About the economy

Gen Wright asked:


s a country on the Atlantic coast in Southern Africa. It is famous for the Etosha Park safari and the Atlantic coast tourist spot of Swakopmund and Walvis Bay. The Namibian economy is based on mining, manufacturing and foreign currency flows from eco tourism.

Namibia is the world?s fourth largest manufacturer of Uranium. Apart from this ranking the country also holds the fourth rank in non-fuel minerals exports in Africa. The Economy of Namibia is closely tied with South Africa. The country is Namibia?s largest trade partner and accounts for four fifths of Namibia?s imports. Almost all of Namibia?s consumables and manufacturing equipment is imported form South Africa. Namibia also has rich deposits of gem quality diamonds. The De Beers diamond company of South Africa has mining operations in Oranjemund and in Elizabeth Bay near Luederitz.

The country also produces large quantities of lead, zinc, tin, silver and tungsten. Agriculture is the second most important economic sector in the country. This sector generates almost half of the jobs in the country but constitutes only a small fraction of the GDP. Fish processing is another important sector. A 2000 mile seamile-zone is demarcated for fishing activities of only Namibian companies. Fish processing and canneries are slowly becoming a major economic contributor to the Namibian economy.

The Namibian economy has a modern market sector, which produces most of the country’s wealth, and a traditional subsistence sector. Although the majority of the population engages in subsistence agriculture and herding, Namibia has more than 200,000 skilled workers, as well as a small, well-trained professional and managerial class.

The country’s sophisticated formal economy is based on capital-intensive industry and farming. However, Namibia’s economy is heavily dependent on the earnings generated from primary commodity exports in a few vital sectors, including minerals, especially diamonds, livestock, and fish. Furthermore, the Namibian economy remains integrated with the economy of South Africa, as the bulk of Namibia’s imports originate there.

Given its small domestic market but favourable location and a superb transport and communications base, Namibia is a leading advocate of regional economic integration. In addition to its membership in the Southern African Development Community (SADC), Namibia presently belongs to the Southern African Customs Union (SACU) with South Africa, Botswana, Lesotho, and Swaziland. Within SACU, no tariffs exist on goods produced in and moving among the member countries.

Ninety percent of Namibia’s imports originate in South Africa, and many Namibian exports are destined for the South African market or transit that country. Namibia’s exports consist mainly of diamonds and other minerals, fish products, beef and meat products, karakul sheep pelts, and light manufactures. In recent years, Namibia has accounted for about 5% of total SACU exports, and a slightly higher percentage of imports.

The Namibian economic policies are closely associated with the South African economic policies. The interest rates in the country are high to keep inflation low. Though the Namibian economy is third in Africa, per capita incomes are still low. Almost 40% of the employable population in the country is unemployed.



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kamran khan asked:


Pakistani Nation & Declining Economy in Lieu Of War Against Terrorism.

Pakistani nation stands prominent in the line of nations emanated over the World. Each prime definition regarding nation puts forth Pakistani people as a consummate nation. which is rich in its traditions, culture and customs.

The nation exists as a single Islamic country with atomic power which enhances its pride and status quo. Currently it is playing a significant role in the war against terrorism in order to eliminate the elements responsible for destabilizing the law and order situation within the country and posing a serious threat to international security.

It shaves qualetaral and fraternal relations with the core countries like china, Turkey, Saudi Arabia, Japan etc. but it faces hostility from some others like India and Israel.

It is badly disturbed due to the suicidal attacks undertaken throughout the country. It demands to the sitting government to constitute a broad based counter strategy to eradicate the dilemma.

The war against terrorism has beget a serious threat to Pakistan economy. The lost includes:-

The foreign investment has been seized on account of destability and chaotic situation. The small business is badly destroyed in Sawat valley which has left the people miserable. The suicidal attacks have created the situation of awe and fear among the people who have minimized their economic activities throughout the country. Due to limited foreign investment has imbalanced the imports and exports of Pakistan. Hence it is another blow to a scrambling economy. US administration is continuously propagating against us despite sincere efforts were stepped up by Pakistan in the war against terrorism. This propaganda campaign is also punch to the lingering economy when international community is curbing their diplomatic movement in Pakistan.

Keeping the above mentioned situation in mind one is true to conjecture that war against terrorism has not only spoiled our image at international level but also has caused a serious loss to our economy. Accordingly, the whole nation humbly demands of a constructive attitude and long term policies to get rid of the economic crisis. The following measures can be taken into consideration to neutralize the existing difficulties regarding economy:-

· The decision makers should formulate the policy what is in the prime interests of the nation and finish the co operation with USA in the war against terrorism. Accordingly there would be stability in the country.

· In order to stabilize the state, the foreign capitalists could be invited in the country for the sake of investment.

· The Pakistani capitalists should also bring their money back deposited in foreign banks.

· The local investors should be encouraged and urged to invest in the country.

· More importantly long term policies are required in reference to economy.

The aforesaid measures are based on constructive principles which may help the country to get rid of the crisis but it puts the great responsibilities on the shoulders of Pakistani leadership how it copes with crisis and how it shows seriousness and maturity in the context of giving more preference to the national interests.

Kamran Khan

Kamran1788@hotmail.com



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Shane Uehara asked:


Don’t they make money either way by commission no matter if their clients are making money or losing? Even if they lost all the money, it is ultimately their own fault for getting themselves into the mess and not them right? The stockbrokers can always just live to trade another day when the economy change for the better again, no?

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mr. toothpick asked:


I know the drop in our economy DOES impact other countries. For instance, if our economy drops we stop importing as many things from other countries as well as investing in many of the global markets.
But, other than these impacts, how does the US affect other countries? And on what scale?
No, this is not for school. Merely a question by a curious college student.

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Curtis P asked:


Seems to me that after the increase in the minimum wage the economy has gone in the tank. The only thing I see it has done is narrow the gap of the middle american income.

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Vladimir Gonzalez asked:


The economy of Malaysia has expanded a lot in 2004, as in the following years, with a growth of 7.1 percent. At that time, GNI was at $ 117.1 billion and the GNI per capita at $ 4650. Malaysia’s economy continues to grow. In terms of purchasing power parity, the country was the twenty-ninth largest economy on the globe, having gross domestic product at $357.9 billion in 2007. Due to its continuous development in the industrial sector, Malaysia has one of the biggest living standards in Southeast Asia.

Malaysia has rich natural resources: palm oil, timber, tin, crude petroleum and rubber. Agriculture accounts for 12 per cent of the country’s GDP. 16 per cent of the working population is employed in the domain of agriculture. The most important crops are palm oil, cocoa and rubber, but also fruits and vegetables: coconuts, pineapples, rambutan, bananas and durian.

The country cannot satisfy the population’s everyday need for rice, so Malaysia is forced to import it from the neighboring countries such as Vietnam or Thailand. Malaysia is the biggest producer of palm oil in the world; it produced 10 million metric tons of palm oil in 1999, most of which was exported. Malaysia is also a big exporter of rubber and wood: tropical logs, sawed tropical timber, hardwood.

The manufacturing sector provides: furniture, office machines, electrical machines and appliances, clothing, footwear. International trade has a big role in the country’s economy, as it is one of the three countries controlling the Strait of Malacca. 48% of the country’s GDP is covered by the industrial sector: banking, telecommunications, tobacco, transportation, utilities. Bank Negara Malaysia regulates the financial sector in Malaysia. It licenses limits for foreign participation. In 2001, the central bank launched a Financial Sector Master Plan to recuperate the financial sector after the financial crisis in Asia, with an emphasis on Islamic Banks.

Poverty is still a big issue to be solved. Urban poverty seems to have been neglected in the favor of rural poverty, because it is considered that only 2 percent of the urban population lives in poverty. Malaysia’s economy managed to sustain a fast economic development in the last thirty years. It has reduced poverty and provided a better environment for the ethnic groups in the country. The World Bank confirms the fact that growth was registered in all Malaysian sectors. Growth was continuous for 5 years mostly due to domestic consumption. The private investments led to a private sector, increasing the country’s economy.



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Vladimir Gonzalez asked:


The United Kingdom is the world’s sixth largest economy, but it is the largest economy in Europe. The United Kingdom’s economy consists of England’s, Wales’, Northern Island’s and Scotland’s economies put together.

Over the past years, the British economy has grown constantly, continuing an economic growth of over one hundred and fifty years. The UK has the strongest economy in the European union as far as inflation, unemployment and interest rates are concerned, all of them continuing to be low. Out of all the countries in the UE, the International Monetary Fund rates the UK as having the seventh highest level of DGP per capita in terms of purchasing power parity. It also has the third largest current account deficit on the globe.

Sixty percent of food necessities are furnished by local agriculture activities. The United Kingdom has plenty of reserves of natural gas, coal and oil, making up for 10% of the country’s GDP. The services industry is made out of hospitality, real estate, health care, food chains, but also of financial services like insurance and banking. In London there are many branches of financial organizations from everywhere around the globe.

Agriculture contributes two percent of GDP; it is mechanized and very efficient. The English grow crops of oats, potatoes, wheat, sugar beet, linseed, hemp or barley. They raise chickens, sheep and cattle. The fishing industry is also present in the UK, especially in towns on the coast such as: Peterhead, Grimsby, Lowestoft, Frasersburgh or Fletwood.

Engineering contributes 30% of the total GDP in manufacturing, being the largest sector in industry. Other important field of the Engineering and allied industries is that of electronics. The United Kingdom manufactures a wide range of equipment. Some companies build private motor yachts (Fairline Boats, Sunseeker) and some manufacture power generation systems or aerospace engines. Other significant sectors in the industry of manufacturing are: tobacco, food and drink, printing, textiles and publishing.

Business investment was supposed to grow about 5 percent a year in 2007 and 2008. For creative industries, tax credit is to be expanded. In 2007, the United Kingdom became India’s fifth most important trading partner. It exports diamonds, precious metals, industrial machinery, telecommunication equipment, chemicals and transport equipment. Out of all the Asian countries, India is the eighth most important investor in the United Kingdom. In 2003, the number of Indian businesses that invested in the UK grew with almost fifty percent over the year before.



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John K asked:


The country is running on borrowed money. What’s going to happen when we run out and can’t borrow any more? It’s like we are living on credit cards. Sure, the economy LOOKS better but sooner or later we run out of credit and have to pay it back. Then what?

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interdependent globalized world asked:


The only legitimate way to pay back debt or have a viable economy is to have exports through manufacturing and production to offset the debt and seemingly unlimited consumer spending.

If foreign countries were to take away our ability to import or borrow money the economy would collapse tomorrow and there would be an enormous amount of money with an extraordinarily small amount of goods which would create a hyperinflation scenario.

The monetary policies we have now of expanding the money supply with 0% interest rates is also very dangerous for inflation down the road.
All this stimulus money, hundreds of billions of dollars, in my opinion, should go all around the country into creating new factories and the tools in the factories to create products through mass production.
In my view, country has to go back to a sound base of economics, saving its money, exporting products and natural resources to pay back the trillions of dollars of debt, not relying on other countries for their products, raising the interest rates quite a lot and only allowing reasonable loans, and cutting government spending quite a bit.

Of course, this would force the country into a recession which everyone seems to want to avoid right now.
The US is no longer in the industrial revolution, China and India are and they are doing much better then the US at the moment.

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