International Monetary Fund
The International Monetary Fund is an international organization headquartered in Washington, D. C. It now plays a role in the management of balance of payments difficulties. Countries contribute funds to a pool through a system from which countries experiencing balance of payments problems can borrow money. As of 2016, the fund had SDR477 billion, the rationale for this is that private international capital markets function imperfectly and many countries have limited access to financial markets. The IMF provides alternate sources of financing and this assistance was meant to prevent the spread of international economic crises. The IMF was intended to help mend the pieces of the economy after the Great Depression. As well, to provide investments for economic growth and projects such as infrastructure. The IMFs role was altered by the floating exchange rates post-1971. It shifted to examining the economic policies of countries with IMF loan agreements to determine if a shortage of capital was due to economic fluctuations or economic policy, the IMF researched what types of government policy would ensure economic recovery.
Rather than maintaining a position of oversight of only exchange rates and their role became a lot more active because the IMF now manages economic policy rather than just exchange rates. In addition, the IMF negotiates conditions on lending and loans under their policy of conditionality, nonconcessional loans, which include interest rates, are provided mainly through Stand-By Arrangements, the Flexible Credit Line, the Precautionary and Liquidity Line, and the Extended Fund Facility. The IMF provides emergency assistance via the Rapid Financing Instrument to members facing urgent balance-of-payments needs, the IMF is mandated to oversee the international monetary and financial system and monitor the economic and financial policies of its member countries. This activity is known as surveillance and facilitates international cooperation, the responsibilities changed from those of guardian to those of overseer of members’ policies. In 1995 the International Monetary Fund began work on data dissemination standards with the view of guiding IMF member countries to disseminate their economic and financial data to the public.
The executive board approved the SDDS and GDDS in 1996 and 1997 respectively, the system is aimed primarily at statisticians and aims to improve many aspects of statistical systems in a country. It is part of the World Bank Millennium Development Goals, some countries initially used the GDDS, but upgraded to SDDS. The IMF does require collateral from countries for loans but requires the government seeking assistance to correct its macroeconomic imbalances in the form of policy reform, if the conditions are not met, the funds are withheld. The concept of conditionality was introduced in a 1952 Executive Board decision, conditionality is associated with economic theory as well as an enforcement mechanism for repayment
South Africa, officially the Republic of South Africa, is the southernmost country in Africa. South Africa is the 25th-largest country in the world by land area and it is the southernmost country on the mainland of the Old World or the Eastern Hemisphere. About 80 percent of South Africans are of Sub-Saharan African ancestry, divided among a variety of ethnic groups speaking different Bantu languages, the remaining population consists of Africas largest communities of European and multiracial ancestry. South Africa is a multiethnic society encompassing a variety of cultures, languages. Its pluralistic makeup is reflected in the recognition of 11 official languages. The country is one of the few in Africa never to have had a coup détat, the vast majority of black South Africans were not enfranchised until 1994. During the 20th century, the black majority sought to recover its rights from the dominant white minority, with this struggle playing a role in the countrys recent history. The National Party imposed apartheid in 1948, institutionalising previous racial segregation, since 1994, all ethnic and linguistic groups have held political representation in the countrys democracy, which comprises a parliamentary republic and nine provinces.
South Africa is often referred to as the Rainbow Nation to describe the multicultural diversity. The World Bank classifies South Africa as an economy. Its economy is the second-largest in Africa, and the 34th-largest in the world, in terms of purchasing power parity, South Africa has the seventh-highest per capita income in Africa. However and inequality remain widespread, with about a quarter of the population unemployed, South Africa has been identified as a middle power in international affairs, and maintains significant regional influence. The name South Africa is derived from the geographic location at the southern tip of Africa. Upon formation the country was named the Union of South Africa in English, since 1961 the long form name in English has been the Republic of South Africa. In Dutch the country was named Republiek van Zuid-Afrika, replaced in 1983 by the Afrikaans Republiek van Suid-Afrika, since 1994 the Republic has had an official name in each of its 11 official languages. Mzansi, derived from the Xhosa noun umzantsi meaning south, is a name for South Africa.
South Africa contains some of the oldest archaeological and human fossil sites in the world, extensive fossil remains have been recovered from a series of caves in Gauteng Province. The area is a UNESCO World Heritage site and has termed the Cradle of Humankind
Central Intelligence Agency
As one of the principal members of the U. S. Intelligence Community, the CIA reports to the Director of National Intelligence and is focused on providing intelligence for the President. Though it is not the only U. S. government agency specializing in HUMINT and it exerts foreign political influence through its tactical divisions, such as the Special Activities Division. Despite transferring some of its powers to the DNI, the CIA has grown in size as a result of the September 11 attacks. In 2013, The Washington Post reported that in fiscal year 2010, the CIA has increasingly expanded its roles, including covert paramilitary operations. One of its largest divisions, the Information Operations Center, has shifted focus from counter-terrorism to offensive cyber-operations, when the CIA was created, its purpose was to create a clearinghouse for foreign policy intelligence and analysis. Today its primary purpose is to collect, analyze and disseminate foreign intelligence, warning/informing American leaders of important overseas events, with Pakistan described as an intractable target.
Counterintelligence, with China, Iran, the Executive Office supports the U. S. military by providing it with information it gathers, receiving information from military intelligence organizations, and cooperates on field activities. The Executive Director is in charge of the day to day operation of the CIA, each branch of the military service has its own Director. The Directorate has four regional groups, six groups for transnational issues. There is a dedicated to Iraq, regional analytical offices covering the Near East and South Asia and Europe, and the Asian Pacific, Latin American. The Directorate of Operations is responsible for collecting intelligence. The name reflects its role as the coordinator of intelligence activities between other elements of the wider U. S. intelligence community with their own HUMINT operations. This Directorate was created in an attempt to end years of rivalry over influence, philosophy, in spite of this, the Department of Defense recently organized its own global clandestine intelligence service, the Defense Clandestine Service, under the Defense Intelligence Agency.
This Directorate is known to be organized by regions and issues. The Directorate of Science & Technology was established to research, many of its innovations were transferred to other intelligence organizations, or, as they became more overt, to the military services. For example, the development of the U-2 high-altitude reconnaissance aircraft was done in cooperation with the United States Air Force, the U-2s original mission was clandestine imagery intelligence over denied areas such as the Soviet Union. It was subsequently provided with signals intelligence and measurement and signature intelligence capabilities, subsequently, NPIC was transferred to the National Geospatial-Intelligence Agency
Hong Kong, officially the Hong Kong Special Administrative Region of the Peoples Republic of China, is an autonomous territory on the Pearl River Delta of East Asia. Macau lies across the delta to the west, and the Chinese province of Guangdong borders the territory to the north. With a total area of 1,106 square kilometres. Hong Kong was occupied by Japan during World War II until British control resumed in 1945, under the principle of one country, two systems, Hong Kong maintains a separate political and economic system from China. Except in military defence and foreign affairs, Hong Kong maintains its independent executive, legislative, in addition, Hong Kong develops relations directly with foreign states and international organisations in a broad range of appropriate fields. Hong Kong is one of the worlds most significant financial centres, with the highest Financial Development Index score and consistently ranks as the worlds most competitive and freest economic entity. As the worlds 8th largest trading entity, its legal tender, Hong Kongs tertiary sector dominated economy is characterised by simple taxation with a competitive level of corporate tax and supported by its independent judiciary system.
However, while Hong Kong has one of the highest per capita incomes in the world and it has a very high Human Development Index ranking and the worlds longest life expectancy. Over 90% of the population use of well-developed public transportation. Seasonal air pollution with origins from neighbouring areas of Mainland China. Hong Kong was officially recorded in the 1842 Treaty of Nanking to encompass the entirety of the island, before 1842, the name referred to a small inlet—now Aberdeen Harbour, literally means Little Hong Kong)—between Aberdeen Island and the southern coast of Hong Kong Island. Aberdeen was a point of contact between British sailors and local fishermen. Detailed and accurate romanisation systems for Cantonese were available and in use at the time, fragrance may refer to the sweet taste of the harbours fresh water estuarine influx of the Pearl River or to the incense from factories lining the coast of northern Kowloon. The incense was stored near Aberdeen Harbour for export before Hong Kong developed Victoria Harbour, the name had often been written as the single word Hongkong until the government adopted the current form in 1926.
Nevertheless, a number of century-old institutions still retain the form, such as the Hongkong Post, Hongkong Electric. As of 1997, its name is the Hong Kong Special Administrative Region of the Peoples Republic of China. This is the title as mentioned in the Hong Kong Basic Law. Hong Kong has carried many nicknames, the most famous among those is the Pearl of the Orient, which reflected the impressive nightscape of the citys light decorations on the skyscrapers along both sides of the Victoria Harbour
Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in gross domestic product, or real GDP. Growth is usually calculated in real terms – i. e. inflation-adjusted terms – to eliminate the effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting, since economic growth is measured as the annual percent change of gross domestic product, it has all the advantages and drawbacks of that measure. The rate of economic growth refers to the annual rate of growth in GDP between the first and the last year over a period of time. Implicitly, this rate is the trend in the average level of GDP over the period. An increase in economic growth caused by efficient use of inputs is referred to as intensive growth. GDP growth caused only by increases in the amount of available for use is called extensive growth. The economic growth rate is calculated from data on GDP estimated by countries´statistical agencies, the rate of growth of GDP/capita is calculated from data on GDP and people for the initial and final periods included in the analysis.
The rate of change of GDP/population is the sum of the rates of change of four variables plus their cross products. Increases in labor productivity have historically been the most important source of real per capita economic growth, increases in productivity lower the real cost of goods. Over the 20th century the price of many goods fell by over 90%. Economic growth has traditionally been attributed to the accumulation of human and physical capital, the rapid economic growth that occurred during the Industrial Revolution was remarkable because it was in excess of population growth, providing an escape from the Malthusian trap. Countries that industrialized eventually saw their population growth slow down, a known as the demographic transition. Increases in productivity are the factor responsible for per capita economic growth – this has been especially evident since the mid-19th century. Most of the growth in the 20th century was due to increased output per unit of labor, energy. The balance of the growth in output has come from using more inputs, both of these changes increase output.
The increased output included more of the goods produced previously and new goods
An economist is a practitioner in the social science discipline of economics. The individual may study and apply theories and concepts from economics and write about economic policy. A generally accepted interpretation in academia is that an economist is one who has attained a Ph. D. in economics, teaches economic science, the professionalization of economics, reflected in academia, has been described as the main change in economics since around 1900. Economists debate the path they believe their profession should take, surveys among economists indicate a preference for a shift toward the latter. Most major universities have a faculty, school or department. However, many prominent economists come from a background in mathematics, political science, sociology, getting a PhD in economics takes six years, on average, with a median of 5.3 years. The Nobel Memorial Prize in Economics, established by Sveriges Riksbank in 1968, is a prize awarded to each year for outstanding intellectual contributions in the field of economics.
The prize winners are announced in October every year and they receive their awards on December 10, the anniversary of Alfred Nobels death. In contrast to regulated professions such as engineering, law or medicine, in academia, to be called an economist requires a Ph. D. degree in Economics. A professional working inside of one of many fields of economics or having a degree in this subject is often considered to be an economist. In addition to government and academia, economists are employed in banking, accountancy, marketing, business administration, lobbying. Politicians often consult economists before enacting economic policy, many statesmen have academic degrees in economics. Economics graduates are employable in varying degrees depending on the regional economic scenario, small numbers go on to undertake postgraduate studies, either in economics, teacher training or further qualifications in specialist areas. Nearly 135 colleges and universities grant around 900 new Ph. D. s every year, incomes are highest for those in the private sector, followed by the federal government, with academia paying the lowest incomes.
As of January 2013, PayScale. com showed Ph. D. economists salary ranges as follows, all Ph. D. economists, $61,000 to $160,000, Ph. D. The largest single grouping of economists in the UK are the more than 1000 members of the Government Economic Service. This figure compares very favourably with the picture, with 64 percent of economics graduates in employment. Some current well-known economists include, Ben Bernanke, Chairman of the Federal Reserve from 2006 to 2014, milton Friedman, Nobel Memorial Prize in Economic Sciences laureate in Economics
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 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, 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
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, 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 and Singapore on 16 September 1963 to become Malaysia, less than two years 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, 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, 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
World Bank high-income economy
A high-income economy is defined by the World Bank as a country with a gross national income per capita above US$12,475 in 2015, calculated using the Atlas method. While the term high-income is often used interchangeably with First World and developed country, the term first world commonly refers to countries that aligned themselves with the U. S. and NATO during the cold war. According to the United Nations, for example, some countries may be developing countries. The GCC countries, for example, are classified as developing high-income countries, thus, a high-income country may be classified as either developed or developing. Although the Holy See is a state, it is not classified by the World Bank under this definition. According to the World Bank the following 79 countries are classified as high-income economies, in parenthesis the year during which they held such classification. American Samoa Argentina Equatorial Guinea Mayotte Netherlands Antilles a Russia Venezuela a Dissolved on 10 October 2010, succeeded by Curaçao and Sint Maarten.
b Between 1994 and 2009, as part of the Netherlands Antilles. The high-income threshold was set in 1989 at US$6,000 in 1987 prices. Thresholds for subsequent years were adjusted taking into account the average inflation in the G-5 countries, and from 2001, that of Japan, the United Kingdom, the United States, the thresholds remain constant in real terms over time. To ensure no country falls right on the threshold, country data are rounded to the nearest 10, the following table shows the high-income threshold from 1987 onwards. Countries with a GNI per capita above this threshold are classified by the World Bank as high-income economies, high income OECD country Developed country Developing country Least developed country North–South divide
Turkey, officially the Republic of Turkey, is a transcontinental country in Eurasia, mainly in Anatolia in Western Asia, with a smaller portion on the Balkan peninsula in Southeast Europe. Turkey is a democratic, unitary, parliamentary republic with a cultural heritage. The country is encircled by seas on three sides, the Aegean Sea is to the west, the Black Sea to the north, and the Mediterranean Sea to the south. The Bosphorus, the Sea of Marmara, and the Dardanelles, Ankara is the capital while Istanbul is the countrys largest city and main cultural and commercial centre. Approximately 70-80% of the countrys citizens identify themselves as ethnic Turks, other ethnic groups include legally recognised and unrecognised minorities. Kurds are the largest ethnic minority group, making up approximately 20% of the population, the area of Turkey has been inhabited since the Paleolithic by various ancient Anatolian civilisations, as well as Assyrians, Thracians, Phrygians and Armenians. After Alexander the Greats conquest, the area was Hellenized, a process continued under the Roman Empire.
The Seljuk Sultanate of Rûm ruled Anatolia until the Mongol invasion in 1243, the empire reached the peak of its power in the 16th century, especially during the reign of Suleiman the Magnificent. During the war, the Ottoman government committed genocides against its Armenian, following the war, the conglomeration of territories and peoples that formerly comprised the Ottoman Empire was partitioned into several new states. Turkey is a member of the UN, an early member of NATO. Turkeys growing economy and diplomatic initiatives have led to its recognition as a regional power while her location has given it geopolitical, the name of Turkey is based on the ethnonym Türk. The first recorded use of the term Türk or Türük as an autonym is contained in the Old Turkic inscriptions of the Göktürks of Central Asia, the English name Turkey first appeared in the late 14th century and is derived from Medieval Latin Turchia. Similarly, the medieval Khazar Empire, a Turkic state on the shores of the Black.
The medieval Arabs referred to the Mamluk Sultanate as al-Dawla al-Turkiyya, the Ottoman Empire was sometimes referred to as Turkey or the Turkish Empire among its European contemporaries. The Anatolian peninsula, comprising most of modern Turkey, is one of the oldest permanently settled regions in the world, various ancient Anatolian populations have lived in Anatolia, from at least the Neolithic period until the Hellenistic period. Many of these peoples spoke the Anatolian languages, a branch of the larger Indo-European language family, in fact, given the antiquity of the Indo-European Hittite and Luwian languages, some scholars have proposed Anatolia as the hypothetical centre from which the Indo-European languages radiated. The European part of Turkey, called Eastern Thrace, has been inhabited since at least forty years ago. It is the largest and best-preserved Neolithic site found to date, the settlement of Troy started in the Neolithic Age and continued into the Iron Age
The term is modeled on Four Asian Tigers, Tatra Tiger and Celtic Tiger, which were used to describe the economic boom periods in parts of Asia and Ireland, respectively. Between 2000 and 2007, the Baltic Tiger states had the highest growth rates in Europe, in 2006, for example, Estonia grew by 10. 3% in gross domestic product, while Latvia grew by 11. 9% and Lithuania by 7. 5%. All three countries by February 2006 saw their rates of unemployment falling below average EU values, Estonia is among the ten most liberal economies in the world and in 2006 switched from being classified as an upper-middle income economy to a high-income economy by the World Bank. All three countries joined the European Union in May 2004, Estonia adopted the Euro in January 2011, Latvia in 2014 and Lithuania entered the Eurozone in 2015. In 2008, the financial crisis triggered the collapse of the Baltic property markets. In 2008, Latvias GDP shrank by −4. 6% and Estonias −3. 6% while Lithuanias slowed to 3. 0%. As the crisis swept across Eastern and Central Europe the economic reversal intensified, Estonias GDP dropped by -16.
2% year-on-year, Latvia’s by −19. 6%, by mid-2009, all three countries experienced one of the deepest recessions in the world. Estonias GDP grew by 8. 3% in 2011, Lithuanias GDP grew by 5. 9%, in international dollars, at purchasing power parity. Numbers in brackets show the respective countrys GDP per capita as a percentage of the eurozone average, Economies of the Baltic Tigers, Economy of Estonia Economy of Latvia Economy of Lithuania Other Tigers Four Asian Tigers Tiger Cub Economies Celtic Tiger Tatra Tiger Gulf Tiger