MAE 102 Global Economic Essay Example | Topics and Well Written Essays - 1500 words

MAE 102 Global Economic - Essay Example Information will be get from the following informational source http://data.worldbank.org/indicator. Question 1 First of all, we are going to consider such important economic indicator as GDP. This indicator for all the mentioned countries is provided in the table below. ... However, the gap between the degrees of GDP of both countries is quite high. The common feature between both countries is that they both suffered the global financial crisis quite well. Spain and Australia are almost similar in the terms of GDP. The last country in this group is Zimbabwe. In fact, it is an obvious fact, taking into account the recent economic problems in this country, about which we will say a few word below. Question 2 In order to evaluate the degree of social and economic development of a country it is important to evaluate not only an absolute level of GDP, but also such indicator as GDP per capita. This indicator for all the countries is provided below. Country Name Australia Brazil China Spain Zimbabwe 1998 21 364,21 4 980,99 820,86 15 126,43 522,11 1999 20 578,83 3 413,26 864,73 15 475,52 552,83 2000 21 708,04 3 696,15 949,18 14 413,79 534,79 2001 19 541,42 3 129,76 1 041,64 14 952,09 538,96 2002 20 100,99 2 812,33 1 135,45 16 611,71 503,03 2003 23 445,60 3 041 ,68 1 273,64 21 041,54 454,10 2004 30 375,83 3 609,88 1 490,38 24 468,75 460,84 2005 33 944,98 4 743,27 1 731,13 26 056,39 457,83 2006 35 986,07 5 793,40 2 069,34 28 024,75 434,48 2007 40 461,07 7 197,03 2 651,26 32 118,10 423,99 2008 49 232,97 8 628,95 3 413,59 34 977,39 354,63 2009 42 333,45 8 391,67 3 749,27 31 714,24 491,68 2010 51 628,60 10 992,94 4 433,36 29 956,16 591,29 2011 61 789,48 12 593,89 5 444,79 31 984,73 757,09 This table proposes the different picture. China now occupies the second place from the end, while Australia can be considered as the most economically developed country. In any case, the degree of well-being of its citizens is much higher than the same indicator of Chinese people. The main reason for it is of course the fact