP at producer price, for measuring output of domestic product, economic activities are classified into various sectors. Subtracting each sectors intermediate consumption from gross output gives the GDP at factor cost, adding indirect tax minus subsidies in GDP at factor cost gives the GDP at producer prices
5.
List of countries by GDP (nominal)
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Gross domestic product is the market value of all final goods and services from a nation in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, such fluctuations may change a countrys ranking from one year to the next, even though they often make little or no difference in the standard of living of its population. Comparisons of national wealth are also made on the basis of purchasing power parity. On the whole, PPP per capita figures are less spread than nominal GDP per capita figures, india has also experienced a similar economic boom since the implementation of neoliberal reforms in the early 1990s. When supranational entities are included, the European Union is the second largest economy in the world and it was the largest from 2004, when ten countries joined the union, to 2014, after which it was surpassed by the United States. Several economies which are not considered to be countries are included in the lists because they appear in the sources as distinct economies and these economies are italicized and not ranked in the charts, but are listed where applicable. List of countries by GDP List of countries by GDP per capita List of countries by GDP per capita
6.
List of countries by GDP (PPP)
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This article includes a list of countries by their gross domestic product, the value of all final goods and services produced within a state in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, the GDP dollar data given on this page are derived from purchasing power parity calculations. It is however limited when measuring financial flows between countries, PPP is often used to gauge global poverty thresholds and is used by the United Nations in constructing the human development index. These surveys such as the International Comparison Program include both tradable and non-tradable goods in an attempt to estimate a representative basket of all goods. The first table includes estimates for the year 2016, for all current 187 International Monetary Fund members, as well as Hong Kong, data are in millions of international dollars and were calculated by the IMF. Figures were published in April 2015, the second table includes data mostly for the year 2015 for 180 of the 193 current United Nations member states, as well as the two Chinese Special Administrative Regions. Data are in billions of dollars and were compiled by the World Bank. The third table is a tabulation of the CIA World Factbook Gross Domestic Product data update of 2016, the data for GDP at purchasing power parity have also been rebased using the new International Comparison Program price surveys and extrapolated to 2007. Click on one of the triangles in the headings to re-order the list according to that category. ^a Chinas PPP is based on prices for 11 administrative regions, extrapolated to the country. Chinas entry does not include the two administrative regions, namely Hong Kong and Macau. List of Muslim Countries by GDP Purchasing Power Parity at Materia Islamica
7.
Agriculture
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Agriculture is the cultivation and breeding of animals, plants and fungi for food, fiber, biofuel, medicinal plants and other products used to sustain and enhance human life. Agriculture was the key development in the rise of human civilization. The study of agriculture is known as agricultural science, the history of agriculture dates back thousands of years, and its development has been driven and defined by greatly different climates, cultures, and technologies. Industrial agriculture based on large-scale monoculture farming has become the dominant agricultural methodology, genetically modified organisms are an increasing component of agriculture, although they are banned in several countries. Agricultural food production and water management are increasingly becoming global issues that are fostering debate on a number of fronts, the major agricultural products can be broadly grouped into foods, fibers, fuels, and raw materials. Specific foods include cereals, vegetables, fruits, oils, meats, fibers include cotton, wool, hemp, silk and flax. Raw materials include lumber and bamboo, other useful materials are also produced by plants, such as resins, dyes, drugs, perfumes, biofuels and ornamental products such as cut flowers and nursery plants. The word agriculture is a late Middle English adaptation of Latin agricultūra, from ager, field, Agriculture usually refers to human activities, although it is also observed in certain species of ant, termite and ambrosia beetle. To practice agriculture means to use resources to produce commodities which maintain life, including food, fiber, forest products, horticultural crops. This definition includes arable farming or agronomy, and horticulture, all terms for the growing of plants, even then, it is acknowledged that there is a large amount of knowledge transfer and overlap between silviculture and agriculture. In traditional farming, the two are often combined even on small landholdings, leading to the term agroforestry, Agriculture began independently in different parts of the globe, and included a diverse range of taxa. At least 11 separate regions of the Old and New World were involved as independent centers of origin, wild grains were collected and eaten from at least 105,000 years ago. Pigs were domesticated in Mesopotamia around 15,000 years ago, rice was domesticated in China between 13,500 and 8,200 years ago, followed by mung, soy and azuki beans. Sheep were domesticated in Mesopotamia between 13,000 and 11,000 years ago. From around 11,500 years ago, the eight Neolithic founder crops, emmer and einkorn wheat, hulled barley, peas, lentils, bitter vetch, chick peas and flax were cultivated in the Levant. Cattle were domesticated from the aurochs in the areas of modern Turkey. In the Andes of South America, the potato was domesticated between 10,000 and 7,000 years ago, along with beans, coca, llamas, alpacas, sugarcane and some root vegetables were domesticated in New Guinea around 9,000 years ago. Sorghum was domesticated in the Sahel region of Africa by 7,000 years ago, cotton was domesticated in Peru by 5,600 years ago, and was independently domesticated in Eurasia at an unknown time
8.
Industry
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Industry is the production of goods or related services within an economy. The major source of revenue of a group or company is the indicator of its relevant industry, when a large group has multiple sources of revenue generation, it is considered to be working in different industries. Manufacturing industry became a key sector of production and labour in European and North American countries during the Industrial Revolution, upsetting previous mercantile and this came through many successive rapid advances in technology, such as the production of steel and coal. Following the Industrial Revolution, possibly a third of the economic output are derived that is from manufacturing industries. Many developed countries and many developing/semi-developed countries depend significantly on manufacturing industry, Industries, the countries they reside in, and the economies of those countries are interlinked in a complex web of interdependence. Industries can be classified in a variety of ways, at the top level, industry is often classified according to the three-sector theory into sectors, primary, secondary, and tertiary. Some authors add quaternary or even quinary sectors, over time, the fraction of a societys industry within each sector changes. Below the economic sectors there are other more detailed industry classifications. These classification systems commonly divide industries according to functions and markets. Market-based classification systems such as the Global Industry Classification Standard and the Industry Classification Benchmark are used in finance, the International Standard Industrial Classification of all economic activities is the most complete and systematic industrial classification made by the United Nations Statistics Division. ISIC is a classification of economic activities arranged so that entities can be classified according to the activity they carry out. The Industrial Revolution led to the development of factories for large-scale production, originally the factories were steam-powered, but later transitioned to electricity once an electrical grid was developed. The mechanized assembly line was introduced to parts in a repeatable fashion. This led to significant increases in efficiency, lowering the cost of the end process, later automation was increasingly used to replace human operators. This process has accelerated with the development of the computer and the robot, historically certain manufacturing industries have gone into a decline due to various economic factors, including the development of replacement technology or the loss of competitive advantage. An example of the former is the decline in manufacturing when the automobile was mass-produced. A recent trend has been the migration of prosperous, industrialized nations towards a post-industrial society and this is manifested by an increase in the service sector at the expense of manufacturing, and the development of an information-based economy, the so-called informational revolution. In a post-industrial society, manufacturing is relocated to more favourable locations through a process of off-shoring
9.
Service (economics)
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In economics, a service is a transaction in which no physical goods is transferred from the seller to the buyer. The benefits of such a service are held to be demonstrated by the willingness to make the exchange. Public services are those that society as a whole pays for, using resources, skill, ingenuity, and experience, service providers benefit service consumers. Services can be described in terms of their key characteristics, sometimes called the Five Is of Services and they are not manufactured, transported or stocked. Services cannot be stored for a future use and they are produced and consumed simultaneously. Services are perishable in two regards, Service-relevant resources, processes and systems are assigned for delivery during a specific period in time. If the service consumer does not request and consume the service during this period, from the perspective of the service provider, this is a lost business opportunity if no other use for those resources is available. Examples, A hairdresser serves another client, an empty seat on an airplane cannot be filled after departure. When the service has been rendered to the consumer, this particular service irreversibly vanishes. Example, a passenger has been transported to the destination and the flight is over, the service provider must deliver the service at the time of service consumption. The service is not manifested in an object that is independent of the provider. The service consumer is also inseparable from service delivery, examples, The service consumer must sit in the hairdressers chair, or in the airplane seat. Correspondingly, the hairdresser or the pilot must be in the shop or plane, respectively, many services are regarded as heterogeneous and are typically modified for each service consumer or each service context. Another and more common term for this is heterogeneity, both service provider and service consumer participate in the service provision. Mass generation and delivery of services must be mastered for a provider to expand. This can be seen as a problem of service quality, both inputs and outputs to the processes involved providing services are highly variable, as are the relationships between these processes, making it difficult to maintain consistent service quality. Many services involve variable human activity, rather than a precisely determined process, the human factor is often the key success factor in service provision. Demand can vary by season, time of day, business cycle, consistency is necessary to create enduring business relationships
10.
Inflation
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In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time resulting in a loss of value of currency. When the price rises, each unit of currency buys fewer goods. Consequently, inflation reflects a reduction in the power per unit of money – a loss of real value in the medium of exchange. A chief measure of inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index. The opposite of inflation is deflation, Inflation affects economies in various positive and negative ways. Economists generally believe that high rates of inflation and hyperinflation are caused by a growth of the money supply. However, money supply growth does not necessarily cause inflation, some economists maintain that under the conditions of a liquidity trap, large monetary injections are like pushing on a string. Views on which factors determine low to moderate rates of inflation are more varied, low or moderate inflation may be attributed to fluctuations in real demand for goods and services, or changes in available supplies such as during scarcities. However, the view is that a long sustained period of inflation is caused by money supply growing faster than the rate of economic growth. Today, most economists favor a low and steady rate of inflation, the task of keeping the rate of inflation low and stable is usually given to monetary authorities. Rapid increases in quantity of the money or in the money supply have occurred in many different societies throughout history. By diluting the gold with other metals, the government could issue more coins without also needing to increase the amount of used to make them. When the cost of each coin is lowered in this way and this practice would increase the money supply but at the same time the relative value of each coin would be lowered. As the relative value of the coins becomes lower, consumers would need to give more coins in exchange for the same goods and these goods and services would experience a price increase as the value of each coin is reduced. Song Dynasty China introduced the practice of printing paper money in order to create fiat currency, during the Mongol Yuan Dynasty, the government spent a great deal of money fighting costly wars, and reacted by printing more money, leading to inflation. Fearing the inflation that plagued the Yuan dynasty, the Ming Dynasty initially rejected the use of paper money, historically, large infusions of gold or silver into an economy also led to inflation. This was largely caused by the influx of gold and silver from the New World into Habsburg Spain. The silver spread throughout a previously cash-starved Europe and caused widespread inflation, demographic factors also contributed to upward pressure on prices, with European population growth after depopulation caused by the Black Death pandemic
11.
Consumer price index
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A consumer price index measures changes in the price level of market basket of consumer goods and services purchased by households. The CPI is a statistical estimate constructed using the prices of a sample of items whose prices are collected periodically. It is one of several price indices calculated by most national statistical agencies, the annual percentage change in a CPI is used as a measure of inflation. A CPI can be used to index the real value of wages, salaries, pensions, for regulating prices, in most countries, the CPI is, along with the population census one of the most closely watched national economic statistics. Basic types of data that are needed to construct the CPI, price data, the price data are collected for a sample of goods and services from a sample of sales outlets in a sample of locations for a sample of times. The weighting data are estimates of the shares of the different types of expenditure in the total expenditure covered by the index, therefore, the sampling variance cannot be calculated. In any case, an estimate is required in most of the purposes for which the index is used. These indices compare prices each month with prices in the price-reference month and it takes time to assemble and process the information used for weighting which, in addition to household expenditure surveys, may include trade and tax data. Ideally, the weights would relate to the composition of expenditure during the time between the month and the current month. There is a large technical economics literature on index formulae which would approximate this, such an index would show how consumer expenditure would have to move to compensate for price changes so as to allow consumers to maintain a constant standard of living. Approximations can only be computed retrospectively, whereas the index has to appear monthly and, preferably, the coverage of the index may be limited. Saving and investment are always excluded, though the prices paid for services provided by financial intermediaries may be included along with insurance. The index reference period, usually called the year, often differs both from the weight-reference period and the price reference period. This is just a matter of rescaling the whole time-series to make the value for the index reference-period equal to 100. Current Item Price = Base Year Price × Current CPI Base Year CPI or CPI2 CPI1 = Price 2 Price 1 Where 1 is usually the comparison year, alternatively, the CPI can be performed as CPI = updated cost base period cost ×100. The updated cost is divided by that of the initial year, many but not all price indices are weighted averages using weights that sum to 1 or 100. Example, The prices of 85,000 items from 22,000 stores, and 35,000 rental units are added together and averaged. They are weighted this way, Housing,41. 4%, Food and Beverage,17. 4%, Transport,17. 0%, Medical Care,6. 9%, Other,6. 9%, Apparel,6. 0%, Entertainment,4. 4%
12.
Poverty threshold
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The poverty threshold, poverty limit or poverty line is the minimum level of income deemed adequate in a particular country. In practice, like the definition of poverty, the official or common understanding of the poverty line is higher in developed countries than in developing countries. In 2008, the World Bank came out with a figure of $1.25 at 2005 purchasing-power parity, the new IPL replaces the $1.25 per day figure, which used 2005 data. Most scholars agree that it better reflects todays reality, particularly new price levels in developing countries, the common international poverty line has in the past been roughly $1 a day. At present the percentage of the population living under extreme poverty is likely to fall below 10% according to the World Bank projections released in 2015. Determining the poverty line is usually done by finding the total cost of all the resources that an average human adult consumes in one year. Individual factors are used to account for various circumstances, such as whether one is a parent, elderly. The poverty threshold may be adjusted annually, charles Booth, a pioneering investigator of poverty in London at the turn of the 20th century, popularised the idea of a poverty line, a concept originally conceived by the London School Board. Booth set the line at 10 to 20 shillings per week, to secure the necessaries of a healthy life, which included fuel and light, rent, food, clothing, and household and personal items. Based on data from leading nutritionists of the period, he calculated the cheapest price for the minimum calorific intake and nutritional balance necessary and he considered this amount to set his poverty line and concluded that 27. 84% of the total population of York lived below this poverty line. Rowntree distinguished between primary poverty, those lacking in income and secondary poverty, those who had enough income, Absolute poverty is the level of poverty as defined in terms of the minimal requirements necessary to afford minimal standards of food, clothing, health care and shelter. For the measure to be absolute, the line must be the same in different countries, cultures, such an absolute measure should look only at the individuals power to consume and it should be independent of any changes in income distribution. Notice that if real income in an economy increases. Measuring poverty by a threshold has the advantage of applying the same standard across different locations and time periods. For example, a living in far northern Scandinavia requires a source of heat during colder months. The term absolute poverty is sometimes used as a synonym for extreme poverty. Absolute poverty is the absence of resources to secure basic life necessities. It depends not only on income but also on access to services, safe drinking water, Water must not come solely from rivers and ponds, and must be available nearby
13.
Diamond
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Diamond is a metastable allotrope of carbon, where the carbon atoms are arranged in a variation of the face-centered cubic crystal structure called a diamond lattice. Diamond is less stable than graphite, but the rate from diamond to graphite is negligible at standard conditions. Diamond is renowned as a material with superlative physical qualities, most of which originate from the covalent bonding between its atoms. In particular, diamond has the highest hardness and thermal conductivity of any bulk material and those properties determine the major industrial application of diamond in cutting and polishing tools and the scientific applications in diamond knives and diamond anvil cells. Because of its extremely rigid lattice, it can be contaminated by very few types of impurities, such as boron, small amounts of defects or impurities color diamond blue, yellow, brown, green, purple, pink, orange or red. Diamond also has relatively high optical dispersion, most natural diamonds are formed at high temperature and pressure at depths of 140 to 190 kilometers in the Earths mantle. Carbon-containing minerals provide the source, and the growth occurs over periods from 1 billion to 3.3 billion years. Diamonds are brought close to the Earths surface through deep volcanic eruptions by magma, Diamonds can also be produced synthetically in a HPHT method which approximately simulates the conditions in the Earths mantle. An alternative, and completely different growth technique is chemical vapor deposition, several non-diamond materials, which include cubic zirconia and silicon carbide and are often called diamond simulants, resemble diamond in appearance and many properties. Special gemological techniques have developed to distinguish natural diamonds, synthetic diamonds. The word is from the ancient Greek ἀδάμας – adámas unbreakable, the name diamond is derived from the ancient Greek αδάμας, proper, unalterable, unbreakable, untamed, from ἀ-, un- + δαμάω, I overpower, I tame. Diamonds have been known in India for at least 3,000 years, Diamonds have been treasured as gemstones since their use as religious icons in ancient India. Their usage in engraving tools also dates to early human history, later in 1797, the English chemist Smithson Tennant repeated and expanded that experiment. By demonstrating that burning diamond and graphite releases the same amount of gas, the most familiar uses of diamonds today are as gemstones used for adornment, a use which dates back into antiquity, and as industrial abrasives for cutting hard materials. The dispersion of light into spectral colors is the primary gemological characteristic of gem diamonds. In the 20th century, experts in gemology developed methods of grading diamonds, four characteristics, known informally as the four Cs, are now commonly used as the basic descriptors of diamonds, these are carat, cut, color, and clarity. A large, flawless diamond is known as a paragon and these conditions are met in two places on Earth, in the lithospheric mantle below relatively stable continental plates, and at the site of a meteorite strike. The conditions for diamond formation to happen in the mantle occur at considerable depth corresponding to the requirements of temperature and pressure
14.
Copper
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Copper is a chemical element with symbol Cu and atomic number 29. It is a soft, malleable, and ductile metal with high thermal and electrical conductivity. A freshly exposed surface of copper has a reddish-orange color. Copper is one of the few metals that occur in nature in directly usable metallic form as opposed to needing extraction from an ore and this led to very early human use, from c.8000 BC. Copper used in buildings, usually for roofing, oxidizes to form a green verdigris, Copper is sometimes used in decorative art, both in its elemental metal form and in compounds as pigments. Copper compounds are used as agents, fungicides, and wood preservatives. Copper is essential to all living organisms as a trace dietary mineral because it is a key constituent of the enzyme complex cytochrome c oxidase. In molluscs and crustaceans, copper is a constituent of the blood pigment hemocyanin, replaced by the hemoglobin in fish. In humans, copper is found mainly in the liver, muscle, the adult body contains between 1.4 and 2.1 mg of copper per kilogram of body weight. The filled d-shells in these elements contribute little to interatomic interactions, unlike metals with incomplete d-shells, metallic bonds in copper are lacking a covalent character and are relatively weak. This observation explains the low hardness and high ductility of single crystals of copper, at the macroscopic scale, introduction of extended defects to the crystal lattice, such as grain boundaries, hinders flow of the material under applied stress, thereby increasing its hardness. For this reason, copper is supplied in a fine-grained polycrystalline form. The softness of copper partly explains its high conductivity and high thermal conductivity. The maximum permissible current density of copper in open air is approximately 3. 1×106 A/m2 of cross-sectional area, Copper is one of a few metallic elements with a natural color other than gray or silver. Pure copper is orange-red and acquires a reddish tarnish when exposed to air, as with other metals, if copper is put in contact with another metal, galvanic corrosion will occur. A green layer of verdigris can often be seen on old structures, such as the roofing of many older buildings. Copper tarnishes when exposed to sulfur compounds, with which it reacts to form various copper sulfides. There are 29 isotopes of copper, 63Cu and 65Cu are stable, with 63Cu comprising approximately 69% of naturally occurring copper, both have a spin of 3⁄2
15.
Nickel
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Nickel is a chemical element with symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a golden tinge. Nickel belongs to the metals and is hard and ductile. Meteoric nickel is found in combination with iron, a reflection of the origin of elements as major end products of supernova nucleosynthesis. An iron–nickel mixture is thought to compose Earths inner core, use of nickel has been traced as far back as 3500 BCE. Nickel was first isolated and classified as an element in 1751 by Axel Fredrik Cronstedt. The elements name comes from a mischievous sprite of German miner mythology, Nickel, an economically important source of nickel is the iron ore limonite, which often contains 1–2% nickel. Nickels other important ore minerals include garnierite, and pentlandite, major production sites include the Sudbury region in Canada, New Caledonia in the Pacific, and Norilsk in Russia. Nickel is slowly oxidized by air at room temperature and is considered corrosion-resistant, historically, it has been used for plating iron and brass, coating chemistry equipment, and manufacturing certain alloys that retain a high silvery polish, such as German silver. About 6% of world production is still used for corrosion-resistant pure-nickel plating. Nickel-plated objects sometimes provoke nickel allergy, Nickel has been widely used in coins, though its rising price has led to some replacement with cheaper metals in recent years. Nickel is one of four elements that are ferromagnetic around room temperature, alnico permanent magnets based partly on nickel are of intermediate strength between iron-based permanent magnets and rare-earth magnets. The metal is valuable in modern times chiefly in alloys, about 60% of world production is used in nickel-steels, other common alloys and some new superalloys comprise most of the remainder of world nickel use, with chemical uses for nickel compounds consuming less than 3% of production. As a compound, nickel has a number of chemical manufacturing uses. Nickel is a nutrient for some microorganisms and plants that have enzymes with nickel as an active site. Nickel is a metal with a slight golden tinge that takes a high polish. It is one of four elements that are magnetic at or near room temperature. Its Curie temperature is 355 °C, meaning that bulk nickel is non-magnetic above this temperature, the unit cell of nickel is a face-centered cube with the lattice parameter of 0.352 nm, giving an atomic radius of 0.124 nm
16.
Salt
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Salt is present in vast quantities in seawater, where it is the main mineral constituent. The open ocean has about 35 grams of solids per litre, Salt is essential for life in general, and saltiness is one of the basic human tastes. The tissues of animals contain larger quantities of salt than do plant tissues, Salt is one of the oldest and most ubiquitous food seasonings, and salting is an important method of food preservation. Salt was also prized by the ancient Hebrews, the Greeks, the Romans, the Byzantines, the Hittites, Egyptians, and the Indians. Salt became an important article of trade and was transported by boat across the Mediterranean Sea, along specially built salt roads, the scarcity and universal need for salt has led nations to go to war over it and use it to raise tax revenues. Salt is used in ceremonies and has other cultural significance. Salt is processed from salt mines, or by the evaporation of seawater or mineral-rich spring water in shallow pools. Its major industrial products are caustic soda and chlorine, and is used in industrial processes including the manufacture of polyvinyl chloride, plastics, paper pulp. Of the annual production of around two hundred million tonnes of salt, only about 6% is used for human consumption. Other uses include water conditioning processes, de-icing highways, and agricultural use, edible salt is sold in forms such as sea salt and table salt which usually contains an anti-caking agent and may be iodised to prevent iodine deficiency. As well as its use in cooking and at the table, sodium is an essential nutrient for human health via its role as an electrolyte and osmotic solute. Excessive salt consumption can increase the risk of diseases, such as hypertension, in children. Such health effects of salt have long been studied, accordingly, numerous world health associations and experts in developed countries recommend reducing consumption of popular salty foods. The World Health Organization recommends that adults should consume less than 2,000 mg of sodium, humans have always tended to build communities either around sources of salt, or where they can trade for it. All through history the availability of salt has been pivotal to civilization, the word salary comes from the Latin word for salt because the Roman Legions were sometimes paid in salt. The Natron Valley was a key region that supported the Egyptian Empire to its north, because it supplied it with a kind of salt that came to be called by its name, natron. Even before this, what is now thought to have been the first city in Europe is Solnitsata, in Bulgaria, even the name Solnisata means salt works. A very ancient salt-works operation has been discovered at the Poiana Slatinei archaeological site next to a spring in Lunca, Neamț County
17.
Soda ash
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Sodium carbonate, Na2CO3, is the water-soluble sodium salt of carbonic acid. It most commonly occurs as a crystalline decahydrate, which readily effloresces to form a white powder, pure sodium carbonate is a white, odorless powder that is hygroscopic. It has a strongly alkaline taste, and forms a basic solution in water. Sodium carbonate is known domestically for its everyday use as a water softener. Historically it was extracted from the ashes of plants growing in soils, such as vegetation from the Middle East, kelp from Scotland. Because the ashes of these plants were noticeably different from ashes of timber. It is synthetically produced in quantities from salt and limestone by a method known as the Solvay process. The manufacture of glass is one of the most important uses of sodium carbonate, Sodium carbonate acts as a flux for silica, lowering the melting point of the mixture to something achievable without special materials. This soda glass is mildly water-soluble, so some calcium carbonate is added to the mixture to make the glass produced insoluble. This type of glass is known as soda lime glass, soda for the sodium carbonate, soda lime glass has been the most common form of glass for centuries. Sodium carbonate is used as a relatively strong base in various settings. For example, it is used as a pH regulator to maintain stable alkaline conditions necessary for the action of the majority of film developing agents. It acts as an alkali because when dissolved in water, it dissociates into the acid, carbonic acid. This gives sodium carbonate in solution the ability to attack such as aluminium with the release of hydrogen gas. It is an additive in swimming pools used to raise the ph which can be lowered by chlorine tablets. In cooking, it is used in place of sodium hydroxide for lyeing, especially with German pretzels. These dishes are treated with a solution of a substance to change the pH of the surface of the food. In chemistry, it is used as an electrolyte
18.
Potash
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Potash /ˈpɒtæʃ/ is any of various mined and manufactured salts that contain potassium in water-soluble form. The name derives from pot ash, which refers to plant ashes soaked in water in a pot, the word potassium is derived from potash. Potash is produced worldwide at amounts exceeding 30 million tonnes per year, various types of fertilizer-potash thus constitute the single largest global industrial use of the element potassium. Potassium was first derived by electrolysis of caustic potash, in 1807, Potash refers to potassium compounds and potassium-bearing materials, the most common being potassium chloride. The term potash comes from the Middle Dutch word potaschen, approximately 10% by weight of common wood ash can be recovered as pot ash. Later, potash became the term applied to naturally occurring potassium salts. Potash ores are rich in potassium chloride and sodium chloride and are typically obtained by conventional shaft mining with the extracted ore ground into a powder. Other methods include dissolution mining and evaporation methods from brines, in the evaporation method hot water is injected into the potash which is dissolved and then pumped to the surface where it is concentrated by solar induced evaporation. Amine reagents are added to either the mined or evaporated solutions. The amine coats the KCl but not NaCl, air bubbles cling to the amine + KCl and float it to the surface while the NaCl and clay sink to the bottom. The surface is skimmed for the amine + KCl which is dried and packaged for use as a K rich fertilizer—KCl dissolves readily in water and is available quickly for plant nutrition. Potash deposits can be all over the world. At present deposits are being mined in Canada, Russia, China, Belarus, Israel, Germany, Chile, the United States, Jordan, Spain, Potash has been used in bleaching textiles, making glass, and making soap, since about AD500. Potash was principally obtained by leaching the ashes of land and sea plants, beginning in the 14th century potash was mined in Ethiopia. One of the worlds largest deposits,140 to 150 million tons, is located in the Tigrays Dallol area, Potash was one of the most important industrial chemicals in Canada. It was refined from the ashes of broadleaved trees and produced primarily in the areas of Europe, Russia. The first U. S. patent of any kind was issued in 1790 to Samuel Hopkins for an improvement in the making of Pot ash and Pearl ash by a new Apparatus, Pearl ash was a purer quality made by the ignition of cream of tartar. Potash pits were used in England to produce potash that was used in making soap for the preparation of wool for yarn production
19.
Livestock
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Livestock are domesticated animals raised in an agricultural setting to produce commodities such as food, fiber, and labor. The term is used to refer solely to those raised for food. In recent years, some organizations have also raised livestock to promote the survival of rare breeds, animal husbandry practices have varied widely across cultures and time periods. Originally, livestock were not confined by fences or enclosures, but these practices have largely shifted to intensive animal farming and these practices increase yield of the various commercial outputs, but have led to increased concerns about animal welfare and environmental impact. Livestock production continues to play an economic and cultural role in numerous rural communities. Livestock as a word was first used between 1650 and 1660, as a merger between the live and stock. Older English sources, such as the King James Version of the Bible, the word cattle is derived from Old North French catel, which meant all kinds of movable personal property, including livestock, which was differentiated from immovable real estate. In later English, sometimes smaller livestock such as chickens and pigs were referred to as small cattle, today, the modern meaning of cattle, without a modifier, usually refers to domesticated bovines, but sometimes livestock refers only to this subgroup. Legal definition United States federal legislation sometimes more narrowly defines the term to make specified agricultural commodities either eligible or ineligible for a program or activity, for example, the Livestock Mandatory Reporting Act of 1999 defines livestock only as cattle, swine, and sheep. Animal-rearing originated during the transition to settled farming communities from hunter-gatherer lifestyles. Animals are domesticated when their breeding and living conditions are controlled by humans, over time, the collective behaviour, lifecycle and physiology of livestock have changed radically. Many modern farm animals are unsuited to life in the wild, dogs were domesticated in East Asia about 15,000 years ago. Goats and sheep were domesticated around 8000 BC in Asia, swine or pigs were domesticated by 7000 BC in the Middle East and China. The earliest evidence of horse domestication dates to around 4000 BC, the term livestock is nebulous and may be defined narrowly or broadly. Broadly, livestock refers to any breed or population of animal kept by humans for a useful and this can mean domestic animals, semidomestic animals, or captive wild animals. Semidomesticated refers to animals which are only lightly domesticated or of disputed status and these populations may also be in the process of domestication. Some people may use the term livestock to refer to only used for red meat. Livestock are used by humans for a variety of purposes, many of which have an economic value, Livestock products include, Meat A useful form of dietary protein and energy, meat is the edible tissue of the animal carcass
20.
Textiles
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A textile or cloth is a flexible material consisting of a network of natural or artificial fibres. Yarn is produced by spinning raw fibres of wool, flax, cotton, hemp, Textiles are formed by weaving, knitting, crocheting, knotting, or felting. The words fabric and cloth are used in textile assembly trades as synonyms for textile, however, there are subtle differences in these terms in specialized usage. Textile refers to any material made of interlacing fibres, a fabric is a material made through weaving, knitting, spreading, crocheting, or bonding that may be used in production of further goods. Cloth may be used synonymously with fabric but is often a piece of fabric used for a specific purpose. The word textile is from Latin, from the adjective textilis, meaning woven, from textus, the word cloth derives from the Old English clað, meaning a cloth, woven or felted material to wrap around one, from Proto-Germanic kalithaz. The discovery of dyed flax fibres in a cave in the Republic of Georgia dated to 34,000 BCE suggests textile-like materials were made even in prehistoric times. The production of textiles is a craft whose speed and scale of production has been altered almost beyond recognition by industrialization, however, for the main types of textiles, plain weave, twill, or satin weave, there is little difference between the ancient and modern methods. Textiles have an assortment of uses, the most common of which are for clothing and for such as bags. In the household they are used in carpeting, upholstered furnishings, window shades, towels, coverings for tables, beds, and other flat surfaces, in the workplace they are used in industrial and scientific processes such as filtering. Textiles are used in traditional crafts such as sewing, quilting. Textiles for industrial purposes, and chosen for other than their appearance, are commonly referred to as technical textiles. Technical textiles include textile structures for applications, medical textiles, geotextiles, agrotextiles. In all these applications stringent performance requirements must be met, woven of threads coated with zinc oxide nanowires, laboratory fabric has been shown capable of self-powering nanosystems using vibrations created by everyday actions like wind or body movements. Fashion designers commonly rely on textile designs to set their fashion collections apart from others, armani, the late Gianni Versace, and Emilio Pucci can be easily recognized by their signature print driven designs. Textiles can be made from many materials and these materials come from four main sources, animal, plant, mineral, and synthetic. In the past, all textiles were made from natural fibres, including plant, animal, in the 20th century, these were supplemented by artificial fibres made from petroleum. Textiles are made in various strengths and degrees of durability, from the finest gossamer to the sturdiest canvas, microfibre refers to fibres made of strands thinner than one denier
21.
Meat
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Meat is animal flesh that is eaten as food. Humans have hunted and killed animals for meat since prehistoric times, the advent of civilization allowed the domestication of animals such as chickens, sheep, pigs and cattle. This eventually led to their use in production on an industrial scale with the aid of slaughterhouses. Meat is mainly composed of water, protein, and fat and it is edible raw, but is normally eaten after it has been cooked and seasoned or processed in a variety of ways. Unprocessed meat will spoil or rot within hours or days as a result of infection with and decomposition by bacteria, most often, meat refers to skeletal muscle and associated fat and other tissues, but it may also describe other edible tissues such as offal. The word meat comes from the Old English word mete, which referred to food in general, the term is related to mad in Danish, mat in Swedish and Norwegian, and matur in Icelandic and Faroese, which also mean food. The word mete also exists in Old Frisian to denote important food, differentiating it from swiets, paleontological evidence suggests that meat constituted a substantial proportion of the diet of even the earliest humans. Early hunter-gatherers depended on the hunting of large animals such as bison. Several breeds of sheep were established in ancient Mesopotamia and Egypt by 3500–3000 BC, today, more than 200 sheep-breeds exist. Cattle were domesticated in Mesopotamia after settled agriculture was established about 5000 BC, modern domesticated cattle fall into the groups Bos taurus and Bos indicus, both descended from the now-extinct aurochs. The breeding of cattle, cattle optimized for meat production as opposed to animals best suited for draught or dairy purposes. Domestic pigs, which are descended from boars, are known to have existed about 2500 BC in modern-day Hungary and in Troy, earlier pottery from Jericho. Pork sausages and hams were of commercial importance in Greco-Roman times. Pigs continue to be bred intensively as they are being optimized to produce meat best suited for meat products. Other animals are or have raised or hunted for their flesh. The type of meat consumed varies much between different cultures, changes over time, depending on such as tradition and the availability of the animals. The amount and kind of meat consumed also varies by income, horses are commonly eaten in France, Italy, Germany and Japan, among other countries. Horses and other mammals such as reindeer were hunted during the late Paleolithic in western Europe
22.
European Free Trade Association
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The European Free Trade Association is a regional trade organisation and Free trade area consisting of four European states, Iceland, Liechtenstein, Norway, and Switzerland. The organisation operates in parallel with the European Union, and all the four member states participate in the EUs single market, the Stockholm Convention, to establish the EFTA, was signed on 4 January 1960 in the Swedish capital by seven countries. On 3 May 1960, the EFTA was established serving as a trade bloc for the European states who were unable or unwilling to join the then European Economic Community. Today, only two founding members remain, Norway and Switzerland, the other five of which were Austria, Denmark, Portugal, Sweden and the United Kingdom. While the EFTA is not a union and member states have full rights to enter into bilateral third-country trade arrangements. As a result, its states have jointly concluded Free trade agreements with a number of other countries. Switzerland has a set of agreements with the EU instead. On 12 January 1960, the Treaty on the European Free Trade Association was initiated in the Golden Hall of the Princes Palace of Stockholm and this established the progressive elimination of customs duties on industrial products, but did not affect agricultural products or maritime trade. This was rather less than the increase enjoyed by countries inside the EEC, after the accession of Denmark, Ireland, and the UK to the EEC in January 1973, the EFTA began to falter. For this reason, most countries eased or eliminated their trade tariffs in preparation to join the EEC, then, four members remained, Switzerland, Norway, Liechtenstein and Iceland. The interactive Free Trade Map gives an overview of the partners worldwide, the Portugal Fund was established in 1975 when Portugal was still a member of EFTA. It was to provide funding for the development of Portugal after the Carnation Revolution and this followed the period of economic sanctions by most of the international community, having left Portugal economically underdeveloped compared to the rest of the western Europe. When Portugal left EFTA in 1985 in order join the EEC, the Fund originally took the form of a low-interest loan from the EFTA member states to Portugal, to the value of $US100 million. Repayment was originally to commence in 1988, however EFTA then decided to postpone the start of repayments until 1998, the Portugal Fund has now been dissolved by the member states of EFTA. The founding members of the EFTA were Austria, Denmark, Norway, Portugal, Sweden, Switzerland, during the 1960s, these countries were often referred to as the Outer Seven, as opposed to the Inner Six of the then European Economic Community. Finland became a member in 1961 and a full member in 1986. The United Kingdom and Denmark joined the EEC in 1973, Portugal also left EFTA for the European Community in 1986. Liechtenstein joined the EFTA in 1991, Austria, Sweden, and Finland joined the EU in 1995 and thus ceased to be EFTA members
23.
EFTA
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The European Free Trade Association is a regional trade organisation and Free trade area consisting of four European states, Iceland, Liechtenstein, Norway, and Switzerland. The organisation operates in parallel with the European Union, and all the four member states participate in the EUs single market, the Stockholm Convention, to establish the EFTA, was signed on 4 January 1960 in the Swedish capital by seven countries. On 3 May 1960, the EFTA was established serving as a trade bloc for the European states who were unable or unwilling to join the then European Economic Community. Today, only two founding members remain, Norway and Switzerland, the other five of which were Austria, Denmark, Portugal, Sweden and the United Kingdom. While the EFTA is not a union and member states have full rights to enter into bilateral third-country trade arrangements. As a result, its states have jointly concluded Free trade agreements with a number of other countries. Switzerland has a set of agreements with the EU instead. On 12 January 1960, the Treaty on the European Free Trade Association was initiated in the Golden Hall of the Princes Palace of Stockholm and this established the progressive elimination of customs duties on industrial products, but did not affect agricultural products or maritime trade. This was rather less than the increase enjoyed by countries inside the EEC, after the accession of Denmark, Ireland, and the UK to the EEC in January 1973, the EFTA began to falter. For this reason, most countries eased or eliminated their trade tariffs in preparation to join the EEC, then, four members remained, Switzerland, Norway, Liechtenstein and Iceland. The interactive Free Trade Map gives an overview of the partners worldwide, the Portugal Fund was established in 1975 when Portugal was still a member of EFTA. It was to provide funding for the development of Portugal after the Carnation Revolution and this followed the period of economic sanctions by most of the international community, having left Portugal economically underdeveloped compared to the rest of the western Europe. When Portugal left EFTA in 1985 in order join the EEC, the Fund originally took the form of a low-interest loan from the EFTA member states to Portugal, to the value of $US100 million. Repayment was originally to commence in 1988, however EFTA then decided to postpone the start of repayments until 1998, the Portugal Fund has now been dissolved by the member states of EFTA. The founding members of the EFTA were Austria, Denmark, Norway, Portugal, Sweden, Switzerland, during the 1960s, these countries were often referred to as the Outer Seven, as opposed to the Inner Six of the then European Economic Community. Finland became a member in 1961 and a full member in 1986. The United Kingdom and Denmark joined the EEC in 1973, Portugal also left EFTA for the European Community in 1986. Liechtenstein joined the EFTA in 1991, Austria, Sweden, and Finland joined the EU in 1995 and thus ceased to be EFTA members
24.
Southern African Customs Union
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The Southern African Customs Union is a customs union among five countries of Southern Africa, Botswana, Lesotho, Namibia, South Africa and Swaziland. Its headquarters is in the Namibian capital Windhoek, SACU is the oldest existing customs union in the world. It was established in 1910 pursuant to a Customs Union Agreement between the then Union of South Africa and the High Commission Territories of Bechuanaland, Basutoland and Swaziland, the updated union officially entered into force on 1 March 1970. After Namibias independence from South Africa in 1990, it joined SACU as its fifth member, as of 2007, the Executive Secretary of the SACU was Tswelopele C. The union meets annually to discuss matters related to the Agreement and its aim is to maintain the free interchange of goods between member countries. It provides for a common external tariff and a common excise tariff to this common customs area, all customs and excise collected in the common customs area are paid into South Africa’s National Revenue Fund. The revenue is shared among members according to a formula as described in the agreement. South Africa is the custodian of this pool, only the BLNS Member States shares are calculated with South Africa receiving the residual. SACU revenue constitutes a substantial share of the revenue of the BLNS countries. With this in mind, the Ministers of Trade and Industry of the five states met in Pretoria on 11 November 1994 to discuss the renegotiation of the 1969 agreement. The Ministers appointed a Customs Union Task Team which was mandated to make recommendations to the Ministers, CUTT has met on numerous occasions in the Members States and good progress has been made in the renegotiation process. It would be the supreme SACU decision-making body and would meet quarterly, the decisions taken by this council would only be by consensus. Commission Administrative body composed of Senior Officials, three Technical Liaison Committees and an established Agricultural Liaison Committee, tribunal An independent body of experts. It would report directly to the Council of Ministers, the tribunal would be responsible for tariff-setting and the Anti-dumping Mechanism. Secretariat Responsible for day-to-day operations of the pool and it would be funded from the revenue pool. Its location would be determined by Senior Officials who were directed to meet after one month to develop proposals for the implementation of the revised SACU Institutional Structure. It was agreed that these components would be distributed as follows, The customs component should be allocated according to each country’s share of total intra-SACU trade, the excise component, net of the development component, should be allocated on the basis of GDP. The development component should be fixed at 15% of the total excise pool, while SACU entered into a free trade deal with the four-nation European Free Trade Association on 1 July 2006, its negotiations with the United States for a free trade agreement have stalled
25.
SACU
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The Southern African Customs Union is a customs union among five countries of Southern Africa, Botswana, Lesotho, Namibia, South Africa and Swaziland. Its headquarters is in the Namibian capital Windhoek, SACU is the oldest existing customs union in the world. It was established in 1910 pursuant to a Customs Union Agreement between the then Union of South Africa and the High Commission Territories of Bechuanaland, Basutoland and Swaziland, the updated union officially entered into force on 1 March 1970. After Namibias independence from South Africa in 1990, it joined SACU as its fifth member, as of 2007, the Executive Secretary of the SACU was Tswelopele C. The union meets annually to discuss matters related to the Agreement and its aim is to maintain the free interchange of goods between member countries. It provides for a common external tariff and a common excise tariff to this common customs area, all customs and excise collected in the common customs area are paid into South Africa’s National Revenue Fund. The revenue is shared among members according to a formula as described in the agreement. South Africa is the custodian of this pool, only the BLNS Member States shares are calculated with South Africa receiving the residual. SACU revenue constitutes a substantial share of the revenue of the BLNS countries. With this in mind, the Ministers of Trade and Industry of the five states met in Pretoria on 11 November 1994 to discuss the renegotiation of the 1969 agreement. The Ministers appointed a Customs Union Task Team which was mandated to make recommendations to the Ministers, CUTT has met on numerous occasions in the Members States and good progress has been made in the renegotiation process. It would be the supreme SACU decision-making body and would meet quarterly, the decisions taken by this council would only be by consensus. Commission Administrative body composed of Senior Officials, three Technical Liaison Committees and an established Agricultural Liaison Committee, tribunal An independent body of experts. It would report directly to the Council of Ministers, the tribunal would be responsible for tariff-setting and the Anti-dumping Mechanism. Secretariat Responsible for day-to-day operations of the pool and it would be funded from the revenue pool. Its location would be determined by Senior Officials who were directed to meet after one month to develop proposals for the implementation of the revised SACU Institutional Structure. It was agreed that these components would be distributed as follows, The customs component should be allocated according to each country’s share of total intra-SACU trade, the excise component, net of the development component, should be allocated on the basis of GDP. The development component should be fixed at 15% of the total excise pool, while SACU entered into a free trade deal with the four-nation European Free Trade Association on 1 July 2006, its negotiations with the United States for a free trade agreement have stalled
26.
Zimbabwe
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Zimbabwe, officially the Republic of Zimbabwe, is a landlocked country located in southern Africa, between the Zambezi and Limpopo Rivers. It is bordered by South Africa to the south, Botswana to the west and southwest, Zambia to the northwest, although it does not border Namibia, less than 200 metres of the Zambezi River separates it from that country. The capital and largest city is Harare, a country of roughly 13 million people, Zimbabwe has 16 official languages, with English, Shona, and Ndebele the most commonly used. Since the 11th century, present-day Zimbabwe has been the site of several organised states and kingdoms as well as a route for migration. The British South Africa Company of Cecil Rhodes first demarcated the present territory during the 1890s, in 1965, the conservative white minority government unilaterally declared independence as Rhodesia. Zimbabwe then rejoined the Commonwealth of Nations—which it withdrew from in 2003 and it is a member of the United Nations, the Southern African Development Community, the African Union, and the Common Market for Eastern and Southern Africa. Robert Mugabe became Prime Minister of Zimbabwe in 1980, when his ZANU-PF party won the following the end of white minority rule. Under Mugabes authoritarian regime, the security apparatus has dominated the country. Mugabe has maintained the revolutionary socialist rhetoric from the Cold War era, the name Zimbabwe stems from a Shona term for Great Zimbabwe, an ancient ruined city in the countrys south-east whose remains are now a protected site. Two different theories address the origin of the word, many sources hold that Zimbabwe derives from dzimba-dza-mabwe, translated from the Karanga dialect of Shona as large houses of stone. The Karanga-speaking Shona people live around Great Zimbabwe in the province of Masvingo. Zimbabwe was formerly known as Southern Rhodesia, Rhodesia, and Zimbabwe Rhodesia, a further alternative, put forward by nationalists in Matabeleland, had been Matopos, referring to the Matopos Hills to the south of Bulawayo. In a 2001 interview, black nationalist Edson Zvobgo recalled that Mawema mentioned the name during a rally, and it caught hold. The black nationalist factions subsequently used the name the during the Second Chimurenga campaigns against the Rhodesian government during the Rhodesian Bush War of 1964-1979, major factions in this camp included the Zimbabwe African National Union, and the Zimbabwe African Peoples Union. Proto-Shona-speaking societies first emerged in the middle Limpopo valley in the 9th century before moving on to the Zimbabwean highlands, the Zimbabwean plateau eventually became the centre of subsequent Shona states, beginning around the 10th century. Around the early 10th century, trade developed with Arab merchants on the Indian Ocean coast, the main archaeological site uses a unique dry stone architecture. The Kingdom of Mapungubwe was the first in a series of sophisticated trade states developed in Zimbabwe by the time of the first European explorers from Portugal and they traded in gold, ivory, and copper for cloth and glass. From about 1300 until 1600, Mapungubwe was eclipsed by the Kingdom of Zimbabwe and this Shona state further refined and expanded upon Mapungubwes stone architecture, which survives to this day at the ruins of the kingdoms capital of Great Zimbabwe
27.
Machinery
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Machines employ power to achieve desired forces and movement. A machine has a source and actuators that generate forces and movement. Modern machines often include computers and sensors that monitor performance and plan movement, the meaning of the word machine is traced by the Oxford English Dictionary to an independently functioning structure and by Merriam-Webster Dictionary to something that has been constructed. This includes human design into the meaning of machine, similarly Merriam-Webster Dictionary defines mechanical as relating to machinery or tools. Power flow through a machine provides a way to understand the performance of devices ranging from levers and gear trains to automobiles, notice that forces and motion combine to define power. More recently, Uicker et al. stated that a machine is a device for applying power or changing its direction, and McCarthy and Soh describe a machine as a system that generally consists of a power source and a mechanism for the controlled use of this power. The idea that a machine can be decomposed into simple movable elements led Archimedes to define the lever, pulley, by the time of the Renaissance this list increased to include the wheel and axle, wedge and inclined plane. The modern approach to characterizing machines focusses on the components that allow movement, wedge, Perhaps the first example of a device designed to manage power is the hand axe, also see biface and Olorgesailie. A hand axe is made by chipping stone, generally flint, to form a bifacial edge, a wedge is a simple machine that transforms lateral force and movement of the tool into a transverse splitting force and movement of the workpiece. The available power is limited by the effort of the using the tool, but because power is the product of force and movement. This amplification, or mechanical advantage is the ratio of the speed to output speed. For a wedge this is given by 1/tanα, where α is the tip angle, the faces of a wedge are modeled as straight lines to form a sliding or prismatic joint. Lever, The lever is another important and simple device for managing power and this is a body that pivots on a fulcrum. The fulcrum of a lever is modeled as a hinged or revolute joint, wheel, The wheel is clearly an important early machine, such as the chariot. A wheel uses the law of the lever to reduce the force needed to overcome friction when pulling a load. To see this notice that the associated with pulling a load on the ground is approximately the same as the friction in a simple bearing that supports the load on the axle of a wheel. However, the forms a lever that magnifies the pulling force so that it overcomes the frictional resistance in the bearing. Natural forces such as wind and water powered larger mechanical systems, waterwheels appeared around the world around 300 BC to use flowing water to generate rotary motion, which was applied to milling grain, and powering lumber, machining and textile operations
28.
Electrical
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Electricity is the set of physical phenomena associated with the presence of electric charge. Although initially considered a separate to magnetism, since the development of Maxwells Equations both are recognized as part of a single phenomenon, electromagnetism. Various common phenomena are related to electricity, including lightning, static electricity, electric heating, electric discharges, in addition, electricity is at the heart of many modern technologies. The presence of a charge, which can be either positive or negative. On the other hand, the movement of charges, which is known as electric current. When a charge is placed in a location with non-zero electric field, the magnitude of this force is given by Coulombs Law. Thus, if that charge were to move, the field would be doing work on the electric charge. Electrical phenomena have been studied since antiquity, though progress in theoretical understanding remained slow until the seventeenth and eighteenth centuries. Even then, practical applications for electricity were few, and it would not be until the nineteenth century that engineers were able to put it to industrial and residential use. The rapid expansion in electrical technology at this time transformed industry, electricitys extraordinary versatility means it can be put to an almost limitless set of applications which include transport, heating, lighting, communications, and computation. Electrical power is now the backbone of modern industrial society, long before any knowledge of electricity existed, people were aware of shocks from electric fish. Ancient Egyptian texts dating from 2750 BCE referred to these fish as the Thunderer of the Nile, Electric fish were again reported millennia later by ancient Greek, Roman and Arabic naturalists and physicians. Patients suffering from such as gout or headache were directed to touch electric fish in the hope that the powerful jolt might cure them. Ancient cultures around the Mediterranean knew that certain objects, such as rods of amber, Thales was incorrect in believing the attraction was due to a magnetic effect, but later science would prove a link between magnetism and electricity. He coined the New Latin word electricus to refer to the property of attracting small objects after being rubbed and this association gave rise to the English words electric and electricity, which made their first appearance in print in Thomas Brownes Pseudodoxia Epidemica of 1646. Further work was conducted by Otto von Guericke, Robert Boyle, Stephen Gray, in the 18th century, Benjamin Franklin conducted extensive research in electricity, selling his possessions to fund his work. In June 1752 he is reputed to have attached a key to the bottom of a dampened kite string. A succession of jumping from the key to the back of his hand showed that lightning was indeed electrical in nature
29.
Transport
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Transport or transportation is the movement of people, animals and goods from one location to another. Modes of transport include air, rail, road, water, cable, pipeline, the field can be divided into infrastructure, vehicles and operations. Transport is important because it enables trade between people, which is essential for the development of civilizations, terminals may be used both for interchange of passengers and cargo and for maintenance. Vehicles traveling on these networks may include automobiles, bicycles, buses, trains, trucks, people, helicopters, operations deal with the way the vehicles are operated, and the procedures set for this purpose including financing, legalities and policies. In the transport industry, operations and ownership of infrastructure can be public or private, depending on the country. Passenger transport may be public, where operators provide scheduled services, freight transport has become focused on containerization, although bulk transport is used for large volumes of durable items. Transport plays an important part in growth and globalization, but most types cause air pollution. While it is subsidized by governments, good planning of transport is essential to make traffic flow. A mode of transport is a solution that makes use of a type of vehicle, infrastructure. The transport of a person or of cargo may involve one mode or several of the modes, each mode has its own advantages and disadvantages, and will be chosen for a trip on the basis of cost, capability, and route. Human powered transport, a form of transportation, is the transport of people and/or goods using human muscle-power. Modern technology has allowed machines to enhance human power, human-powered vehicles have also been developed for difficult environments, such as snow and water, by watercraft rowing and skiing, even the air can be entered with human-powered aircraft. Animal-powered transport is the use of working animals for the movement of people, humans may ride some of the animals directly, use them as pack animals for carrying goods, or harness them, alone or in teams, to pull sleds or wheeled vehicles. A fixed-wing aircraft, commonly called airplane, is a craft where movement of the air in relation to the wings is used to generate lift. The term is used to distinguish this from rotary-wing aircraft, where the movement of the lift surfaces relative to the air generates lift, a gyroplane is both fixed-wing and rotary-wing. Fixed-wing aircraft range from small trainers and recreational aircraft to large airliners, two things necessary for aircraft are air flow over the wings for lift and an area for landing. The majority of aircraft also need an airport with the infrastructure to receive maintenance, restocking, refueling and for the loading and unloading of crew, cargo and passengers. While the vast majority of land and take off on land, some are capable of take off and landing on ice, snow
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Fuel
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A fuel is any material that can be made to react with other substances so that it releases chemical or nuclear energy as heat or to be used for work. The concept was applied solely to those materials capable of releasing chemical energy but has since also been applied to other sources of heat energy such as nuclear energy. The heat energy released by reactions of fuels is converted into mechanical energy via a heat engine, other times the heat itself is valued for warmth, cooking, or industrial processes, as well as the illumination that comes with combustion. Fuels are also used in the cells of organisms in a known as cellular respiration. Hydrocarbons and related oxygen-containing molecules are by far the most common source of fuel used by humans, fuels are contrasted with other substances or devices storing potential energy, such as those that directly release electrical energy or mechanical energy. The first known use of fuel was the combustion of wood or sticks by Homo erectus near 2,000,000 years ago, throughout most of human history fuels derived from plants or animal fat were only used by humans. Charcoal, a derivative, has been used since at least 6,000 BCE for melting metals. It was only supplanted by coke, derived from coal, as European forests started to become depleted around the 18th century, charcoal briquettes are now commonly used as a fuel for barbecue cooking. Coal was first used as a fuel around 1000 BCE in China, coal was later used to drive ships and locomotives. By the 19th century, gas extracted from coal was being used for lighting in London. In the 20th and 21st centuries, the use of coal is to generate electricity. Fossil fuels were rapidly adopted during the revolution, because they were more concentrated and flexible than traditional energy sources. They have become a part of our contemporary society, with most countries in the world burning fossil fuels in order to produce power. Currently the trend has been towards renewable fuels, such as biofuels like alcohols, chemical fuels are substances that release energy by reacting with substances around them, most notably by the process of combustion. Most of the energy released in combustion was not stored in the chemical bonds of the fuel. Chemical fuels are divided in two ways, first, by their physical properties, as a solid, liquid or gas. Secondly, on the basis of their occurrence, primary and secondary, solid fuels include wood, charcoal, peat, coal, Hexamine fuel tablets, and pellets made from wood, corn, wheat, rye and other grains. Solid-fuel rocket technology also uses solid fuel, solid fuels have been used by humanity for many years to create fire
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Petroleum
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Petroleum is a naturally occurring, yellow-to-black liquid found in geological formations beneath the Earths surface, which is commonly refined into various types of fuels. Components of petroleum are separated using a technique called fractional distillation and it consists of hydrocarbons of various molecular weights and other organic compounds. The name petroleum covers both naturally occurring unprocessed crude oil and petroleum products that are made up of refined crude oil. A fossil fuel, petroleum is formed when large quantities of dead organisms, usually zooplankton and algae, are buried underneath sedimentary rock, Petroleum has mostly been recovered by oil drilling. Drilling is carried out studies of structural geology, sedimentary basin analysis. Petroleum is used in manufacturing a variety of materials. Concern over the depletion of the earths finite reserves of oil, the burning of fossil fuels plays the major role in the current episode of global warming. The word petroleum comes from Greek, πέτρα for rocks and Greek, the term was found in 10th-century Old English sources. It was used in the treatise De Natura Fossilium, published in 1546 by the German mineralogist Georg Bauer, Petroleum, in one form or another, has been used since ancient times, and is now important across society, including in economy, politics and technology. Great quantities of it were found on the banks of the river Issus, ancient Persian tablets indicate the medicinal and lighting uses of petroleum in the upper levels of their society. By 347 AD, oil was produced from bamboo-drilled wells in China, early British explorers to Myanmar documented a flourishing oil extraction industry based in Yenangyaung that, in 1795, had hundreds of hand-dug wells under production. The mythological origins of the oil fields at Yenangyaung, and its hereditary monopoly control by 24 families, Pechelbronn is said to be the first European site where petroleum has been explored and used. The still active Erdpechquelle, a spring where petroleum appears mixed with water has been used since 1498, Oil sands have been mined since the 18th century. In Wietze in lower Saxony, natural asphalt/bitumen has been explored since the 18th century, both in Pechelbronn as in Wietze, the coal industry dominated the petroleum technologies. In 1848 Young set up a small business refining the crude oil, Young eventually succeeded, by distilling cannel coal at a low heat, in creating a fluid resembling petroleum, which when treated in the same way as the seep oil gave similar products. The production of oils and solid paraffin wax from coal formed the subject of his patent dated 17 October 1850. In 1850 Young & Meldrum and Edward William Binney entered into partnership under the title of E. W. Binney & Co. at Bathgate in West Lothian, the worlds first oil refinery was built in 1856 by Ignacy Łukasiewicz. The demand for petroleum as a fuel for lighting in North America, edwin Drakes 1859 well near Titusville, Pennsylvania, is popularly considered the first modern well
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Wood
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Wood is a porous and fibrous structural tissue found in the stems and roots of trees, and other woody plants. It is a material, a natural composite of cellulose fibers which are strong in tension embedded in a matrix of lignin which resists compression. Wood is sometimes defined as only the secondary xylem in the stems of trees, in a living tree it performs a support function, enabling woody plants to grow large or to stand up by themselves. It also conveys water and nutrients between the leaves, other growing tissues, and the roots, Wood may also refer to other plant materials with comparable properties, and to material engineered from wood, or wood chips or fiber. In 2005, the stock of forests worldwide was about 434 billion cubic meters. As an abundant, carbon-neutral renewable resource, woody materials have been of intense interest as a source of renewable energy, in 1991 approximately 3.5 billion cubic meters of wood were harvested. Dominant uses were for furniture and building construction, a 2011 discovery in the Canadian province of New Brunswick discovered the earliest known plants to have grown wood, approximately 395 to 400 million years ago. Wood can be dated by carbon dating and in species by dendrochronology to make inferences about when a wooden object was created. People have used wood for millennia for many purposes, primarily as a fuel or as a material for making houses, tools, weapons, furniture, packaging, artworks. Constructions using wood date back ten thousand years, buildings like the European Neolithic long house were made primarily of wood. Recent use of wood has changed by the addition of steel. The year-to-year variation in tree-ring widths and isotopic abundances gives clues to the climate at that time. This process is known as growth, it is the result of cell division in the vascular cambium, a lateral meristem. These cells then go on to form thickened secondary cell walls, composed mainly of cellulose, hemicellulose, if the distinctiveness between seasons is annual, these growth rings are referred to as annual rings. Where there is little seasonal difference growth rings are likely to be indistinct or absent, if the bark of the tree has been removed in a particular area, the rings will likely be deformed as the plant overgrows the scar. It is usually lighter in color than that near the portion of the ring. The outer portion formed later in the season is known as the latewood or summerwood. However, there are differences, depending on the kind of wood
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Paper
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Paper is a thin material produced by pressing together moist fibres of cellulose pulp derived from wood, rags or grasses, and drying them into flexible sheets. It is a material with many uses, including writing, printing, packaging, cleaning. The modern pulp and paper industry is global, with China leading its production, the oldest known archaeological fragments of the immediate precursor to modern paper, date to the 2nd century BC in China. The pulp papermaking process is ascribed to Cai Lun, a 2nd-century AD Han court eunuch, with paper as an effective substitute for silk in many applications, China could export silk in greater quantity, contributing to a Golden Age. Because of papers introduction to the West through the city of Baghdad, in the 19th century, industrial manufacture greatly lowered its cost, enabling mass exchange of information and contributing to significant cultural shifts. In 1844, the Canadian inventor Charles Fenerty and the German F. G. Keller independently developed processes for pulping wood fibres, before the industrialisation of the paper production the most common fibre source was recycled fibres from used textiles, called rags. The rags were from hemp, linen and cotton, a process for removing printing inks from recycled paper was invented by German jurist Justus Claproth in 1774. Today this method is called deinking and it was not until the introduction of wood pulp in 1843 that paper production was not dependent on recycled materials from ragpickers. The word paper is etymologically derived from Latin papyrus, which comes from the Greek πάπυρος, although the word paper is etymologically derived from papyrus, the two are produced very differently and the development of the first is distinct from the development of the second. Papyrus is a lamination of natural plant fibres, while paper is manufactured from fibres whose properties have changed by maceration. To make pulp from wood, a chemical pulping process separates lignin from cellulose fibres and this is accomplished by dissolving lignin in a cooking liquor, so that it may be washed from the cellulose, this preserves the length of the cellulose fibres. Paper made from chemical pulps are also known as wood-free papers–not to be confused with paper, this is because they do not contain lignin. The pulp can also be bleached to produce paper, but this consumes 5% of the fibres, chemical pulping processes are not used to make paper made from cotton. There are three main chemical pulping processes, the process dates back to the 1840s and it was the dominant method extent before the second world war. Most pulping operations using the process are net contributors to the electricity grid or use the electricity to run an adjacent paper mill. Another advantage is that this process recovers and reuses all inorganic chemical reagents, soda pulping is another specialty process used to pulp straws, bagasse and hardwoods with high silicate content. There are two major mechanical pulps, thermomechanical pulp and groundwood pulp, in the TMP process, wood is chipped and then fed into steam heated refiners, where the chips are squeezed and converted to fibres between two steel discs. In the groundwood process, debarked logs are fed into grinders where they are pressed against rotating stones to be made into fibres
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Metal
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A metal is a material that is typically hard, opaque, shiny, and has good electrical and thermal conductivity. Metals are generally malleable—that is, they can be hammered or pressed permanently out of shape without breaking or cracking—as well as fusible and ductile, about 91 of the 118 elements in the periodic table are metals, the others are nonmetals or metalloids. Some elements appear in both metallic and non-metallic forms, astrophysicists use the term metal to collectively describe all elements other than hydrogen and helium, the simplest two, in a star. The star fuses smaller atoms, mostly hydrogen and helium, to larger ones over its lifetime. In that sense, the metallicity of an object is the proportion of its matter made up of all chemical elements. Many elements and compounds that are not normally classified as metals become metallic under high pressures, the atoms of metallic substances are typically arranged in one of three common crystal structures, namely body-centered cubic, face-centered cubic, and hexagonal close-packed. In bcc, each atom is positioned at the center of a cube of eight others, in fcc and hcp, each atom is surrounded by twelve others, but the stacking of the layers differs. Some metals adopt different structures depending on the temperature, atoms of metals readily lose their outer shell electrons, resulting in a free flowing cloud of electrons within their otherwise solid arrangement. This provides the ability of metallic substances to easily transmit heat, while this flow of electrons occurs, the solid characteristic of the metal is produced by electrostatic interactions between each atom and the electron cloud. This type of bond is called a metallic bond, Metals are usually inclined to form cations through electron loss, reacting with oxygen in the air to form oxides over various timescales. Examples,4 Na + O2 →2 Na2O2 Ca + O2 →2 CaO4 Al +3 O2 →2 Al2O3, the transition metals are slower to oxidize because they form a passivating layer of oxide that protects the interior. Others, like palladium, platinum and gold, do not react with the atmosphere at all, some metals form a barrier layer of oxide on their surface which cannot be penetrated by further oxygen molecules and thus retain their shiny appearance and good conductivity for many decades. The oxides of metals are generally basic, as opposed to those of nonmetals, exceptions are largely oxides with very high oxidation states such as CrO3, Mn2O7, and OsO4, which have strictly acidic reactions. Painting, anodizing or plating metals are good ways to prevent their corrosion, however, a more reactive metal in the electrochemical series must be chosen for coating, especially when chipping of the coating is expected. Water and the two form an electrochemical cell, and if the coating is less reactive than the coatee. Metals in general have high conductivity, high thermal conductivity. Typically they are malleable and ductile, deforming under stress without cleaving, in terms of optical properties, metals are shiny and lustrous. Sheets of metal beyond a few micrometres in thickness appear opaque, although most metals have higher densities than most nonmetals, there is wide variation in their densities, lithium being the least dense solid element and osmium the densest
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List of countries by public debt
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This is a list of countries by public debt to GDP ratio as listed by Eurostat for the EU and by CIAs World Factbook 2012 for the rest of the world. It is the total of all government borrowings less repayments that are denominated in a countrys home currency. Gross government debt is the most relevant data for discussions of government default and it is different from external debt, which includes the foreign currency liabilities of non-government entities. The figures here are represented as a percentage of gross domestic product. The public debt relative information provided by national sources is not always objective and true, note that net debt figures are included where gross debt figures are unavailable in the CIA set
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GDP
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Gross Domestic Product is a monetary measure of the market value of all final goods and services produced in a period. Nominal GDP estimates are used to determine the economic performance of a whole country or region. The OECD defines GDP as a measure of production equal to the sum of the gross values added of all resident and institutional units engaged in production. ”An IMF publication states that GDP measures the monetary value of final goods and services - that is. Total GDP can also be broken down into the contribution of industry or sector of the economy. The ratio of GDP to the population of the region is the per capita GDP. William Petty came up with a concept of GDP to defend landlords against unfair taxation during warfare between the Dutch and the English between 1652 and 1674. Charles Davenant developed the method further in 1695, the modern concept of GDP was first developed by Simon Kuznets for a US Congress report in 1934. In this report, Kuznets warned against its use as a measure of welfare, after the Bretton Woods conference in 1944, GDP became the main tool for measuring a countrys economy. The switch from GNP to GDP in the US was in 1991, the history of the concept of GDP should be distinguished from the history of changes in ways of estimating it. The value added by firms is relatively easy to calculate from their accounts, but the value added by the sector, by financial industries. GDP can be determined in three ways, all of which should, in principle, give the same result and they are the production approach, the income approach, or the expenditure approach. The most direct of the three is the approach, which sums the outputs of every class of enterprise to arrive at the total. The income approach works on the principle that the incomes of the factors must be equal to the value of their product. This approach mirrors the OECD definition given above, deduct intermediate consumption from gross value to obtain the gross value added. Gross value added = gross value of output – value of intermediate consumption, value of output = value of the total sales of goods and services plus value of changes in the inventories. The sum of the value added in the various economic activities is known as GDP at factor cost. GDP at factor cost plus indirect taxes less subsidies on products = GDP at producer price, for measuring output of domestic product, economic activities are classified into various sectors. Subtracting each sectors intermediate consumption from gross output gives the GDP at factor cost, adding indirect tax minus subsidies in GDP at factor cost gives the GDP at producer prices
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List of countries by credit rating
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The ratings of DBRS, China Chengxin Credit Rating Group, Dagong and JCR are also included. The list also includes all country subdivisions issuing sovereign bonds, but it excludes regions, for S&P, a bond is considered investment grade if its credit rating is BBB- or higher. Bonds rated BB+ and below are considered to be speculative grade, for Fitch, a bond is considered investment grade if its credit rating is BBB- or higher. Bonds rated BB+ and below are considered to be speculative grade, for Moodys, a bond is considered investment grade if its credit rating is Baa3 or higher. Bonds rated Ba1 and below are considered to be speculative grade, for DBRS, a bond is considered investment grade if its credit rating is BBB or higher. Bonds rated BB and below are considered to be speculative grade, Japan Credit Rating Agency is a credit rating agency based in Japan. JCR is a Nationally Recognized Statistical Rating Organization by the U. S. Securities, Dagong is a credit rating agency based in China. Bond credit rating United States federal government credit-rating downgrades
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Standard & Poor's
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Standard & Poors Financial Services LLC is an American financial services company. It is a division of S&P Global that publishes research and analysis on stocks, bonds. S&P is known for its stock market such as the U. S. -based S&P500, the Canadian S&P/TSX. S&P is considered one of the Big Three credit-rating agencies, which also include Moodys Investors Service and its head office is located on 55 Water Street in Lower Manhattan, New York City. The company traces its history back to 1860, with the publication by Henry Varnum Poor of History of Railroads and this book compiled comprehensive information about the financial and operational state of U. S. railroad companies. In 1868, Henry Varnum Poor established H. V. and H. W, Poor Co. with his son, Henry William Poor, and published two annually updated hardback guidebooks, Poors Manual of the Railroads of the United States and Poors Directory of Railway Officials. In 1906, Luther Lee Blake founded the Standard Statistics Bureau, instead of an annually published book, Standard Statistics would use 5 ×7 cards, allowing for more frequent updates. In 1941, Poors Publishing and Standard Statistics merged to become Standard & Poors Corp, in 1966, the company was acquired by The McGraw-Hill Companies, extending McGraw-Hill into the field of financial information services. As a credit-rating agency, the company issues credit ratings for the debt of public and private companies and it is one of several CRAs that have been designated a nationally recognized statistical rating organization by the U. S. Securities and Exchange Commission. S&P issues both short-term and long-term credit ratings, below is a partial list, see S&Ps website for more information. The company rates borrowers on a scale from AAA to D, intermediate ratings are offered at each level between AA and CCC. For some borrowers, the company may also offer guidance as to whether it is likely to be upgraded, downgraded or uncertain, investment Grade AAA, An obligor rated AAA has extremely strong capacity to meet its financial commitments. AAA is the highest issuer credit rating assigned by Standard & Poors, AA, An obligor rated AA has very strong capacity to meet its financial commitments. It differs from the highest-rated obligors only to a small degree, a+, equivalent to A1 A, equivalent to A2 BBB, An obligor rated BBB has adequate capacity to meet its financial commitments. However, adverse conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitments. Non-Investment Grade BB, An obligor rated BB is less vulnerable in the term than other lower-rated obligors. B, An obligor rated B is more vulnerable than the obligors rated BB, adverse business, financial, or economic conditions will likely impair the obligors capacity or willingness to meet its financial commitments. CCC, An obligor rated CCC is currently vulnerable, and is dependent upon favorable business, financial, CC, An obligor rated CC is currently highly vulnerable
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United States dollar
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The United States dollar is the official currency of the United States and its insular territories per the United States Constitution. It is divided into 100 smaller cent units, the circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars. The U. S. dollar was originally commodity money of silver as enacted by the Coinage Act of 1792 which determined the dollar to be 371 4/16 grain pure or 416 grain standard silver, the currency most used in international transactions, it is the worlds primary reserve currency. Several countries use it as their currency, and in many others it is the de facto currency. Besides the United States, it is used as the sole currency in two British Overseas Territories in the Caribbean, the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while the country mints its own coins, or also accepts U. S. coins that can be used as payment in U. S. dollars. After Nixon shock of 1971, USD became fiat currency, Article I, Section 8 of the U. S. Constitution provides that the Congress has the power To coin money, laws implementing this power are currently codified at 31 U. S. C. Section 5112 prescribes the forms in which the United States dollars should be issued and these coins are both designated in Section 5112 as legal tender in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar, the pure silver dollar is known as the American Silver Eagle. Section 5112 also provides for the minting and issuance of other coins and these other coins are more fully described in Coins of the United States dollar. The Constitution provides that a regular Statement and Account of the Receipts and that provision of the Constitution is made specific by Section 331 of Title 31 of the United States Code. The sums of money reported in the Statements are currently being expressed in U. S. dollars, the U. S. dollar may therefore be described as the unit of account of the United States. The word dollar is one of the words in the first paragraph of Section 9 of Article I of the Constitution, there, dollars is a reference to the Spanish milled dollar, a coin that had a monetary value of 8 Spanish units of currency, or reales. In 1792 the U. S. Congress passed a Coinage Act, Section 20 of the act provided, That the money of account of the United States shall be expressed in dollars, or units. And that all accounts in the offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. In other words, this act designated the United States dollar as the unit of currency of the United States, unlike the Spanish milled dollar the U. S. dollar is based upon a decimal system of values. Both one-dollar coins and notes are produced today, although the form is significantly more common
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Botswana
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Botswana, officially the Republic of Botswana, is a landlocked country located in Southern Africa. The citizens refer to themselves as Batswana, formerly the British protectorate of Bechuanaland, Botswana adopted its new name after becoming independent within the Commonwealth on 30 September 1966. Since then, it has maintained a tradition of stable representative democracy. Botswana is topographically flat, with up to 70 percent of its territory being the Kalahari Desert and it is bordered by South Africa to the south and southeast, Namibia to the west and north, and Zimbabwe to the northeast. Its border with Zambia to the north near Kazungula is poorly defined, a mid-sized country of just over 2 million people, Botswana is one of the most sparsely populated nations in the world. Around 10 percent of the lives in the capital and largest city. The economy is dominated by mining, cattle, and tourism, Botswana boasts a GDP per capita of about $18,825 per year as of 2015, which is one of the highest in Africa. Its high gross national income gives the country a modest standard of living, Botswana is a member of the African Union, the Southern African Development Community, the Commonwealth of Nations, and the United Nations. The country has been among the hardest hit by the HIV/AIDS epidemic, the death rate due to AIDS or AIDS-related causes has fallen sharply from 2005 to 2013, and the number of new infections in children has also fallen. As of 2014, Botswana has the third-highest prevalence rate for HIV/AIDS, the history of Botswana starts more than 100,000 years ago, when the first humans inhabited the region. The original inhabitants of southern Africa were the Bushmen and Khoi peoples, both speak Khoisan languages and lived as hunter-gatherers. About a thousand years ago, large chiefdoms emerged that were later eclipsed by the Great Zimbabwe empire, around 1300 CE, peoples in present-day Transvaal began to coalesce into three main linguistic and political groups, including the Batswana. The Batswana, a term used also to all citizens of Botswana. Prior to European contact, the Batswana lived as herders and farmers under tribal rule, as groups broke off and moved to new land, new tribes were created. Some human development occurred before the colonial period, during the 1700s, the slave and ivory trades were expanding. To resist these pressures, Shaka, the king of the Zulu Empire, conquered tribes began to move northwest into Botswana, destroying everything in their path. In their efforts to re-establish themselves at the end of period, tribes began to exchange ivory and skins for guns with European traders. Christian missionaries sent from Europe also spread to the interior, often at the invitation of tribal chiefs who wanted guns, by 1880 every major village had a resident missionary, and their influence became permanent
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Economy of Asia
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The Economy of Asia comprises more than 4.4 billion people living in 49 different states. Six further states lie partly in Asia, but are considered to belong to another region economically and politically, Asia is the fastest growing economic region and the largest continental economy by GDP PPP in the world. China and India are currently the first and third largest economies in the world, respectively. Moreover, Asia is the site of some of the worlds longest modern economic booms, starting from the Japanese economic miracle, Miracle of the Han River in South Korea, as in all world regions, the wealth of Asia differs widely between, and within, states. This is due to its vast size, meaning a huge range of different cultures, environments, historical ties, israel and, to a lesser extent Turkey are exceptions, both lie in the territory of Asia despite not often being counted as such. Israel is a country, while Turkey is an advanced emerging country. China and India alternated in being the largest economies in the world from 1 to 1800 A. D, the accidental discovery of America by Columbus in search for India demonstrates this deep fascination. The Silk Road became the main East-West trading route in the Asian hitherland while the Straits of Malacca stood as a sea route. Prior to World War II, most of Asia was under colonial rule, only relatively few states managed to remain independent in the face of constant pressure exerted by European power. Such examples are China, Siam and Japan, Japan in particular managed to develop its economy due to a reformation in the 19th century. The reformation was comprehensive and is known as the Meiji Restoration. The Japanese economy continued to grow well into the 20th century, as a result, the Japanese expansion began with a great part of Korea and China annexed, thus allowing the Japanese to secure strategic resources. At the same time, Southeast Asia was prospering due to trade, the volume of trade continued to increase with the opening of the Suez Canal in the 1860s. Manila had its Manila galleon wherein products from the Philippines were traded to Europe, the Philippines was the first Asian country to trade with Latin America via Acapulco. Tobacco, coconut, corn, and sugar trade was the most in demand during that time, Singapore, founded in 1819, rose to prominence as trade between the east and the west increased at an incredible rate. The British colony of Malaya, now part of Malaysia, was the worlds largest producer of tin, the Dutch East Indies, now Indonesia, on the other hand, was known for its spices production. Both the British and the Dutch created their own trading companies to manage their trade flow in Asia, the British created the British East India Company while the Dutch formed Dutch East India Company. Both companies maintained trade monopolies of their respective colonies, in 1908, crude oil was first discovered in Persia, modern day Iran
42.
Foreign exchange reserves
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Reserves are held in one or more reserve currency, mostly the United States dollar and to a lesser extent the Japanese yen. In a strict sense, foreign-exchange reserves should only include foreign banknotes, foreign bank deposits, foreign treasury bills, however, the term in popular usage commonly also adds gold reserves, special drawing rights, and International Monetary Fund reserve positions. This broader figure is readily available, but it is more accurately termed official international reserves or international reserves. Foreign-exchange reserves are called reserve assets in the balance of payments and are located in the capital account, hence, they are usually an important part of the international investment position of a country. The reserves are labeled as reserve assets under assets by functional category, there is no counterpart for reserve assets in liabilities of the International Investment Position. Usually, when the authority of a country has some kind of liability. In the Central Bank’s Balance Sheet, foreign reserves are assets. Official international reserves assets allow a bank to purchase the domestic currency. This is known as Trilemma or Impossible trinity, hence, in a world of perfect capital mobility, a country with fixed exchange rate would not be able to execute an independent monetary policy. Under perfect capital mobility, the change in reserves is a temporary measure, hence, in the long term, the monetary policy has to be adjusted in order to be compatible with that of the country of the base currency. Without that, the country will experience outflows or inflows of capital, fixed pegs were usually used as a form of monetary policy, since attaching the domestic currency to a currency of a country with lower levels of inflation should usually assure convergence of prices. In a pure flexible exchange rate regime or floating exchange rate regime, theoretically, in this case reserves are not necessary. Other instruments of policy are generally used, such as interest rates in the context of an inflation targeting regime. Also, he valued the role of exchange rate as a price, mixed exchange rate regimes may require the use of foreign exchange operations to maintain the targeted exchange rate within the prescribed limits, such as fixed exchange rate regimes. As seen above, there is a relation between exchange rate policy and monetary policy. Foreign exchange operations can be sterilized or unsterilized, non-sterilization will cause an expansion or contraction in the amount of domestic currency in circulation, and hence directly affect inflation and monetary policy. Since the domestic money supply is increasing, this may provoke domestic inflation, also, some central banks may let the exchange rate appreciate to control inflation, usually by the channel of cheapening tradable goods. Since the amount of reserves available to defend a weak currency is limited
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Transparency International
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Transparency International e. V. is an international non-governmental organization which is based in Berlin, Germany, and was founded in 1993. Its nonprofit purpose is to take action to combat corruption and prevent criminal activities arising from corruption and it publishes for example the Global Corruption Barometer and the Corruption Perceptions Index. Transparency International has the status of a German registered voluntary association. Its members are besides a few more than 100 national chapters which engage in fighting corruption in their home countries. Transparency International states, Transparency International is the civil society organization leading the fight against corruption. It brings people together in a worldwide coalition to end the devastating impact of corruption on men, women and children around the world. TIs mission is to change towards a world free of corruption. The organization defines corruption as the abuse of entrusted power for private gain which eventually hurts everyone who depends on the integrity of people in a position of authority, Transparency International does not undertake investigations on single cases of corruption or expose individual cases. It develops tools for fighting corruption and works with other civil society organizations, companies, since 1995, Transparency International has issued an annual Corruption Perceptions Index, it also publishes a Global Corruption Report, a Global Corruption Barometer and a Bribe Payers Index. In 2013 Transparency International published the Government Defence Anti-corruption Index with which corruption in the sector of 82 countries was measured. Some governments expressed criticism towards the methodology of the report, mark Pyman defended the report in an interview and stressed the importance of transparency in the military sector. The plan is to publish the index every two years, the Corruption Perceptions Index ranks countries and territories based on how corrupt their public sector is perceived to be. It is a composite index – a combination of polls – drawing on corruption-related data collected by a variety of reputable institutions, the CPI reflects the views of observers from around the world. The Corruption Perceptions Index has received criticism over the years, the main one stems from the difficulty in measuring corruption, which by definition happens behind the scenes. The Corruption Perceptions Index therefore needs to rely on third-party survey which have criticized as potentially unreliable. Data can vary depending on the public perception of a country, the completeness of the surveys. The second issue is that data cannot be compared from year to year because Transparency International uses different methodologies and samples every year and this makes it difficult to evaluate the result of new policies. The Corruption Perceptions Index authors replied to these criticisms by reminding that the Corruption Perceptions Index is meant to measure perception and they argue that perceptions matter in their own right, since
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Purchasing power parity
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Observed deviations of the exchange rate from purchasing power parity are measured by deviations of the real exchange rate from its PPP value of 1. PPP exchange rates help to minimize misleading international comparisons that can arise with the use of exchange rates. For example, suppose that two countries produce the same amounts of goods as each other in each of two different years. But if one countrys GDP is converted into the countrys currency using PPP exchange rates instead of observed market exchange rates. The idea originated with the School of Salamanca in the 16th century, the best-known purchasing power adjustment is the Geary–Khamis dollar. The real exchange rate is equal to the nominal exchange rate. If purchasing power parity held exactly, then the exchange rate would always equal one. However, in practice the exchange rates exhibit both short run and long run deviations from this value, for example due to reasons illuminated in the Balassa–Samuelson theorem. There can be marked differences between purchasing power adjusted incomes and those converted via market exchange rates. This discrepancy has large implications, for instance, when converted via the exchange rates GDP per capita in India is about US$1,965 while on a PPP basis it is about US$7,197. At the other extreme, Denmarks nominal GDP per capita is around US$62,100, the purchasing power parity exchange rate serves two main functions. PPP exchange rates can be useful for making comparisons between countries because they stay fairly constant from day to day or week to week and only change modestly, if at all, from year to year. The PPP exchange-rate calculation is controversial because of the difficulties of finding comparable baskets of goods to compare purchasing power across countries, people in different countries typically consume different baskets of goods. It is necessary to compare the cost of baskets of goods and this is a difficult task because purchasing patterns and even the goods available to purchase differ across countries. Thus, it is necessary to make adjustments for differences in the quality of goods, furthermore, the basket of goods representative of one economy will vary from that of another, Americans eat more bread, Chinese more rice. Hence a PPP calculated using the US consumption as a base will differ from that calculated using China as a base, additional statistical difficulties arise with multilateral comparisons when more than two countries are to be compared. Various ways of averaging bilateral PPPs can provide a stable multilateral comparison. These are all issues of indexing, as with other price indices there is no way to reduce complexity to a single number that is equally satisfying for all purposes
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Turkey
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Turkey, officially the Republic of Turkey, is a transcontinental country in Eurasia, mainly in Anatolia in Western Asia, with a smaller portion on the Balkan peninsula in Southeast Europe. Turkey is a democratic, secular, unitary, parliamentary republic with a cultural heritage. The country is encircled by seas on three sides, the Aegean Sea is to the west, the Black Sea to the north, and the Mediterranean Sea to the south. The Bosphorus, the Sea of Marmara, and the Dardanelles, Ankara is the capital while Istanbul is the countrys largest city and main cultural and commercial centre. Approximately 70-80% of the countrys citizens identify themselves as ethnic Turks, other ethnic groups include legally recognised and unrecognised minorities. Kurds are the largest ethnic minority group, making up approximately 20% of the population, the area of Turkey has been inhabited since the Paleolithic by various ancient Anatolian civilisations, as well as Assyrians, Greeks, Thracians, Phrygians, Urartians and Armenians. After Alexander the Greats conquest, the area was Hellenized, a process continued under the Roman Empire. The Seljuk Sultanate of Rûm ruled Anatolia until the Mongol invasion in 1243, the empire reached the peak of its power in the 16th century, especially during the reign of Suleiman the Magnificent. During the war, the Ottoman government committed genocides against its Armenian, Assyrian, following the war, the conglomeration of territories and peoples that formerly comprised the Ottoman Empire was partitioned into several new states. Turkey is a member of the UN, an early member of NATO. Turkeys growing economy and diplomatic initiatives have led to its recognition as a regional power while her location has given it geopolitical, the name of Turkey is based on the ethnonym Türk. The first recorded use of the term Türk or Türük as an autonym is contained in the Old Turkic inscriptions of the Göktürks of Central Asia, the English name Turkey first appeared in the late 14th century and is derived from Medieval Latin Turchia. Similarly, the medieval Khazar Empire, a Turkic state on the shores of the Black. The medieval Arabs referred to the Mamluk Sultanate as al-Dawla al-Turkiyya, the Ottoman Empire was sometimes referred to as Turkey or the Turkish Empire among its European contemporaries. The Anatolian peninsula, comprising most of modern Turkey, is one of the oldest permanently settled regions in the world, various ancient Anatolian populations have lived in Anatolia, from at least the Neolithic period until the Hellenistic period. Many of these peoples spoke the Anatolian languages, a branch of the larger Indo-European language family, in fact, given the antiquity of the Indo-European Hittite and Luwian languages, some scholars have proposed Anatolia as the hypothetical centre from which the Indo-European languages radiated. The European part of Turkey, called Eastern Thrace, has also been inhabited since at least forty years ago. It is the largest and best-preserved Neolithic site found to date, the settlement of Troy started in the Neolithic Age and continued into the Iron Age
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