We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Comparative Economic Systems - Essay Example

Comments (0)
Summary
Comparative Economic Systems Abstract This paper intends to present a comparative study of the US economy, taking into account the economic components of China, UK and Russia. The paper thereafter illustrates the role of foreign trade relations, unemployment rates, inflationary rates and the population variations as major determinants to the GDP growth rate of the economies…
Download full paper
GRAB THE BEST PAPER
Comparative Economic Systems
Read TextPreview

Extract of sample
Comparative Economic Systems

Download file to see previous pages... The size of the population along with the role of the government in programming economic growth processes, all help to determine the stability of the country. The labor market, capital market, the agriculture, trade, healthcare together reflects the economic strength of the country. Emphasizing these aspects of economic growth dynamics, this paper will aim at assessing the economic components of the US in comparison to the performance of China, Russia and the UK. Prime focus will remain in studying the economic variability of these countries in the recent era. From a generalized point of view, as can be observed, the growth of the US economy as compared to the other nations has been more because of its industrialization benefits, which illustrates that the economy considerably depends on its micro and macro environment. Discussion Comparison between China and the US The US has remained one of the leading economies of the world since 1979. However, recent statistics comparing the US growth rate with that of China reveals that both the countries reside alongside with insignificant differences in their growth rates. As per the statistical reports of aThe World Bank (2013), China’s GDP growth rates have been consistently higher than the US since 2003 to 2012. Comparisons on the performances of the two economies further indicate that even though the GDP growth rate was higher for China, its GDP in the USD tends to be much lower in comparison to that of the US. For instance, the GDP USD recorded for China as on the fiscal year 2012 was estimated at $8.358 trillion, while the recorded GDP USD for the US in the same year amounted to $15.68 trillion. One of the possible reasons to such fluctuation may be caused due to their differences in terms of population and other socio-economic components. To be noted, China currently is recorded to host 1.351 billion nationals, where the total population of the US is recorded to be 313.9 million in comparison [refer to Table 1 in the Appendix] (aThe World Bank, 2013; bThe World Bank, 2013). This indicates that even though the Chinese economic growth may seem to be better than that of the US, an in-depth understanding to the issue exhibits a different scenario altogether, owing to their differences in terms of various other inherent economic factors. . As per the data, China is the second largest trade partner of America, since 1980 to 2012, the countries saw a growth of $5 billion to $536 billion (Morrison, 2013). This again makes the macro-economic components of trade largely interdependent among these two countries, where the economic prosperity of China may also influence the economic performance of the US to a substantial extent. It is worth mentioning in this context that as a developing nation, China possesses certain benefits, which the US lacks when performing in the global market. For instance, the GDP growth rate of China has shown a regular growth since 1979 to 2013, even when the world was facing an economic slowdown and the GDP growth rate in the US declined to zero [refer to Table 1 in the Appendix]. It was fundamentally owing to the flexibility enjoyed by a developing natio ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Economic Environment of China
The system in which the Chinese markets work has made it the fastest growing economies of the world. The international trade of the country is also quite pronounced and it has made the country one of the dominant players in the world market. This paper makes the attempt to analyze how far the socialist structure of economy has been implemented in China and how it has contributed to the GDP growth and the economic welfare of the country.
17 Pages(4250 words)Essay
Comparative Economic Systems
Although the economic growth and recovery in the US was marked since 2009, in present times, it seems that the growth has become slower but steady. Similar to the US, other nations of Europe has also faced severe effects of the economic recession such as the UK and Germany.
10 Pages(2500 words)Essay
Comparative Business Systems
The country weathered the global financial recession, which had insignificant effects on Brazil economy; hence, it was one of the last to fall in to recession during 2008 and among the first to resume the growth in 2009. Germany has been considered the largest national economy in EU; in fact, it is ranked fourth largest nominal GDP worldwide and fifth GPD (PPP), during the year 2008.
3 Pages(750 words)Essay
Economic System
Economic systems benefit the people in a broad sense but in essence these work to promote the basis of a country's economic problems and woes on a proactive basis. It looks to solve the issues which could crop up in the wake of the economic recessions, global downslides in stock markets, etc.
5 Pages(1250 words)Essay
Comparative economic systems
All economic activity including agriculture and trade was conducted as inherited roles within a family structure. Tradition determined what people did for a living and how the work was to be performed. In
10 Pages(2500 words)Essay
Comparative Economic Systems
The phenomenon of globalization has become ubiquitous in the new neo-liberal world order of the last few decades. This particular form of capitalism has steadily replaced socialistic and communistic
3 Pages(750 words)Essay
Comparative Economic Systems
in the framework of electoral democracy, the government finds it unacceptable “to leave the marginalised groups without the means of labour and to fend for themselves, since this carries the risk of turning them into the dangerous classes” (Chatterjee, 2008, p.53). With the
4 Pages(1000 words)Essay
Modern Business in Comparative Perspective
In the traditional system, activities are shaped by the traditional system. Long existing patterns determine how people exchange goods and services, how individuals, and
8 Pages(2000 words)Essay
Analyse three types of economic systems illustrating the problems and advantages associated with them
The mode in which goods are services are produced, and resources are allocated is referred to as an economic system (Tucker, 2010). An economic system forms a platform on which goods and services are produced and exchanged. Different countries have
5 Pages(1250 words)Essay
Islam and Conventional Economic Systems
An Islamic economic system is one that relies on the principles and guidelines of the Al-Sunnah and Al-Quran. The system discourages gambling and usury. A conventional economic system is based on diverse economic standards of interests. The operational structure is flexible depending on various frameworks.
4 Pages(1000 words)Essay
Let us find you another Essay on topic Comparative Economic Systems for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us