1.
Jakarta
–
Jakarta /dʒəˈkɑːrtə/, officially the Special Capital Region of Jakarta, is the capital and most populous city of the Republic of Indonesia. Located on the northwest coast of the worlds most populous island of Java, Jakarta is the economic, cultural and political centre. The official metropolitan area, known as Jabodetabek, is the second largest in the world, established in the fourth century, the city became an important trading port for the Kingdom of Sunda. It was the de facto capital of the Dutch East Indies, today, the city has continued as the capital of Indonesia since the countrys independence was declared in 1945. Jakarta is listed as a city in the 2012 Globalization and World Cities Study Group. Based on the global metro monitor by the Brookings Institution, in 2014, Jakarta has grown more rapidly than Kuala Lumpur, Beijing, and Bangkok. Jakarta has been home to multiple settlements along with their names, Sunda Kelapa, Jayakarta, Batavia, Djakarta. Its current name derives from the word Jayakarta, the origins of this word can be traced to the Old Javanese and ultimately to the Sanskrit language. Jayakarta translates as victorious deed, complete act, or complete victory, Jakarta is nicknamed the Big Durian, the thorny strongly-odored fruit native to the region, as the city is seen as the Indonesian equivalent of the US city of New York. In the colonial era, the city was known as Koningin van het Oosten, initially in the 17th century for the urban beauty of downtown Batavias canals, mansions. After expanding to the south in the 19th century, this came to be more associated with the suburbs, with their wide lanes, many green spaces. The area in and around modern Jakarta was part of the fourth century Sundanese kingdom of Tarumanagara, following the decline of Tarumanagara, its territories, including the Jakarta area, became part of the Hindu Kingdom of Sunda. From 7th to early 13th century port of Sunda was within the sphere of influence of the Srivijaya maritime empire. According to the Chinese source, Chu-fan-chi, written circa 1225, Chou Ju-kua reported in the early 13th century Srivijaya still ruled Sumatra, the source reports the port of Sunda as strategic and thriving, pepper from Sunda being among the best in quality. The people worked in agriculture and their houses were built on wooden piles, the harbour area became known as Sunda Kelapa and by the fourteenth century, it was a major trading port for Sunda kingdom. The first European fleet, four Portuguese ships from Malacca, arrived in 1513 when the Portuguese were looking for a route for spices, in 1527, Fatahillah, a Javanese general from Demak attacked and conquered Sunda Kelapa, driving out the Portuguese. Sunda Kelapa was renamed Jayakarta, and became a fiefdom of the Sultanate of Banten which became a major Southeast Asia trading centre, through the relationship with Prince Jayawikarta from the Sultanate of Banten, Dutch ships arrived in Jayakarta in 1596. In 1602, the English East India Companys first voyage, commanded by Sir James Lancaster, arrived in Aceh and this site became the centre of English trade in Indonesia until 1682
2.
Indonesian rupiah
–
The rupiah is the official currency of Indonesia. Issued and controlled by the Bank of Indonesia, the ISO4217 currency code for the Indonesian rupiah is IDR, the name rupiah is derived from the Hindustani word rupiya, ultimately from Sanskrit rupya. Informally, Indonesians also use the word perak in referring to rupiah, the rupiah is subdivided into 100 sen, although inflation has rendered all coins and banknotes denominated in sen obsolete. The Riau islands and the Indonesian half of New Guinea had their own variants of the rupiah in the past, the current rupiah consists of coins from 100 rupiah up to 1000 rupiah and banknotes of 1000 rupiah up to 100,000 rupiah. With US$1 worth 13,300 rupiah, the largest Indonesian banknote is therefore worth approximately US$7.52, there are presently two series of coins in circulation, aluminium, bronze and nickel coins dated between 1991 and 2010. These come in denominations of 50,100,200,500, the older series of coins has been gradually disappearing. Currently circulating Indonesian banknotes date from 2000,2001,2004,2005,2009,2010, the 1998–1999 notes have not been legal tender since 31 January 2008. Earlier notes are no longer legal tender, due to the lack of security features and association with the Suharto regime. The government initially announced that this would change, with a 2, 000-rupiah note to replace the 1, 000-rupiah, following the issuance of Presidential Decree No. However, the material is abaca fibre, which is naturally plentiful in Indonesia and is believed to increase the durability of the banknotes. The banknotes are heat-processed to create a type of pulp. The minimum security features visible to the eye are watermarks, electrotypes. Extra features may be included, such as holograms, Irisafe, iridescent stripes, clear windows, metameric windows, watermark and electrotype are made by controlling the gap of density of the fibres which create certain images for the banknotes. This is done to raise the quality of the notes. Security threads are inserted into the note so that horizontal and vertical lines are shown from top to bottom, the threads can be varied in the materials, size, colour and design. Intaglio printing is used for the numbers in the banknote, to help blind people recognise genuine notes. The rupiah has been subject to high inflation for most of its existence, various attempts have been made to maintain the value of the currency, but all were abandoned. In the period from October 1946 to March 1950 Indonesian currency had no international recognition and its value was determined on the black market
3.
Fiscal year
–
A fiscal year is the period used by governments for accounting and budget purposes, which vary between countries. It is also used for reporting by business and other organizations. Taxation laws generally require accounting records to be maintained and taxes calculated on an annual basis, the calculation of tax on an annual basis is especially relevant for direct taxation, such as income tax. Many annual government fees—such as Council rates, licence fees, etc. —are also levied on a year basis. The fiscal year end is the date marks the end of the fiscal year. Some companies—such as Cisco Systems—end their fiscal year on the day of the week each year. Under such a system, some years will have 52 weeks. Many universities have a year which ends during the summer. In the northern hemisphere this is July to the next June, in the southern hemisphere this is calendar year, January to December. Some media/communication-based organizations use a broadcast calendar as the basis for their fiscal year, the American football league NFL uses the term league year, which in effect forms the leagues fiscal year. In Afghanistan, the year was recently changed from 1 Hamal –29 Hoot to 1 Jadi –30 Qaus. The fiscal year runs with the Afghan calendar, thus resulting in difference of the Gregorian dates once in a four-year span, in Australia, a fiscal year is commonly called a financial year and starts on 1 July and ends on the next 30 June. Financial years are designated by the year of the second half of the period. For example, financial year 2017 is the 12-month period ending on 30 June 2017 and it is used for official purposes, by individual taxpayers and by the overwhelming majority of business enterprises. Business enterprises may opt to use a year that ends at the end of a week. All entities within the one group must use the financial year. The Commonwealth adopted the near-ubiquitous financial year standard since its inception in 1901, the reason given for the change was for convenience, as Parliament typically sits during May and June, while it was difficult for it to meet in November and December to pass a budget. In Austria the fiscal year is the year,1 January to 31 December
4.
Asia-Pacific Economic Cooperation
–
Asia-Pacific Economic Cooperation is a forum for 21 Pacific Rim member economies that promotes free trade throughout the Asia-Pacific region. An annual APEC Economic Leaders Meeting is attended by the heads of government of all APEC members except Taiwan, in January 1989, Australian Prime Minister Bob Hawke called for more effective economic cooperation across the Pacific Rim region. This led to the first meeting of APEC in the Australian capital of Canberra in November, attended by ministers from twelve countries, the meeting concluded with commitments for future annual meetings in Singapore and Korea. This plan was opposed because of the countries in the America Region, and strongly criticized by Japan. He believed it would bring the stalled Uruguay Round of trade talks back on track. At the meeting, some called for continued reduction of barriers to trade and investment. The APEC Secretariat, based in Singapore, was established to coordinate the activities of the organization, in 1995, APEC established a business advisory body named the APEC Business Advisory Council, composed of three business executives from each member economy. In April 2001, the APEC, in collaboration with five other international organisations launched the Joint Oil Data Exercise, APEC currently has 21 members, including most countries with a coastline on the Pacific Ocean. However, the criterion for membership is that the member is a separate economy, as a result, APEC uses the term member economies rather than member countries to refer to its members. APEC also includes three official observers, ASEAN, the Pacific Islands Forum and the Pacific Economic Cooperation Council, India has requested membership in APEC, and received initial support from the United States, Japan, Australia and Papua New Guinea. Officials have decided not to allow India to join for various reasons, considering that India does not border the Pacific Ocean, however, India was invited to be an observer for the first time in November 2011. Bangladesh, Pakistan, Sri Lanka, Macau, Mongolia, Laos, Cambodia, Costa Rica, Colombia, Panama, and Ecuador, are among a dozen other economies that have applied for membership in APEC. Guam has also actively seeking a separate membership, citing the example of Hong Kong, but the request is opposed by the United States. Fiji might consider to join APEC sometime in the future, despite opposition from Australia, APEC has long been at the forefront of reform efforts in the area of business facilitation. Between 2002 and 2006 the costs of transactions across the region was reduced by 6%. Between 2007 and 2010, APEC hopes to achieve an additional 5% reduction in transaction costs. To this end, a new Trade Facilitation Action Plan has been endorsed, the APEC Business Travel Card, a travel document for visa-free business travel within the region is one of the concrete measures to facilitate business. In May 2010 Russia joined the scheme, thus completing the circle, APEC first formally started discussing the concept of a Free Trade Area of the Asia-Pacific at its summit in 2006 in Hanoi
5.
World Trade Organization
–
The World Trade Organization is an intergovernmental organization which regulates international trade. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade, most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round. The WTO is attempting to complete negotiations on the Doha Development Round, as of June 2012, the future of the Doha Round remained uncertain, the work programme lists 21 subjects in which the original deadline of 1 January 2005 was missed, and the round is still incomplete. This impasse has made it impossible to launch new WTO negotiations beyond the Doha Development Round, as a result, there have been an increasing number of bilateral free trade agreements between governments. As of July 2012, there were various groups in the WTO system for the current agricultural trade negotiation which is in the condition of stalemate. The WTOs current Director-General is Roberto Azevêdo, who leads a staff of over 600 people in Geneva, a trade facilitation agreement, part of the Bali Package of decisions, was agreed by all members on 7 December 2013, the first comprehensive agreement in the organizations history. Seven rounds of negotiations occurred under GATT, the first real GATT trade rounds concentrated on further reducing tariffs. Then, the Kennedy Round in the mid-sixties brought about a GATT anti-dumping Agreement, because these plurilateral agreements were not accepted by the full GATT membership, they were often informally called codes. Several of these codes were amended in the Uruguay Round, only four remained plurilateral, but in 1997 WTO members agreed to terminate the bovine meat and dairy agreements, leaving only two. Well before GATTs 40th anniversary, its members concluded that the GATT system was straining to adapt to a new globalizing world economy. In response to the problems identified in the 1982 Ministerial Declaration, the GATT still exists as the WTOs umbrella treaty for trade in goods, updated as a result of the Uruguay Round negotiations. GATT1994 is not however the only legally binding agreement included via the Final Act at Marrakesh, the highest decision-making body of the WTO is the Ministerial Conference, which usually meets every two years. It brings together all members of the WTO, all of which are countries or customs unions, the Ministerial Conference can take decisions on all matters under any of the multilateral trade agreements. When agricultural export subsidies were agreed to be phased out and adoption of the European Unions Everything, the WTO launched the current round of negotiations, the Doha Development Round, at the fourth ministerial conference in Doha, Qatar in November 2001. This was to be an effort to make globalization more inclusive and help the worlds poor, particularly by slashing barriers. The initial agenda comprised both further trade liberalization and new rule-making, underpinned by commitments to strengthen substantial assistance to developing countries. Among the various functions of the WTO, these are regarded by analysts as the most important and it provides a forum for negotiations and for settling disputes. Another priority of the WTO is the assistance of developing, least-developed and low-income countries in transition to adjust to WTO rules and disciplines through technical cooperation and training
6.
G-20 major economies
–
The G20 is an international forum for the governments and central bank governors from 20 major economies. It was founded in 1999 with the aim of studying, reviewing and it seeks to address issues that go beyond the responsibilities of any one organization. The EU is represented by the European Commission and by the European Central Bank, collectively, the G20 economies account for around 85% of the gross world product, 80% of world trade, and two-thirds of the world population. Since its inception, the G20s membership policies have been criticized by numerous intellectuals, the heads of the G20 nations met semi-annually at G20 summits between 2009 and 2010. Since the November 2011 Cannes summit, all G20 summits have been held annually, the G20 superseded the G33, and was foreshadowed at the Cologne Summit of the G7 in June 1999, but was only formally established at the G7 Finance Ministers meeting on 26 September 1999. The inaugural meeting took place on 15–16 December 1999 in Berlin, Canadian finance minister Paul Martin was chosen to be the first chairman and German finance minister Hans Eichel hosted the inaugural meeting. According to researchers at the Brookings Institution, the group was founded primarily at the initiative of Eichel, however, some sources identify the G20 as a joint creation of Germany and the United States. Though the G20s primary focus is global economic governance, the themes of its summits vary from year to year, for example, the theme of the 2006 G20 ministerial meeting was Building and Sustaining Prosperity. Trevor A. Manuel, the South African Minister of Finance, was the chairperson of the G20 when South Africa hosted the secretariat in 2007, Spain and the Netherlands were included in the summit by French invitation. Despite lacking any formal ability to enforce rules, the G20s prominent membership gives it a strong input on global policy, however, there remain disputes over the legitimacy of the G20, and criticisms of its organisation and the efficacy of its declarations. After the 2008 debut summit in Washington, D. C, G20 leaders met twice a year in London and Pittsburgh in 2009, Toronto and Seoul in 2010. Since 2011, when France chaired and hosted the G20, the summits have been held once a year. The summit in 2016 was held in China and the in 2017 in Baden-Baden, a number of other ministerial-level G20 meetings have been held since 2010. In March 2014, Australian Foreign Minister Julie Bishop, as host of the 2014 G20 summit in Brisbane, Germany will be hosting the 2017 summit, while Argentina will be the host in 2018. To decide which member nation gets to chair the G20 leaders meeting for a given year, each group holds a maximum of four nations. This system has been in place since 2010, when South Korea, the table below lists the nations groupings, The G20 operates without a permanent secretariat or staff. The groups chair rotates annually among the members and is selected from a different regional grouping of countries, the chair is part of a revolving three-member management group of past, present and future chairs, referred to as the Troika. The incumbent chair establishes a temporary secretariat for the duration of its term, the role of the Troika is to ensure continuity in the G20s work and management across host years
7.
Regional Comprehensive Economic Partnership
–
RCEP negotiations were formally launched in November 2012 at the ASEAN Summit in Cambodia. The agreement is scheduled to be finalized by the end of 2017, RCEP is viewed as an alternative to the Trans-Pacific Partnership, a proposed trade agreement which includes several Asian and American nations but excludes China and India. In 2016, prospective RCEP member states accounted for a population of 3.4 billion people with a total Gross Domestic Product of $21.4 trillion, approximately 30 percent of the worlds GDP. RCEP potentially includes more than 3 billion people or 45% of the population. The combined GDP of potential RCEP members surpassed the combined GDP of Trans-Pacific Partnership members in 2007, continued growth, particularly in China, India and Indonesia could see total GDP in RCEP grow to over $100 trillion by 2050, roughly double the project size of TPP economies. On January 23,2017, US President Trump signed a memorandum that stated withdrawal of the US from the TPP, the key points of this document are as follows. RCEP will cover trade in goods, trade in services, investment, economic and technical co-operation, intellectual property, competition, dispute settlement, negotiations should aim to achieve the high level of tariff liberalisation, through building upon the existing liberalisation levels between participating countries. The RCEP will be comprehensive, of high-quality and consistent with WTO rules, negotiations will cover the four pillars of promotion, protection, facilitation and liberalisation. Participants will be ASEAN members and FTA Partners, after the completion of the negotiations, countries other than the 16 states may join. During the 19th ASEAN Summit in November 2011, the Regional Comprehensive Economic Partnership was introduced, leaders at the 21st ASEAN Summit in November 2012 in Phnom Penh, Cambodia endorsed the framework of RCEP and announced the launch of their negotiations. The second round of RCEP negotiations were going well during 23–27 September 2013 in Australia, delegations primarily focused on trade in goods, trade in services and investment. They also engaged on economic and technical co-operation, competition, intellectual property, dispute settlement and other issues, in line with the RCEP Guiding Principles. On Trade in services, participating countries discussed the structure and elements of the RCEP Services Chapter, areas of market access interests, on Investment, participating countries exchanged views on investment modalities and deliberated further on the elements for the RCEP Investment Chapter. Two Seminars were held at the sidelines of negotiations round, malaysia and Japan organised a Seminar on Intellectual Property, discussing a broad range of issues in IP and how IP may support trade and investment further. Australia organised a seminar on the cross cutting areas of Services, the participating countries had a good discussion on the issues. Round 4 The 4th round of RCEP negotiations took place in Nanning, the participating countries continued intensive discussion on a range of issues to advance the negotiations. On Investment, participating countries engaged in discussions on text, at the Nanning meeting, the new working groups on Intellectual Property, Competition, and Economic and Technical Cooperation commenced their work. Other issues of particular interest to a number of RCEP participating countries were discussed, experts met to discuss Dispute Settlement and broader legal and institutional issues
8.
Gross domestic product
–
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
9.
List of countries by GDP (Nominal)
–
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
10.
List of countries by GDP (PPP)
–
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
11.
Inflation
–
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
12.
Consumer price index
–
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%
13.
Poverty threshold
–
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
14.
Gini coefficient
–
The Gini coefficient is a measure of statistical dispersion intended to represent the income or wealth distribution of a nations residents, and is the most commonly used measure of inequality. It was developed by the Italian statistician and sociologist Corrado Gini, the Gini coefficient measures the inequality among values of a frequency distribution. A Gini coefficient of zero expresses perfect equality, where all values are the same, a Gini coefficient of 1 expresses maximal inequality among values. However, a greater than one may occur if some persons represent negative contribution to the total. For larger groups, values close to or above 1 are very unlikely in practice, the exception to this is in the redistribution of wealth resulting in a minimum income for all people. When the population is sorted, if their distribution were to approximate a well known function. The Gini coefficient was proposed by Gini as a measure of inequality of income or wealth, the global income Gini coefficient in 2005 has been estimated to be between 0.61 and 0.68 by various sources. There are some issues in interpreting a Gini coefficient, the same value may result from many different distribution curves. The demographic structure should be taken into account, Countries with an aging population, or with a baby boom, experience an increasing pre-tax Gini coefficient even if real income distribution for working adults remains constant. Scholars have devised over a dozen variants of the Gini coefficient, the line at 45 degrees thus represents perfect equality of incomes. The Gini coefficient can then be thought of as the ratio of the area lies between the line of equality and the Lorenz curve over the total area under the line of equality. It is also equal to 2A and to 1 - 2B due to the fact that A + B =0.5. If all people have non-negative income, the Gini coefficient can theoretically range from 0 to 1, in practice, both extreme values are not quite reached. If negative values are possible, then the Gini coefficient could theoretically be more than 1, normally the mean is assumed positive, which rules out a Gini coefficient less than zero. An alternative approach would be to consider the Gini coefficient as half of the mean absolute difference. The effects of income policy due to redistribution can be seen in the linear relationships. An informative simplified case just distinguishes two levels of income, low and high, if the high income group is u % of the population and earns a fraction f % of all income, then the Gini coefficient is f − u. An actual more graded distribution with these same values u and f will always have a higher Gini coefficient than f − u, the proverbial case where the richest 20% have 80% of all income would lead to an income Gini coefficient of at least 60%
15.
Japan
–
Japan is a sovereign island nation in Eastern Asia. Located in the Pacific Ocean, it lies off the eastern coast of the Asia Mainland and stretches from the Sea of Okhotsk in the north to the East China Sea, the kanji that make up Japans name mean sun origin. 日 can be read as ni and means sun while 本 can be read as hon, or pon, Japan is often referred to by the famous epithet Land of the Rising Sun in reference to its Japanese name. Japan is an archipelago consisting of about 6,852 islands. The four largest are Honshu, Hokkaido, Kyushu and Shikoku, the country is divided into 47 prefectures in eight regions. Hokkaido being the northernmost prefecture and Okinawa being the southernmost one, the population of 127 million is the worlds tenth largest. Japanese people make up 98. 5% of Japans total population, approximately 9.1 million people live in the city of Tokyo, the capital of Japan. Archaeological research indicates that Japan was inhabited as early as the Upper Paleolithic period, the first written mention of Japan is in Chinese history texts from the 1st century AD. Influence from other regions, mainly China, followed by periods of isolation, from the 12th century until 1868, Japan was ruled by successive feudal military shoguns who ruled in the name of the Emperor. Japan entered into a period of isolation in the early 17th century. The Second Sino-Japanese War of 1937 expanded into part of World War II in 1941, which came to an end in 1945 following the bombings of Hiroshima and Nagasaki. Japan is a member of the UN, the OECD, the G7, the G8, the country has the worlds third-largest economy by nominal GDP and the worlds fourth-largest economy by purchasing power parity. It is also the worlds fourth-largest exporter and fourth-largest importer, although Japan has officially renounced its right to declare war, it maintains a modern military with the worlds eighth-largest military budget, used for self-defense and peacekeeping roles. Japan is a country with a very high standard of living. Its population enjoys the highest life expectancy and the third lowest infant mortality rate in the world, in ancient China, Japan was called Wo 倭. It was mentioned in the third century Chinese historical text Records of the Three Kingdoms in the section for the Wei kingdom, Wa became disliked because it has the connotation of the character 矮, meaning dwarf. The 倭 kanji has been replaced with the homophone Wa, meaning harmony, the Japanese word for Japan is 日本, which is pronounced Nippon or Nihon and literally means the origin of the sun. The earliest record of the name Nihon appears in the Chinese historical records of the Tang dynasty, at the start of the seventh century, a delegation from Japan introduced their country as Nihon
16.
United States
–
Forty-eight of the fifty states and the federal district are contiguous and located in North America between Canada and Mexico. The state of Alaska is in the northwest corner of North America, bordered by Canada to the east, the state of Hawaii is an archipelago in the mid-Pacific Ocean. The U. S. territories are scattered about the Pacific Ocean, the geography, climate and wildlife of the country are extremely diverse. At 3.8 million square miles and with over 324 million people, the United States is the worlds third- or fourth-largest country by area, third-largest by land area. It is one of the worlds most ethnically diverse and multicultural nations, paleo-Indians migrated from Asia to the North American mainland at least 15,000 years ago. European colonization began in the 16th century, the United States emerged from 13 British colonies along the East Coast. Numerous disputes between Great Britain and the following the Seven Years War led to the American Revolution. On July 4,1776, during the course of the American Revolutionary War, the war ended in 1783 with recognition of the independence of the United States by Great Britain, representing the first successful war of independence against a European power. The current constitution was adopted in 1788, after the Articles of Confederation, the first ten amendments, collectively named the Bill of Rights, were ratified in 1791 and designed to guarantee many fundamental civil liberties. During the second half of the 19th century, the American Civil War led to the end of slavery in the country. By the end of century, the United States extended into the Pacific Ocean. The Spanish–American War and World War I confirmed the status as a global military power. The end of the Cold War and the dissolution of the Soviet Union in 1991 left the United States as the sole superpower. The U. S. is a member of the United Nations, World Bank, International Monetary Fund, Organization of American States. The United States is a developed country, with the worlds largest economy by nominal GDP. It ranks highly in several measures of performance, including average wage, human development, per capita GDP. While the U. S. economy is considered post-industrial, characterized by the dominance of services and knowledge economy, the United States is a prominent political and cultural force internationally, and a leader in scientific research and technological innovations. In 1507, the German cartographer Martin Waldseemüller produced a map on which he named the lands of the Western Hemisphere America after the Italian explorer and cartographer Amerigo Vespucci
17.
China
–
China, officially the Peoples Republic of China, is a unitary sovereign state in East Asia and the worlds most populous country, with a population of over 1.381 billion. The state is governed by the Communist Party of China and its capital is Beijing, the countrys major urban areas include Shanghai, Guangzhou, Beijing, Chongqing, Shenzhen, Tianjin and Hong Kong. China is a power and a major regional power within Asia. Chinas landscape is vast and diverse, ranging from forest steppes, the Himalaya, Karakoram, Pamir and Tian Shan mountain ranges separate China from much of South and Central Asia. The Yangtze and Yellow Rivers, the third and sixth longest in the world, respectively, Chinas coastline along the Pacific Ocean is 14,500 kilometers long and is bounded by the Bohai, Yellow, East China and South China seas. China emerged as one of the worlds earliest civilizations in the basin of the Yellow River in the North China Plain. For millennia, Chinas political system was based on hereditary monarchies known as dynasties, in 1912, the Republic of China replaced the last dynasty and ruled the Chinese mainland until 1949, when it was defeated by the communist Peoples Liberation Army in the Chinese Civil War. The Communist Party established the Peoples Republic of China in Beijing on 1 October 1949, both the ROC and PRC continue to claim to be the legitimate government of all China, though the latter has more recognition in the world and controls more territory. China had the largest economy in the world for much of the last two years, during which it has seen cycles of prosperity and decline. Since the introduction of reforms in 1978, China has become one of the worlds fastest-growing major economies. As of 2016, it is the worlds second-largest economy by nominal GDP, China is also the worlds largest exporter and second-largest importer of goods. China is a nuclear weapons state and has the worlds largest standing army. The PRC is a member of the United Nations, as it replaced the ROC as a permanent member of the U. N. Security Council in 1971. China is also a member of numerous formal and informal multilateral organizations, including the WTO, APEC, BRICS, the Shanghai Cooperation Organization, the BCIM, the English name China is first attested in Richard Edens 1555 translation of the 1516 journal of the Portuguese explorer Duarte Barbosa. The demonym, that is, the name for the people, Portuguese China is thought to derive from Persian Chīn, and perhaps ultimately from Sanskrit Cīna. Cīna was first used in early Hindu scripture, including the Mahābhārata, there are, however, other suggestions for the derivation of China. The official name of the state is the Peoples Republic of China. The shorter form is China Zhōngguó, from zhōng and guó and it was then applied to the area around Luoyi during the Eastern Zhou and then to Chinas Central Plain before being used as an occasional synonym for the state under the Qing
18.
Singapore
–
Singapore, officially the Republic of Singapore, sometimes referred to as the Lion City or the Little Red Dot, is a sovereign city-state in Southeast Asia. It lies one degree north of the equator, at the tip of peninsular Malaysia. Singapores territory consists of one island along with 62 other islets. Since independence, extensive land reclamation has increased its size by 23%. During the Second World War, Singapore was occupied by Japan, after early years of turbulence, and despite lacking natural resources and a hinterland, the nation developed rapidly as an Asian Tiger economy, based on external trade and its workforce. Singapore is a global commerce, finance and transport hub, the country has also been identified as a tax haven. Singapore ranks 5th internationally and first in Asia on the UN Human Development Index and it is ranked highly in education, healthcare, life expectancy, quality of life, personal safety, and housing, but does not fare well on the Democracy index. Although income inequality is high, 90% of homes are owner-occupied, 38% of Singapores 5.6 million residents are permanent residents and other foreign nationals. There are four languages on the island, Malay, Mandarin, Tamil. English is its language, most Singaporeans are bilingual. Singapore is a multiparty parliamentary republic, with a Westminster system of unicameral parliamentary government. The Peoples Action Party has won every election since self-government in 1959, however, it is unlikely that lions ever lived on the island, Sang Nila Utama, the Srivijayan prince said to have founded and named the island Singapura, perhaps saw a Malayan tiger. There are however other suggestions for the origin of the name, the central island has also been called Pulau Ujong as far back as the third century CE, literally island at the end in Malay. In 1299, according to the Malay Annals, the Kingdom of Singapura was founded on the island by Sang Nila Utama and these Indianized Kingdoms, a term coined by George Cœdès were characterized by surprising resilience, political integrity and administrative stability. In 1613, Portuguese raiders burned down the settlement, which by then was part of the Johor Sultanate. The wider maritime region and much trade was under Dutch control for the following period, in 1824 the entire island, as well as the Temenggong, became a British possession after a further treaty with the Sultan. In 1826, Singapore became part of the Straits Settlements, under the jurisdiction of British India, prior to Raffles arrival, there were only about a thousand people living on the island, mostly indigenous Malays along with a handful of Chinese. By 1860 the population had swelled to over 80,000, many of these early immigrants came to work on the pepper and gambier plantations
19.
India
–
India, officially the Republic of India, is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and it is bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, and the Bay of Bengal on the southeast. It shares land borders with Pakistan to the west, China, Nepal, and Bhutan to the northeast, in the Indian Ocean, India is in the vicinity of Sri Lanka and the Maldives. Indias Andaman and Nicobar Islands share a border with Thailand. The Indian subcontinent was home to the urban Indus Valley Civilisation of the 3rd millennium BCE, in the following millennium, the oldest scriptures associated with Hinduism began to be composed. Social stratification, based on caste, emerged in the first millennium BCE, early political consolidations took place under the Maurya and Gupta empires, the later peninsular Middle Kingdoms influenced cultures as far as southeast Asia. In the medieval era, Judaism, Zoroastrianism, Christianity, and Islam arrived, much of the north fell to the Delhi sultanate, the south was united under the Vijayanagara Empire. The economy expanded in the 17th century in the Mughal empire, in the mid-18th century, the subcontinent came under British East India Company rule, and in the mid-19th under British crown rule. A nationalist movement emerged in the late 19th century, which later, under Mahatma Gandhi, was noted for nonviolent resistance, in 2015, the Indian economy was the worlds seventh largest by nominal GDP and third largest by purchasing power parity. Following market-based economic reforms in 1991, India became one of the major economies and is considered a newly industrialised country. However, it continues to face the challenges of poverty, corruption, malnutrition, a nuclear weapons state and regional power, it has the third largest standing army in the world and ranks sixth in military expenditure among nations. India is a constitutional republic governed under a parliamentary system. It is a pluralistic, multilingual and multi-ethnic society and is home to a diversity of wildlife in a variety of protected habitats. The name India is derived from Indus, which originates from the Old Persian word Hindu, the latter term stems from the Sanskrit word Sindhu, which was the historical local appellation for the Indus River. The ancient Greeks referred to the Indians as Indoi, which translates as The people of the Indus, the geographical term Bharat, which is recognised by the Constitution of India as an official name for the country, is used by many Indian languages in its variations. Scholars believe it to be named after the Vedic tribe of Bharatas in the second millennium B. C. E and it is also traditionally associated with the rule of the legendary emperor Bharata. Gaṇarājya is the Sanskrit/Hindi term for republic dating back to the ancient times, hindustan is a Persian name for India dating back to the 3rd century B. C. E. It was introduced into India by the Mughals and widely used since then and its meaning varied, referring to a region that encompassed northern India and Pakistan or India in its entirety
20.
South Korea
–
South Korea, officially the Republic of Korea, is a sovereign state in East Asia, constituting the southern part of the Korean Peninsula. The earliest Korean pottery dates to 8000 BC, with three kingdoms flourishing in the 1st century BC and its rich and vibrant culture left 19 UNESCO Intangible Cultural Heritages of Humanity, the third largest in the world, along with 12 World Heritage Sites. Annexed into Imperial Japan in 1910, Korea was divided after its surrender in 1945, peace has since mostly continued with the two agreeing to work peacefully for reunification and the South solidifying peace as a regional power with the worlds 10th largest defence budget. South Koreas tiger economy soared at an average of 10% for over 30 years in a period of rapid transformation called the Miracle on the Han River. A long legacy of openness and focus on innovation made it successful, today, it is the worlds fifth largest exporter with the G20s largest budget surplus and highest credit rating of any country in East Asia. It has free trade agreements with 75% of the economy and is the only G20 nation trading freely with China, the US. Since 1988, its constitution guarantees a liberal democracy with high government transparency, high personal freedoms led to the rise of a globally influential pop culture such as K-pop and K-drama, a phenomenon called the Korean Wave, known for its distinctive fashionable and trendy style. Home of the UN Green Climate Fund and GGGI, South Korea is a leader in low carbon growth, committed to helping developing countries as a major DAC. It is the third least ignorant country in the Index of Ignorance, ranking eighth highest for peaceful tolerance. It is the worlds largest spender on R&D per GDP, leading the OECD in graduates in science, the name Korea derives from the name Goryeo. The name Goryeo itself was first used by the ancient kingdom of Goguryeo in the 5th century as a form of its name. The 10th-century kingdom of Goryeo succeeded Goguryeo, and thus inherited its name, the modern spelling of Korea first appeared in the late 17th century in the travel writings of the Dutch East India Companys Hendrick Hamel. After Goryeo was replaced by Joseon in 1392, Joseon became the name for the entire territory. The new official name has its origin in the ancient country of Gojoseon, in 1897, the Joseon dynasty changed the official name of the country from Joseon to Daehan Jeguk. The name Daehan, which means great Han literally, derives from Samhan, however, the name Joseon was still widely used by Koreans to refer to their country, though it was no longer the official name. Under Japanese rule, the two names Han and Joseon coexisted, there were several groups who fought for independence, the most notable being the Provisional Government of the Republic of Korea. Following the surrender of Japan, in 1945, the Republic of Korea was adopted as the name for the new country. Since the government only controlled the part of the Korean Peninsula
21.
Malaysia
–
Malaysia is a federal constitutional monarchy located in Southeast Asia. Peninsular Malaysia shares a land and maritime border with Thailand and maritime borders with Singapore, Vietnam, East Malaysia shares land and maritime borders with Brunei and Indonesia and a maritime border with the Philippines and Vietnam. The capital city is Kuala Lumpur, while Putrajaya is the seat of the federal government, with a population of over 30 million, Malaysia is the 44th most populous country. The southernmost point of continental Eurasia, Tanjung Piai, is in Malaysia, located in the tropics, Malaysia is one of 17 megadiverse countries on earth, with large numbers of endemic species. Malaysia has its origins in the Malay kingdoms present in the area which, from the 18th century, the first British territories were known as the Straits Settlements, whose establishment was followed by the Malay kingdoms becoming British protectorates. The territories on Peninsular Malaysia were first unified as the Malayan Union in 1946, Malaya was restructured as the Federation of Malaya in 1948, and achieved independence on 31 August 1957. Malaya united with North Borneo, Sarawak, and Singapore on 16 September 1963 to become Malaysia, less than two years later in 1965, Singapore was expelled from the federation. The country is multi-ethnic and multi-cultural, which plays a role in politics. About half the population is ethnically Malay, with minorities of Malaysian Chinese, Malaysian Indians. The constitution declares Islam the state religion while allowing freedom of religion for non-Muslims, the government system is closely modelled on the Westminster parliamentary system and the legal system is based on common law. The head of state is the king, known as the Yang di-Pertuan Agong and he is an elected monarch chosen from the hereditary rulers of the nine Malay states every five years. The head of government is the prime minister, since its independence, Malaysia has had one of the best economic records in Asia, with its GDP growing at an average of 6. 5% per annum for almost 50 years. The economy has traditionally been fuelled by its resources, but is expanding in the sectors of science, tourism, commerce. Today, Malaysia has a newly industrialised market economy, ranked third largest in Southeast Asia, the name Malaysia is a combination of the word Malay and the Latin-Greek suffix -sia/-σία. The word melayu in Malay may derive from the Tamil words malai and ur meaning mountain and city, land, malayadvipa was the word used by ancient Indian traders when referring to the Malay Peninsula. Whether or not it originated from these roots, the word melayu or mlayu may have used in early Malay/Javanese to mean to steadily accelerate or run. This term was applied to describe the current of the river Melayu in Sumatra. The name was adopted by the Melayu Kingdom that existed in the seventh century on Sumatra
22.
Chemicals
–
A chemical substance is a form of matter that has constant chemical composition and characteristic properties. It cannot be separated into components by physical methods, i. e. without breaking chemical bonds. Chemical substances can be chemical elements, chemical compounds, ions or alloys, Chemical substances are often called pure to set them apart from mixtures. A common example of a substance is pure water, it has the same properties. Other chemical substances commonly encountered in pure form are diamond, gold, table salt, however, in practice, no substance is entirely pure, and chemical purity is specified according to the intended use of the chemical. Chemical substances exist as solids, liquids, gases, or plasma, Chemical substances may be combined or converted to others by means of chemical reactions. Forms of energy, such as light and heat, are not matter, a chemical substance may well be defined as any material with a definite chemical composition in an introductory general chemistry textbook. According to this definition a chemical substance can either be a chemical element or a pure chemical compound. But, there are exceptions to this definition, a substance can also be defined as a form of matter that has both definite composition and distinct properties. The chemical substance index published by CAS also includes several alloys of uncertain composition, in geology, substances of uniform composition are called minerals, while physical mixtures of several minerals are defined as rocks. Many minerals, however, mutually dissolve into solid solutions, such that a rock is a uniform substance despite being a mixture in stoichiometric terms. Feldspars are an example, anorthoclase is an alkali aluminium silicate. In law, chemical substances may include both pure substances and mixtures with a composition or manufacturing process. For example, the EU regulation REACH defines monoconstituent substances, multiconstituent substances and substances of unknown or variable composition, the latter two consist of multiple chemical substances, however, their identity can be established either by direct chemical analysis or reference to a single manufacturing process. For example, charcoal is a complex, partially polymeric mixture that can be defined by its manufacturing process. Therefore, although the chemical identity is unknown, identification can be made to a sufficient accuracy. The CAS index also includes mixtures, polymers almost always appear as mixtures of molecules of multiple molar masses, each of which could be considered a separate chemical substance. However, the polymer may be defined by a precursor or reaction
23.
Fuels
–
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
24.
Foodstuff
–
Food is any substance consumed to provide nutritional support for an organism. It is usually of plant or animal origin, and contains essential nutrients, such as carbohydrates, fats, proteins, vitamins, the substance is ingested by an organism and assimilated by the organisms cells to provide energy, maintain life, or stimulate growth. Historically, humans secured food through two methods, hunting and gathering and agriculture, today, the majority of the food energy required by the ever increasing population of the world is supplied by the food industry. They address issues such as sustainability, biological diversity, climate change, nutritional economics, population growth, water supply, most food has its origin in plants. Some food is obtained directly from plants, but even animals that are used as sources are raised by feeding them food derived from plants. Cereal grain is a food that provides more food energy worldwide than any other type of crop. Corn, wheat, and rice – in all of their varieties – account for 87% of all grain production worldwide, most of the grain that is produced worldwide is fed to livestock. Some foods not from animal or plant sources include various edible fungi, fungi and ambient bacteria are used in the preparation of fermented and pickled foods like leavened bread, alcoholic drinks, cheese, pickles, kombucha, and yogurt. Another example is blue-green algae such as Spirulina, inorganic substances such as salt, baking soda and cream of tartar are used to preserve or chemically alter an ingredient. Many plants and plant parts are eaten as food and around 2,000 plant species are cultivated for food, many of these plant species have several distinct cultivars. Seeds of plants are a source of food for animals, including humans, because they contain the nutrients necessary for the plants initial growth, including many healthful fats. In fact, the majority of food consumed by human beings are seed-based foods, edible seeds include cereals, legumes, and nuts. Oilseeds are often pressed to produce rich oils - sunflower, flaxseed, rapeseed, sesame, seeds are typically high in unsaturated fats and, in moderation, are considered a health food, although not all seeds are edible. Large seeds, such as those from a lemon, pose a choking hazard, fruits are the ripened ovaries of plants, including the seeds within. Many plants and animals have coevolved such that the fruits of the former are a food source to the latter. Fruits, therefore, make up a significant part of the diets of most cultures, some botanical fruits, such as tomatoes, pumpkins, and eggplants, are eaten as vegetables. Vegetables are a type of plant matter that is commonly eaten as food. These include root vegetables, bulbs, leaf vegetables, stem vegetables, animals are used as food either directly or indirectly by the products they produce
25.
Thailand
–
Thailand, officially the Kingdom of Thailand, formerly known as Siam, is a country at the centre of the Indochinese peninsula in Southeast Asia. With a total area of approximately 513,000 km2, Thailand is the worlds 51st-largest country and it is the 20th-most-populous country in the world, with around 66 million people. The capital and largest city is Bangkok, Thailand is a constitutional monarchy and has switched between parliamentary democracy and military junta for decades, the latest coup being in May 2014 by the National Council for Peace and Order. Its capital and most populous city is Bangkok and its maritime boundaries include Vietnam in the Gulf of Thailand to the southeast, and Indonesia and India on the Andaman Sea to the southwest. The Thai economy is the worlds 20th largest by GDP at PPP and it became a newly industrialised country and a major exporter in the 1990s. Manufacturing, agriculture, and tourism are leading sectors of the economy and it is considered a middle power in the region and around the world. The country has always been called Mueang Thai by its citizens, by outsiders prior to 1949, it was usually known by the exonym Siam. The word Siam has been identified with the Sanskrit Śyāma, the names Shan and A-hom seem to be variants of the same word. The word Śyâma is possibly not its origin, but a learned, another theory is the name derives from Chinese, Ayutthaya emerged as a dominant centre in the late fourteenth century. The Chinese called this region Xian, which the Portuguese converted into Siam, the signature of King Mongkut reads SPPM Mongkut King of the Siamese, giving the name Siam official status until 24 June 1939 when it was changed to Thailand. Thailand was renamed Siam from 1945 to 11 May 1949, after which it reverted to Thailand. According to George Cœdès, the word Thai means free man in the Thai language, ratcha Anachak Thai means kingdom of Thailand or kingdom of Thai. Etymologically, its components are, ratcha, -ana- -chak, the Thai National Anthem, written by Luang Saranupraphan during the extremely patriotic 1930s, refers to the Thai nation as, prathet Thai. The first line of the anthem is, prathet thai ruam lueat nuea chat chuea thai, Thailand is the unity of Thai flesh. There is evidence of habitation in Thailand that has been dated at 40,000 years before the present. Similar to other regions in Southeast Asia, Thailand was heavily influenced by the culture and religions of India, Thailand in its earliest days was under the rule of the Khmer Empire, which had strong Hindu roots, and the influence among Thais remains even today. Voretzsch believes that Buddhism must have been flowing into Siam from India in the time of the Indian Emperor Ashoka of the Maurya Empire, later Thailand was influenced by the south Indian Pallava dynasty and north Indian Gupta Empire. The Menam Basin was originally populated by the Mons, and the location of Dvaravati in the 7th century, the History of the Yuan mentions an embassy from the kingdom of Sukhothai in 1282
26.
Foreign direct investment
–
A foreign direct investment is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from foreign investment by a notion of direct control. Broadly, foreign direct investment includes mergers and acquisitions, building new facilities, reinvesting profits earned from overseas operations and intra company loans. In a narrow sense, foreign direct investment refers just to building new facility, FDI is the sum of equity capital, other long-term capital, and short-term capital as shown the balance of payments. FDI usually involves participation in management, joint-venture, transfer of technology, stock of FDI is the net cumulative FDI for any given period. Direct investment excludes investment through purchase of shares, FDI is one example of international factor movements. A foreign direct investment is an ownership in a business enterprise in one country by an entity based in another country. Foreign direct investment is distinguished from foreign investment, a passive investment in the securities of another country such as public stocks and bonds. Moreover, control of technology, management, even crucial inputs can confer de facto control, for example, Joe S. Bain only explained the internationalization challenge through three main principles, absolute cost advantages, product differentiation advantages and economies of scale. Furthermore, the theories were created under the assumption of the existence of perfect competition. Facing the challenges of his predecessors, Hymer focused his theory on filling the gaps regarding international investment, the theory proposed by the author approaches international investment from a different and more firm-specific point of view. Furthermore, Hymer proceeds to criticize the neoclassical theories, stating that the theory of capital movements cannot explain international production. Moreover, he clarifies that FDI is not necessarily a movement of funds from a country to a host country. In contrast, if interest rates were the motive for international investment. Another observation made by Hymer went against what was maintained by the neoclassical theories, in fact, foreign direct investment can be financed through loans obtained in the host country, payments in exchange for equity, and other methods. Further studies attempted to explain how firms could monetize these advantages in the form of licenses, removal of conflicts, conflict arises if a firm is already operating in foreign market or looking to expand its operations within the same market. He proposes that the solution for this hurdle arose in the form of collusion, however, it must be taken into account that a reduction in conflict through acquisition of control of operations will increase the market imperfections. The extent to which a company can mitigate risk depends on how well a firm can formulate an internationalization strategy taking these levels of decision into account
27.
External debt
–
External debt is the total debt a country owes to foreign creditors, complemented by internal debt owed to domestic lenders. The debtors can be the government, corporations or citizens of that country, the debt includes money owed to private commercial banks, other governments, or international financial institutions such as the International Monetary Fund and World Bank. Note that the use of gross liability figures greatly distorts the ratio for countries which contain major money centers such as the United Kingdom due to Londons role as a financial capital, contrast with net international investment position. In this definition, the IMF defines the key elements as follows, Outstanding, principal and interest When the cost of borrowing is paid periodically, as commonly occurs, it is known as an interest payment. All other payments of economic value by the debtor to the creditor that reduce the amount outstanding are known as principal payments. However, the definition of external debt does not distinguish between principal payments or interest payments, or payments for both, also, the definition does not specify that the timing of the future payments of principal and/or interest need be known for a liability to be classified as debt. Residence To qualify as external debt, the debt liabilities must be owed by a resident to a nonresident, residence is determined by where the debtor and creditor have their centers of economic interest—typically, where they are ordinarily located—and not by their nationality. Current and not contingent Contingent liabilities are not included in the definition of external debt and these are defined as arrangements under which one or more conditions must be fulfilled before a financial transaction takes place. Generally, external debt is classified into four heads, public and publicly guaranteed debt, private non-guaranteed credits, central bank deposits, however, the exact treatment varies from country to country. External-debt-sustainability analysis is conducted in the context of medium-term scenarios. In these analysis, macroeconomic uncertainties, such as the outlook for the current account, high external debt is believed to be harmful for the economy. There are various indicators for determining a sustainable level of external debt, while each has its own advantage and peculiarity to deal with particular situations, there is no unanimous opinion amongst economists as to a sole indicator. These indicators are primarily in the nature of ratios—i. e, comparison between two heads and the relation thereon and thus facilitate the policy makers in their external debt management exercise. Examples of debt burden indicators include the Debt-to-GDP ratio, foreign debt to exports ratio and this set of indicators also covers the structure of the outstanding debt, including, Share of foreign debt, Short-term debt, and Concessional debt in the total debt stock. A second set of indicators focuses on the short-term liquidity requirements of the country with respect to its service obligations. These indicators are not only useful early-warning signs of service problems. The dynamic ratios show how the debt-burden ratios would change in the absence of repayments or new disbursements, an example of a dynamic ratio is the ratio of the average interest rate on outstanding debt to the growth rate of nominal GDP
28.
List of countries by public debt
–
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
29.
List of countries by credit rating
–
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
30.
Standard & Poor's
–
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
31.
Fitch Group
–
Fitch Ratings Inc. is one of the Big Three credit rating agencies, the other two being Moodys and Standard & Poors. It is one of the three nationally recognized statistical rating organizations designated by the U. S. Securities and Exchange Commission in 1975, Fitch Ratings is dual-headquartered in New York, USA, and London, UK. Hearst owns 80% of the company following its acquisition of an additional 30 percent interest in global ratings agency Fitch Group on December 12,2014, the transaction was valued at $1.965 billion. Hearst’s previous equity interest was 50% following expansions on an acquisition on 2006. The remaining 20% of Fitch is owned by FIMALAC SA, fimalac will hold 50% of votes within that Board until 2020. Fitch Ratings and Fitch Solutions are part of the Fitch Group, the firm was founded by John Knowles Fitch on December 24,1914 in New York City as the Fitch Publishing Company. It merged with London-based IBCA Limited in December 1997, in 2000 Fitch acquired both Chicago-based Duff & Phelps Credit Rating Co. and Thomson Financial BankWatch. In September 2011, Fitch Group announced the sale of Algorithmics to IBM for $387 million, the deal closed on October 21,2011. Fitch Ratings long-term credit ratings are assigned on a scale from AAA to D, first introduced in 1924. Like S&P, Fitch also uses intermediate +/− modifiers for each category between AA and CCC, launched in 2008, Fitch Solutions offers a range of fixed-income products and professional development services for financial professionals. The firm also distributes Fitch Ratings proprietary credit ratings, research, financial data, for instance, losses on $340.7 million worth of collateralized debt obligations issued by Credit Suisse Group added up to about $125 million, despite being rated AAA by Fitch. However, differently from the agencies, Fitch has been warning the market on the constant proportion debt obligations with an early. FIMALAC Kroll Bond Rating Agency List of countries by credit rating Moodys Investors Service Spread Research Standard and Poors Fitch Ratings Fitch Solutions Fitch Learning U. S. Credit, Fitch Ratings
32.
United States dollar
–
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
33.
Indonesia
–
Indonesia, officially the Republic of Indonesia, is a unitary sovereign state and transcontinental country located mainly in Southeast Asia with some territories in Oceania. Situated between the Indian and Pacific oceans, it is the worlds largest island country, with more than seventeen thousand islands. At 1,904,569 square kilometres, Indonesia is the worlds 14th-largest country in terms of area and worlds 7th-largest country in terms of combined sea. It has an population of over 260 million people and is the worlds fourth most populous country. The worlds most populous island, Java, contains more than half of the countrys population, Indonesias republican form of government includes an elected legislature and president. Indonesia has 34 provinces, of which five have Special Administrative status and its capital and countrys most populous city is Jakarta, which is also the most populous city in Southeast Asia and the second in Asia. The country shares land borders with Papua New Guinea, East Timor, other neighbouring countries include Singapore, Vietnam, the Philippines, Australia, Palau, and the Indian territory of the Andaman and Nicobar Islands. Despite its large population and densely populated regions, Indonesia has vast areas of wilderness that support the second highest level of biodiversity. The country has abundant natural resources like oil and natural gas, tin, copper, agriculture mainly produces rice, palm oil, tea, coffee, cacao, medicinal plants, spices and rubber. Indonesias major trading partners are Japan, United States, China, the Indonesian archipelago has been an important region for trade since at least the 7th century, when Srivijaya and then later Majapahit traded with China and India. Local rulers gradually absorbed foreign cultural, religious and political models from the early centuries CE, Indonesian history has been influenced by foreign powers drawn to its natural resources. Indonesia consists of hundreds of native ethnic and linguistic groups. The largest – and politically dominant – ethnic group are the Javanese, a shared identity has developed, defined by a national language, ethnic diversity, religious pluralism within a Muslim-majority population, and a history of colonialism and rebellion against it. Indonesias national motto, Bhinneka Tunggal Ika, articulates the diversity that shapes the country, Indonesias economy is the worlds 16th largest by nominal GDP and the 8th largest by GDP at PPP, the largest in Southeast Asia, and is considered an emerging market and newly industrialised country. Indonesia has been a member of the United Nations since 1950, Indonesia is a member of the G20 major economies and World Trade Organization. The name Indonesia derives from the Greek name of the Indós, the name dates to the 18th century, far predating the formation of independent Indonesia. In 1850, George Windsor Earl, an English ethnologist, proposed the terms Indunesians—and, his preference, in the same publication, one of his students, James Richardson Logan, used Indonesia as a synonym for Indian Archipelago. However, Dutch academics writing in East Indies publications were reluctant to use Indonesia, they preferred Malay Archipelago, the Netherlands East Indies, popularly Indië, the East, and Insulinde
34.
Emerging markets
–
An emerging market is a country that has some characteristics of a developed market, but does not meet standards to be a developed market. This includes countries that may become developed markets in the future or were in the past, the term frontier market is used for developing countries with slower economies than emerging. The economies of China and India are considered to be the largest, according to The Economist, many people find the term outdated, but no new term has gained traction. Emerging market hedge fund capital reached a new level in the first quarter of 2011 of $121 billion. The four largest emerging and developing economies by either nominal or PPP-adjusted GDP are the BRIC countries, the next five largest markets are South Korea, Mexico, Indonesia, Turkey, and Saudi Arabia. Iran is also considered an emerging market, in the 1970s, less developed countries was the common term for markets that were less developed than the developed countries such as the United States, Western Europe, and Japan. These markets were supposed to provide potential for profit. This term was thought by some to be politically incorrect so the emerging market label was created, emphasizing the fluid nature of the category, political scientist Ian Bremmer defines an emerging market as a country where politics matters at least as much as economics to the markets. The research on emerging markets is diffused within management literature, more critical scholars have also studied key emerging markets like Mexico and Turkey. Julien Vercueil recently proposed a definition of the emerging economies. Catching-up growth, during at least the last decade, it has experienced an economic growth that has narrowed the income gap with advanced economies. Hence, emerging economies appears to be a by-product of the current globalization, at the beginning of the 2010s, more than 50 countries, representing 60% of the worlds population and 45% of its GDP, matched these criteria. The term rapidly developing economies is being used to denote emerging markets such as The United Arab Emirates, Chile and these countries do not share any common agenda, but some experts believe that they are enjoying an increasing role in the world economy and on political platforms. It is difficult to make an exact list of emerging markets, the best guides tend to be investment information sources like EMIS and these sources are well-informed, but the nature of investment information sources leads to two potential problems. One is an element of historicity, markets may be maintained in an index for continuity, possible examples of this are South Korea and Taiwan. In an Opalesque. TV video, hedge fund manager Jonathan Binder discusses the current, Binder says that in the future investors will not necessarily think of the traditional classifications of G10 versus emerging markets. Instead, people should look at the world as countries that are fiscally responsible, whether that country is in Europe or in South America should make no difference, making the traditional blocs of categorization irrelevant. Guégan et al. also discuss the relevance of the emerging country comparing the credit worthiness of so-called emerging countries to so-called developed countries
35.
Newly industrialised country
–
The category of newly industrialized country is a socioeconomic classification applied to several countries around the world by political scientists and economists. NICs are countries whose economies have not yet reached a developed countrys status but have, in a macroeconomic sense, another characterization of NICs is that of countries undergoing rapid economic growth. Incipient or ongoing industrialization is an important indicator of an NIC, NICs usually share some other common features, including, Strong political leaders. A switch from agricultural to industrial economies, especially in the manufacturing sector, an increasingly open-market economy of developed nations, allowing free trade with other countries in the world. Large national corporations operating in several continents, Strong capital investment from foreign countries. Political leadership in their area of influence, rapid growth of urban centers and population. There is a distinction between these countries and the countries now considered NICs. All four economies are classified as high-income economies by the World Bank and Advanced economies by the International Monetary Fund, all of them, like Western European countries, have a Human Development Index considered very high by the UN. The table below presents the list of countries consistently considered NICs by different authors, turkey and South Africa are classified as developed countries by the CIA. Turkey was a member of the OECD in 1961 and Mexico joined in 1994. The G8+5 group is composed of the original G8 members in addition to China, India, Mexico, South Africa, note, Green-colored cells indicate higher value or best performance in index, while yellow-colored cells indicate the opposite. For China and India, the population of these two countries means that per capita income will remain low even if either economy surpasses that of the United States in overall GDP. When GDP per capita is calculated according to purchasing power parity, GDP per capita typically is an indicator for living standards in a given country as well. This group is expected to expand to G14 by adding Egypt alongside the five forementioned countries, authors set lists of countries accordingly to different methods of economic analysis. Sometimes a work ascribes NIC status to a country that other authors dont consider NIC and this is the case of countries such as Argentina, Chile, Egypt, Sri Lanka and Russia. NICs usually benefit from low wage costs, which translates into lower input prices for suppliers. This comparative advantage is often criticized by advocates of the trade movement. Critics of NICs argue economic freedom is not always associated with freedom in countries such as China, pointing out that Internet censorship
36.
List of countries by GDP (nominal)
–
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
37.
GDP per capita
–
The world sorted by their gross domestic product per capita at nominal values. Such fluctuations may change a countrys ranking from one year to the next, therefore, these figures should be used with caution. GDP per capita is often considered an indicator of a standard of living. Comparisons of national income are also made on the basis of purchasing power parity. PPP largely removes the exchange rate problem but not others, it does not reflect the value of output in international trade. On the whole, PPP per capita figures are more spread than nominal GDP per capita figures. Non-sovereign entities are included in the list because they appear in the sources and these economies are not ranked in the charts here, but are listed in sequence by GDP for comparison. All data are in current United States dollars
38.
Asian financial crisis
–
At the time, Thailand had acquired a burden of foreign debt that made the country effectively bankrupt even before the collapse of its currency. As the crisis spread, most of Southeast Asia and Japan saw slumping currencies, devalued stock markets and other asset prices, Indonesia, South Korea and Thailand were the countries most affected by the crisis. Hong Kong, Laos, Malaysia and the Philippines were also hurt by the slump, brunei, China, Singapore, Taiwan and Vietnam were less affected, although all suffered from a loss of demand and confidence throughout the region. Foreign debt-to-GDP ratios rose from 100% to 167% in the four large Association of Southeast Asian Nations economies in 1993–96, in South Korea, the ratios rose from 13% to 21% and then as high as 40%, while the other northern newly industrialized countries fared much better. Only in Thailand and South Korea did debt service-to-exports ratios rise, the efforts to stem a global economic crisis did little to stabilize the domestic situation in Indonesia, however. After 30 years in power, President Suharto was forced to step down on 21 May 1998 in the wake of rioting that followed sharp price increases caused by a drastic devaluation of the rupiah. The effects of the crisis lingered through 1998, in 1998 the Philippines growth dropped to virtually zero. By 1999, however, analysts saw signs that the economies of Asia were beginning to recover, after the 1997 Asian Financial Crisis, economies in the region are working toward financial stability on financial supervision. Until 1999, Asia attracted almost half of the capital inflow into developing countries. The economies of Southeast Asia in particular maintained high interest rates attractive to investors looking for a high rate of return. As a result, the regions received a large inflow of money. At the same time, the economies of Thailand, Malaysia, Indonesia, Singapore. This achievement was widely acclaimed by financial institutions including IMF and World Bank, the causes of the debacle are many and disputed. Thailands economy developed into an economic bubble fueled by hot money, more and more was required as the size of the bubble grew. The same type of situation happened in Malaysia, and Indonesia, the short-term capital flow was expensive and often highly conditioned for quick profit. Development money went in an uncontrolled manner to certain people only, not particularly the best suited or most efficient. As the U. S. economy recovered from a recession in the early 1990s, the U. S. Federal Reserve Bank under Alan Greenspan began to raise U. S. interest rates to head off inflation. S. dollar. For the Southeast Asian nations which had pegged to the U. S. dollar
39.
Debt restructuring
–
Replacement of old debt by new debt when not under financial distress is called refinancing. Out-of-court restructurings, also known as workouts, are becoming a global reality. A debt restructuring, which involves a reduction of debt and an extension of payment terms, is usually an expensive alternative to bankruptcy. The main costs associated with debt restructuring are the time and effort negotiating with bankers, creditors, vendors, and tax authorities. In the United States, small business bankruptcy filings cost at least $50,000 in legal and court fees, by some measures, only 20% of firms survive Chapter 11 bankruptcy filings. Historically, debt restructuring has been the province of large corporations with financial wherewithal, in the Great Recession that began with the financial crisis of 2007–08, a component of debt restructuring called debt mediation emerged for small businesses. In 2010 debt mediation has become a way for small businesses to refinance in light of reduced lines of credit. Debt mediation can be cost-effective for small businesses, help end or avoid litigation, while there are numerous companies providing restructuring for large corporations, there are few legitimate firms working for small businesses. Legitimate debt restructuring firms only work for the client and should charge fees based on success. In a debt-for-equity swap, a companys creditors generally agree to some or all of the debt in exchange for equity in the company. Debt for equity deals often occur when large companies run into financial trouble. This is because both the debt and the assets in these companies are so large that there is no advantage for the creditors to drive the company into bankruptcy. Instead the creditors prefer to control of the business as a going concern. As a consequence, the original stake in the company is generally significantly diluted in these deals and may be entirely eliminated. Debt-for-equity swaps are one way of dealing with sub-prime mortgages, a debt-for-equity swap may also be called a bondholder haircut. There is no reason that American taxpayers should be doing this and he wrote that reducing bank debt levels by converting debt into equity will increase confidence in the financial system. He believes that addressing bank solvency in this way would help address credit market liquidity issues, economist Jeffrey Sachs has also argued in favor of such haircuts, The cheaper and more equitable way would be to make shareholders and bank bondholders take the hit rather than the taxpayer. The Fed and other regulators would insist that bad loans be written down on the books
40.
Economic history of Indonesia
–
The colonial state would be succeeded by Indonesian Republic after the World War II. Ancient kingdoms such as the Tarumanagara and Mataram were dependent on rice yields and this foreign contact was started by small Indianised trading kingdoms in the early 4th century that nurtured contacts with other major civilisations in Asian mainland, India and China. Other than fostering the trade relations with India and China. Later the Chinese chronicle mentioned about Shih-li-t-o-pa-mo, Maharaja of Shih-li-fo-shih in 724 had sent the emperor a tsengchi as a gift, Srivijaya would continue to dominate the economy of the Indonesian archipelago until declined in the 13th century. In 14th century Java, the Majapahit kingdom would grow into an empire that would control the trade. According to Chinese source from Ming Dynasty, Yingyai Shenglan, Ma Huan reported the Javanese economy, rice is harvested twice a year, and its grain is small. They also harvest white sesame and lentils, but there is no wheat, the beasts here are strange, there are white deer, white monkey, and various other animals. Pigs, goats, cattle, horses, poultries, and there are all types of ducks, for the fruits, there are all kinds of bananas, coconut, sugarcane, pomegranate, lotus, mang-chi-shi, watermelon and lang Cha. In addition, all types of squash and vegetables are there, taxes and fines were paid in cash. Javanese economy had been partly monetised since the late 8th century, using gold, previously, the 9th century Wonoboyo hoard discovered in Central Java shows that ancient Javan gold coins were seed-shaped, similar to corn, while the silver coins were similar to buttons. In about the year 1300, in the reign of Majapahits first king, an important change took place, about 10,388 ancient Chinese coins weighing about 40 kg were even unearthed from the backyard of a local commoner in Sidoarjo in November 2008. Indonesian Ancient Relics Conservation Bureau of East Java verified that those coins dated as early as Majapahit era and this was a role for which gold and silver are not well suited. These kepeng Chinese coins were thin rounded copper coins with a hole in the centre of it. The hole was meant to tie together the money in a string of coins and these small changes—the imported Chinese copper coins—enabled Majapahit further invention, a method of savings by using a slitted earthenware coin containers. These are commonly found in Majapahit ruins, the slit is the opening to put the coins in. The most popular shape is boar-shaped celengan, some idea of scale of the internal economy can be gathered from scattered data in inscriptions. The Canggu inscriptions dated 1358 mentions 78 ferry crossings in the country, Majapahit inscriptions mention a large number of occupational specialities, ranging from gold and silver smiths to drink vendors and butchers. The great prosperity of Majapahit was probably due to two factors, firstly, the northeast lowlands of Java were suitable for rice cultivation, and during Majapahits prime numerous irrigation projects were undertaken, some with government assistance
41.
Proclamation of Indonesian independence
–
The Proclamation of Indonesian Independence was read at 10.00 a. m. on Friday,17 August 1945. In 2005, the Netherlands declared that they had decided to accept de facto 17 August 1945 as Indonesias independence date, in a 2013 interview the Indonesian historian Sukotjo, amongst others, asked the Dutch government to formally acknowledge the date of independence as 17 August 1945. The United Nations, who mediated in the conflict, formally acknowledge the date of independence as 27 December 1949, the document was signed by Sukarno and Mohammad Hatta, who were appointed president and vice-president respectively the following day. The draft was prepared only a few hours earlier, on the night of 16 August, by Sukarno, Hatta, the original Indonesian Declaration of Independence was typed by Sayuti Melik. Maeda himself was sleeping in his room upstairs and he was agreeable to the idea of Indonesias independence, and had lent his house for the drafting of the declaration. Marshal Terauchi, the highest-ranking Japanese leader in South East Asia and son of Prime Minister Terauchi Masatake, was however against Indonesias independence, the declaration was to be signed by the 27 members of the Preparatory Committee for Indonesian Independence symbolically representing the new nations diversity. The particular act was inspired by a similar spirit of the United States Declaration of Independence. Instead, the radical activists demanded that the signatures of six of them were to be put on the document. All parties involved in the moment finally agreed on a compromise solution which only included Sukarno. There was no evidence for the growing suspicions, as the Japanese had already surrendered to the Allies. An English translation of the proclamation was broadcast overseas, proklamasi Kami, bangsa Indonesia, dengan ini menjatakan kemerdekaan Indonesia. Hal2 jang mengenai pemindahan kekoeasaan d. l. l, 17-8-45, changed to hari 17, boelan 8, tahoen 05, Wakil-Wakil Bangsa Indonesia, changed to Atas nama bangsa Indonesia. P R O K L A M A S I Kami, bangsa Indonesia, hal-hal jang mengenai pemindahan kekoeasaan d. l. l. Diselenggarakan dengan tjara saksama dan dalam tempo jang sesingkat-singkatnja, djakarta, hari 17 boelan 8 tahoen 05 Atas nama bangsa Indonesia, Soekarno/Hatta. An English translation published by the Ministry of Foreign Affairs as of October 1948 included the speech as read by Sukarno. It incorporated remarks made immediately prior to and after the actual proclamation, PROCLAMATION WE THE PEOPLE OF INDONESIA HEREBY DECLARE THE INDEPENDENCE OF INDONESIA. MATTERS WHICH CONCERN THE TRANSFER OF POWER AND OTHER THINGS WILL BE EXECUTED BY CAREFUL MEANS AND IN THE SHORTEST POSSIBLE TIME. DJAKARTA,17 AUGUST1945 IN THE NAME OF THE PEOPLE OF INDONESIA SOEKARNO/HATTA This proclamation is printed in the front of the Rp.100,000 Indonesian banknote of the year 1999 and 2004 series, java in a Time of Revolution, Occupation and Resistance, 1944-1946
42.
Japanese occupation of the Dutch East Indies
–
The Japanese Empire occupied the Dutch East Indies, now Indonesia, during World War II from March 1942 until after the end of the War in 1945. The period was one of the most critical in Indonesian history, initially, most Indonesians joyfully welcomed the Japanese, as liberators from their Dutch colonial masters. The sentiment changed, as Indonesians were expected to more hardship for the war effort. In 1944–1945, Allied troops largely bypassed Indonesia and did not fight their way into the most populous parts such as Java, as such, most of Indonesia was still under Japanese occupation at the time of their surrender, in August 1945. Unlike the Dutch, the Japanese facilitated the politicisation of Indonesians down to the village level, particularly in Java and, to a lesser extent, Sumatra, the Japanese educated, trained and armed many young Indonesians and gave their nationalist leaders a political voice. Until 1942, Indonesia was colonised by the Netherlands and was known as the Dutch East Indies, the Japanese spread the word that they were the Light of Asia. The Japanese had gradually spread their influence through Asia in the first half of the 20th century and these ranged from small town barbers, photographic studios and salesmen, to large department stores and firms such as Suzuki and Mitsubishi becoming involved in the sugar trade. The Japanese population peaked in 1931, with 6,949 residents before starting a gradual decrease, a number of Japanese had been sent by their government to establish links with Indonesian nationalists, particularly with Muslim parties, while Indonesian nationalists were sponsored to visit Japan. Such encouragement of Indonesian nationalism was part of a broader Japanese plan for an Asia for the Asians, also concerned were members of the Indonesian communist underground who followed the Soviet Unions popular united front against fascism. Japanese aggression in Manchuria and China in the late 1930s caused anxiety amongst the Chinese in Indonesia who set up funds to support the anti-Japanese effort, Dutch intelligence services also monitored Japanese living in Indonesia. The memorandum was refused because the Government did not consider the Madjlis Rakyat Indonesia to be representative of the people, within only four months, the Japanese had occupied the archipelago. On 8 December 1941, the Netherlands declared war on Japan, in January the American-British-Dutch-Australian Command was formed to co-ordinate Allied forces in South East Asia, under the command of General Archibald Wavell. In the weeks leading up to the invasion, senior Dutch government officials went into exile taking political prisoners, family, before the arrival of Japanese troops, there were conflicts between rival Indonesian groups where people were killed, vanished or went into hiding. Chinese- and Dutch-owned properties were ransacked and destroyed, the invasion in early 1942 was swift and complete. By January 1942, parts of Sulawesi and Kalimantan were under Japanese control, by February, the Japanese had landed on Sumatra where they had encouraged the Acehnese to rebel against the Dutch. On 27 February, the Allied navys last effort to contain Japan was swept aside by their defeat in the Battle of the Java Sea, from 28 February to 1 March 1942, Japanese troops landed on four places along the northern coast of Java almost undisturbed. The fiercest fighting had been in invasion points in Ambon, Timor, Kalimantan, in places where there were no Dutch troops, such as Bali, there was no fighting. On 9 March, the Dutch commander surrendered along with Governor General Jonkheer A. W. L, as the Japanese advanced, rebellious Indonesians in virtually every part of the archipelago killed groups of Europeans and informed the Japanese reliably on the whereabouts of larger groups
43.
Indonesian National Revolution
–
It took place between Indonesias declaration of independence in 1945 and the Dutch recognition of Indonesias independence at the end of 1949. The Indonesian independence movement began in May 1908, which is commemorated as the Year of National Awakening, the struggle lasted for over four years and involved sporadic but bloody armed conflict, internal Indonesian political and communal upheavals, and two major international diplomatic interventions. Dutch military forces were able to control the towns, cities and industrial assets in Republican heartlands on Java and Sumatra. In 1949 international pressure on the Netherlands became such that, together with the existing partial military stalemate, the revolution marked the end of the colonial administration of the Dutch East Indies, except for Netherlands New Guinea. It also significantly changed ethnic castes, as well as reducing the power of many of the local rulers and it did not significantly improve the economic or political fortune of the majority of the population, although a few Indonesians were able to gain a larger role in commerce. Budi Utomo, Sarekat Islam and others pursued strategies of co-operation by joining the Dutch initiated Volksraad in the hope that Indonesia would be granted self-rule, others chose a non-cooperative strategy demanding the freedom of self-government from the Dutch East Indies colony. The most notable of these leaders were Sukarno and Mohammad Hatta, the occupation of Indonesia by Japan for three and a half years during World War II was a crucial factor in the subsequent revolution. The Netherlands had little ability to defend its colony against the Japanese army, in Java, and to a lesser extent in Sumatra, the Japanese spread and encouraged nationalist sentiment. Just as significantly for the subsequent revolution, the Japanese destroyed and replaced much of the Dutch-created economic, administrative, on 7 September 1944, with the war going badly for the Japanese, Prime Minister Koiso promised independence for Indonesia, but no date was set. For supporters of Sukarno, this announcement was seen as vindication for his collaboration with the Japanese, under pressure from radical and politicised pemuda groups, Sukarno and Hatta proclaimed Indonesian independence, on 17 August 1945, two days after the Japanese Emperor’s surrender in the Pacific. The following day, the Central Indonesian National Committee elected Sukarno as President, PROCLAMATION We, the people of Indonesia, hereby declare the independence of Indonesia. Matters which concern the transfer of power and other things will be executed by careful means, as the news spread, most Indonesians came to regard themselves as pro-Republican, and a mood of revolution swept across the country. External power had shifted, it would be weeks before Allied Forces entered Indonesia, the resulting power vacuums in the weeks following the Japanese surrender, created an atmosphere of uncertainty, but also one of opportunity for the Republicans. Many pemuda joined pro-Republic struggle groups, the most disciplined were soldiers from the Japanese-formed but disbanded Giyugun and Heiho groups. Many groups were undisciplined, due to both the circumstances of their formation and what they perceived as revolutionary spirit, in the first weeks, Japanese troops often withdrew from urban areas to avoid confrontations. To spread the message, pemuda set up their own radio stations and newspapers. On most islands, struggle committees and militia were set up, Republican leaders struggled to come to terms with popular sentiment, some wanted passionate armed struggle, others a more reasoned approach. Some leaders, such as the leftist Tan Malaka, spread the idea that this was a struggle to be led
44.
Bank Negara Indonesia
–
Bank Negara Indonesia is the Indonesian State Bank, commonly known as Bank Negara Indonesia, it is an Indonesian bank. It has branches primarily in Indonesia, but it can found in Kuala Lumpur, Singapore, Hong Kong, Tokyo, London. It had 1000 branches and over 9 million customers in 2006 and it is listed on the Indonesia Stock Exchange as BBNI. Its market capitalization as of 12 March 2007 was 23.8 trillion rupiah and it is the fourth-largest bank of Indonesia in terms of assets. Bank Negara Indonesia was established on 5 July 1946 and it was prepared to be the Central Bank of Indonesia with the task of issuing and handling Indonesian currency. A few months after its establishment, Bank Negara Indonesia officially distributed the first official currency of Indonesia - ORI or Oeang Republik Indonesia, also in 1955, Bank Negara Indonesia officially opened its first foreign branch in Singapore. After a merger period with other commercial banks, the function. The status was resumed to that of a commercial bank. The official name was changed to Bank Negara Indonesia 1946, the program covered various aspects, including the improvement of the Corporate Vision and Mission, the refinement of strategic plans, as well as the development of technology and human resources. The law number 7 of the year 1992 opened-up opportunities for state-run banks to change their status into Limited State-Owned Corporations. With this change in status, the Banks name was officially replaced with PT. In 1996, Bank Negara Indonesias decision to become a company was manifested through an Initial Public Offering of its shares through the stock exchange. Bank Negara Indonesia was the first government bank in Indonesia which listed its shares on both the Jakarta Stock Exchange and the Surabaya Stock Exchange, the corporate name was amended to PT. Bank Negara Indonesia Tbk, to show its status as a public company, the governments banking recapitalization program, launched after the economic crisis, provided Bank Negara Indonesia with additional capital of IDR61,2 trillion. The bank introduced the latest logo in 2004, the nickname Bank BNI was changed to BNI. bank negara indonesia. com wilsonsimanjuntak. Official site Bank Negara Indonesia, Singapore Branch website Bank Negara Indonesia, Tokyo Branch website Wisma 46 Bank Indonesia List of banks in Indonesia
45.
Indonesian Rupiah
–
The rupiah is the official currency of Indonesia. Issued and controlled by the Bank of Indonesia, the ISO4217 currency code for the Indonesian rupiah is IDR, the name rupiah is derived from the Hindustani word rupiya, ultimately from Sanskrit rupya. Informally, Indonesians also use the word perak in referring to rupiah, the rupiah is subdivided into 100 sen, although inflation has rendered all coins and banknotes denominated in sen obsolete. The Riau islands and the Indonesian half of New Guinea had their own variants of the rupiah in the past, the current rupiah consists of coins from 100 rupiah up to 1000 rupiah and banknotes of 1000 rupiah up to 100,000 rupiah. With US$1 worth 13,300 rupiah, the largest Indonesian banknote is therefore worth approximately US$7.52, there are presently two series of coins in circulation, aluminium, bronze and nickel coins dated between 1991 and 2010. These come in denominations of 50,100,200,500, the older series of coins has been gradually disappearing. Currently circulating Indonesian banknotes date from 2000,2001,2004,2005,2009,2010, the 1998–1999 notes have not been legal tender since 31 January 2008. Earlier notes are no longer legal tender, due to the lack of security features and association with the Suharto regime. The government initially announced that this would change, with a 2, 000-rupiah note to replace the 1, 000-rupiah, following the issuance of Presidential Decree No. However, the material is abaca fibre, which is naturally plentiful in Indonesia and is believed to increase the durability of the banknotes. The banknotes are heat-processed to create a type of pulp. The minimum security features visible to the eye are watermarks, electrotypes. Extra features may be included, such as holograms, Irisafe, iridescent stripes, clear windows, metameric windows, watermark and electrotype are made by controlling the gap of density of the fibres which create certain images for the banknotes. This is done to raise the quality of the notes. Security threads are inserted into the note so that horizontal and vertical lines are shown from top to bottom, the threads can be varied in the materials, size, colour and design. Intaglio printing is used for the numbers in the banknote, to help blind people recognise genuine notes. The rupiah has been subject to high inflation for most of its existence, various attempts have been made to maintain the value of the currency, but all were abandoned. In the period from October 1946 to March 1950 Indonesian currency had no international recognition and its value was determined on the black market
$1.120 trillion (2017 est.)[1] by nominal
40.0 (2016)[4]
Japan 12%
United States 10.8%
China 10%
Singapore 8.4%
India 7.8%
South Korea 5.1%
Malaysia 5.1% (2015 est.)[8]
Thailand 5.7%
27% of GDP (2016)[11]
