The Economy of Liberia and the United States - Essay Example

In fact, even African slaves from other parts of Africa were also sent here instead of their place of origin. Until today, Liberia is assisted by the U.S. as evidenced by the fact that “ The U.S. Agency for International Development (USAID) implements the U.S. Government's development assistance program in Liberia, the second-largest USAID development program in Africa” (Liberia, state.gov).

The economy of Liberia. The GDP of Liberia according to the 2008 estimate totals $1.471 billion or $379.9 per capita ( IMF, 2009). On the other hand, the U.S. has a GDP of “ $14,461.7 billion in the last quarter of 2009” ( bea.gov.) posting a 6.3% increase in GDP. On the contrary, Liberia’s GDP growth rate is as of 2009 was projected at 1.2% ( U.S. Dept. of State, 2010). Liberia’s economy is basically agricultural although it has sizeable resources of iron ore and rubber. In fact, rubber is one of its biggest exports which is followed by timber ( Bateman, et.al, 2000).

Liberia has good prospects for advancement when it comes to technology. In 2007, Liberia’s president, Ellen Johnson-Sirleaf unveiled the new National and Communication Technologies Policy for Liberia at a conference in its capital, Monrovia. The said convention was sponsored by big names in the ICT industry such as Microsoft, Cisco, and Georgia Institute of Technology that sponsored the two national facilities: a community-based PC laboratory and a multi-media laboratory ( Webwire,2007). Analyzing this event, Liberia is heavily dependent on foreign investment and aid from the U.S. While Liberia is continuously developing ICT, the U.S. is in the wake of finding solutions to curb its greenhouse gas emissions. Its technological development is now geared towards finding more “environment-friendly” sources of energy similar to the thrust of the United Kingdom. In fact, one of the U.S. hottest pursuits now is searching for bio-fuels for a cleaner future as reported ( Pellerin,2010 ). The report stated that one of Obama’s main goals is to: “(create)a new interagency task force to advance the technology for capturing and storing carbon dioxide (CO2) emissions from coal-burning power plants.”( Boosting Fuels, America. gov,2010).

In conclusion, Liberia is an African country that has special relationship with the United States ever since its founding as a nation. Its early founders have freed slaves from the U.S. Until today, the United States supports the government programs of Liberia not only through economic aid but also through technological advancement. Liberia on the other hand imports heavily from the U.S. Nevertheless, the two would not be on equal footing since Liberia is dependent on the U.S. In a way, these circumstances make both countries have better prospects for the future. Read More