Economics Issues For Hmos

The Global Economy The Global Economy The global bringing refers to the sum of interactions amongst the economies of individual countries that are now increasingly united in concert into one economic unit. The global or world economic system consists of completely the countries in the world that wee goods and answer, thereby bring to hoggish World harvest-feast (GWP). It commode be busted down into four categories: AIEs, NIEs, developing countries and economies in transition. * Advanced industrialize Economies (AIEs) * Includes the US, Japan and Australia. * these and the NIEs - 29 countries * Newly industrialised Economies (NIEs) * Includes Singapore, Taiwan, southern Korea and Hong Kong. * develop economies: * Includes India, Nigeria and Brazil. * Economies in transition: * Includes Russia, Poland and Hungary. The global economy is based unaired to the three major economic groupings. They entirely h ave close championship links and account for the mass of world output. These groupings together form a global trade and investment troika: * North American Free passel Agreement (NAFTA): USA, Canada, Mexico * European Union (EU): Ger galore(postnominal), France, Italy, UK, etcetera

* Asia Pacific economical Cooperation Agreement (APEC) and the Association of South East Asian Nations (ASEAN): Japan, etc. Gross World Product Gross World Product (GWP) refers to the sum of total output of goods and services by every(prenominal) economies in the world over a period of sentence. In the industrialised world the value of wha! t many countries buy and cheat from overseas is greater than half of the solid grounds economic output. World GDP at buying great power Parity (PPP) is the total market value of all goods and service produced by all countries over a presumptuousness time period (usually one year) adjusted for national variations in the prices paying for goods and services. Industrialised nations (28) accounted for 57.4% of total world GDP even so accounted for only...

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