GDP Growth Rate and fluctuations in Singapore

✅ Paper Type: Free Essay	✅ Subject: Economics
✅ Wordcount: 3353 words	✅ Published: 1st Jan 2015

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The Gross Domestic Product (GDP) in Singapore expanded 6.90 percent in the last quarter of 2010 over the previous quarter. From 2007 until 2010, Singapore’s average quarterly GDP Growth was 6.09 percent reaching an historical high of 44.50 percent in March of 2010 and a record low of -18.90 percent in September of 2010. Singapore along with Hong Kong, South Korea and Taiwan is one of the Four Asian Tigers. Singapore has a highly developed and successful free-market economy. It enjoys a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing service sector. This page includes: Singapore GDP Growth Rate chart, historical data and news.

Country

Interest Rate

Growth Rate

Inflation Rate

Jobless Rate

Current Account

Exchange Rate

Singapore

0.02%

6.90%

4.60%

2.10%

18054

1.2900

Date Selection

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Year

Mar

Jun

Sep

Dec

2010

44.50

27.90

-18.90

6.90

2009

-11.00

18.50

11.10

-1.00

2008

17.60

-12.50

-3.00

-9.00

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Global Economics

U.S. GDP Growth Accelerates in the Fourth Quarter

Published: 1/28/2011 2:18:51 PM By: TradingEconomics.com, US Bureau of Economic Analysis

U.S. real gross domestic product increased at an annual rate of 3.2 percent in the fourth quarter of 2010, (that is, from the third quarter to the fourth quarter), according to the “advance” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.6 percent.

Japan’s Unemployment Rate Falls to 4.9% in December

Published: 1/28/2011 11:56:53 AM By: TradingEconomics.com, Statistics Japan

Japan’s unemployment rate unexpectedly fell for the first time since September, indicating that the export-driven recovery is benefiting workers at home.

Japan’s Core Inflation Falls for the 22nd Consecutive Month

Published: 1/28/2011 11:52:41 AM By: TradingEconomics.com, RTT News

Core consumer prices in Japan declined 0.4 percent on year in December, the Ministry of Internal Affairs and Communications said on January 28, falling for the 22nd consecutive month.

Japan’s Trade Surplus More Than Doubles in 2010

Published: 1/27/2011 12:08:54 PM By: TradingEconomics.com, AFP

Japan’s trade surplus more than doubled in 2010 and exports to key trade partner China hit a record high, data showed on January 27 as robust overseas demand indicated gathering momentum for a fragile recovery.

New Zealand Leaves Rates Unchanged

Published: 1/26/2011 8:07:14 PM By: TradingEconomics.com, RBNZ

The Reserve Bank of New Zealand left the Official Cash Rate (OCR) unchanged at 3.0 percent on January 26.

US Federal Reserve Holds Rates Steady

Published: 1/26/2011 7:25:30 PM By: TradingEconomics.com, Federal Reserve

The Federal Reserve’s Open Market Committee on January 26, made no policy changes, holding its key interest rate at historic low range of 0% to 0.25% and continuing on course with its $600 billion program of Treasury purchases.

Canadian Inflation Rises to 2.4% in December

Published: 1/25/2011 2:07:40 PM By: TradingEconomics.com, Statistics Canada

Canadian inflation rose 2.4% in the 12 months to December, following the 2.0% increase posted in November. The 0.4 percentage point gain was mainly a result of higher gasoline prices.

Bank of Japan Keeps Rates Steady

Published: 1/25/2011 12:44:57 PM By: TradingEconomics.com, Bank of Japan

Bank of Japan kept it key interest rate unchanged at virtually zero on January 25, hoping to protect a still-fragile economy from veering off track.

UK GDP Falls 0.5% in the Fourth Quarter

Published: 1/25/2011 11:07:32 AM By: TradingEconomics.com, UK Office for National Statistics

UK Gross Domestic Product decreased by 0.5 per cent in the fourth quarter of 2010, compared with an increase of 0.7 per cent in the previous quarter.

Australian Inflation Rises 2.7% in 2010

Published: 1/25/2011 11:01:18 AM By: TradingEconomics.com, Australian Bureau of Statistics

The ABS Consumer Price Index rose 2.7% through the year to December quarter 2010, compared with a rise of 2.8% through the year to September quarter 2010.

GDP Growth Definition

Economic growth is the increase in value of the goods and services produced by an economy. It is conventionally measured as the percent rate of increase in real gross domestic product, or GDP. Growth is usually calculated in real terms, i.e. inflation-adjusted terms, in order to net out the effect of inflation on the price of the goods and services produced. In economics, “economic growth” or “economic growth theory” typically refers to growth of potential output, i.e., production at “full employment,” which is caused by growth in aggregate demand or observed output.As economic growth is measured as the annual percent change of National Income it has all the advantages and drawbacks of that level variable. But people tend to attach a particular value to the annual percentage change, perhaps since it tells them what happens to their pay check.

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The real GDP per capita of an economy is often used as an indicator of the average standard of living of individuals in that country, and economic growth is therefore often seen as indicating an increase in the average standard of living.However, there are some problems in using growth in GDP per capita to measure general well being.GDP per capita does not provide any information relevant to the distribution of income in a country. GDP per capita does not take into account negative externalities from pollution consequent to economic growth. Thus, the amount of growth may be overstated once we take pollution into account. GDP per capita does not take into account positive externalities that may result from services such as education and health. GDP per capita excludes the value of all the activities that take place outside of the market place (such as cost-free leisure activities like hiking).

Economists are well aware of these deficiencies in GDP, thus, it should always be viewed merely as an indicator and not an absolute scale. Economists have developed mathematical tools to measure inequality, such as the Gini Coefficient. There are also alternate ways of measurement that consider the negative externalities that may result from pollution and resource depletion (see Green Gross Domestic Product.)The flaws of GDP may be important when studying public policy, however, for the purposes of economic growth in the long run it tends to be a very good indicator. There is no other indicator in economics which is as universal or as widely accepted as the GDP.Economic growth is exponential, where the exponent is determined by the PPP annual GDP growth rate. Thus, the differences in the annual growth from country A to country B will multiply up over the years. For example, a growth rate of 5% seems similar to 3%, but over two decades, the first economy would have grown by 165%, the second only by 80% (source: wikipedia).

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Bill Gates is one of the most influential people in the world. He is cofounder of one of the most recognized brands in the computer industry with nearly every desk top computer using at least one software program from Microsoft. According to the Forbes magazine, Bill Gates is the richest man in the world and has held the number one position for many years.

Gates was born and grew up in Seattle, Washington USA. His father, William H. Gates II was a Seattle attorney and his mother, Mary Maxwell Gates was a school teacher and chairperson of the United Way charity. Gates and his two sisters had a comfortable upbringing, with Gates being able to attend the exclusive secondary “Lakeside School”.

Bill Gates started studying at Harvard University in 1973 where he spent time with Paul Allen. Gates and Allen worked on a version of the programming language BASIC, that was the basis for the MITS Altair (the first microcomputer available). He did not go on to graduate from Harvard University as he left in his junior year to start what was to become the largest computer software company in the world; Microsoft Corporation.

Bill Gates and the Microsoft Corporation

“To enable people and businesses throughout the world to realize their full potential.” Microsoft Mission Statement

After dropping out of Harvard Bill Gates and his partner Paul Allen set about revolutionizing the computer industry. Gates believed there should be a computer on every office desk and in every home.

In 1975 the company Micro-soft was formed, which was an abbreviation of microcomputer software. It soon became simply “Microsoft”® and went on to completely change the way people use computers.

Microsoft helped to make the computer easier to use with its developed and purchased software, and made it a commercial success. The success of Microsoft began with the MS-DOS computer operating system that Gates licensed to IBM. Gates also set about protecting the royalties that he could acquire from computer software by aggressively fighting against all forms of software piracy, effectively creating the retail software market that now exists today. This move was quite controversial at the time as it was the freedom of sharing that produced much innovation and advances in the newly forming software industry. But it was this stand against software piracy, that was to be central in the great commercial success that Microsoft went on to achieve.

Bill Gates retired as Microsoft CEO in 2008.

Bill Gates Criticism

With his great success in the computer software industry also came many criticisms. With his ambitious and aggressive business philosophy, Gates or his Microsoft lawyers have been in and out of courtrooms fighting legal battles almost since Microsoft began.

The Microsoft monopoly sets about completely dominating every market it enters through either acquisition, aggressive business tactics or a combination of them. Many of the largest technology companies have fought legally against the actions of Microsoft, including Apple Computer, Netscape, Opera, WordPerfect, and sun Microsystems.

Bill Gates Net Worth

With an estimated wealth of $53 billion in 2006, Bill Gates is the richest man in the world and he should be starting to get used to the number spot as he has been there from the mid-ninties up until now. The famous investor Warren Buffett is gaining on Gates though with an estimated $46 billion in 2006.

Microsoft hasn’t just made Bill Gates very wealthy though. According to the Forbes business magazine in 2004 Paul Allen, Microsoft cofounder was the 5th richest man in the world with an estimated $21 billion. While Bill Gates’ long time friend and Microsoft CEO, Steve Ballmer was the 19th richest man in the world at $12.4 billion.

See more information the Bill Gates Net Worth page.

Bill Gates Philanthropy

Being the richest man in the world has also enabled Gates to create one of the world’s largest charitable foundations. The Bill and Melinda Gates Foundation has an endowment of more than $28 billion, with donations totaling more than $1 billion every year. The foundation was formed in 2000 after merging the “Gates Learning Foundation” and “William H. Gates Foundation”. Their aim is to “bring innovations in health and learning to the global community”.

Bill Gates continues to play a very active role in the workings of the Microsoft Company, but has handed the position of CEO over to Steve Ballmer. Gates now holds the positions of “Chairman” and “Chief Software Architect”. He has started that he plans to take on fewer responsibilities at Microsoft and will eventually devote all his time to the Bill & Melinda Gates Foundation.

In 2006, the second richest man in the world, Warren Buffett pledged to give much of his vast fortune to the Bill and Melinda Gates Foundation.

Bill Gates Receives a KBE

In March 2005 William H. Gates received an “honorary” knighthood from the queen of England. Gates was bestowed with the KBE Order (Knight Commander of the Most Excellent Order of the British Empire) for his services in reducing poverty and improving health in the developing countries of the world.

After the privately held ceremony in Buckingham Palace with Her Majesty Queen Elizabeth II, Gates commented on the recognition..

“I am humbled and delighted. I am particularly pleased that this honor helps recognize the real heroes our foundation (Bill and Melinda Gates Foundation) supports to improve health in poor countries. Their incredible work is helping ensure that one day all people, no matter where they are born, will have the same opportunity for a healthy life, and I’m grateful to share this honor with them.”

The KBE Order of the British Empire is the second highest Order given out, but it is only an honorary knighthood as only citizens that are British or a part of the Commonwealth receive the full Order. This means that Gates does not become Sir Bill Gates.

Bill Gates lives near Lake Washington with his wife Melinda French Gates and their three children. Interests of Gates include reading, golf and playing bridge.

This Bill Gates biography may not be reproduced online.

Bill Gates Quotes

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This article is outdated. Please update this article to reflect recent events or newly available information. Please see the talk page for more information. (November 2010)

Rice fields in Tongshan County, Hubei

Rice production in China is an important part of the national economy[1]

China is the world’s largest producer of rice, and the crop makes up a little less than half of the country’s total grain output. China accounts for 26% of all world rice production. In a given year total rice output came from four different crops. The early rice crop grows primarily in provinces along the Chang Jiang and in provinces in the south; it is planted in February to April and harvested in June and July and contributes about 34 percent to total rice output.[1] Intermediate and single-crop late rice grows in the southwest and along the Chang Jiang; it is planted in March to June and harvested in October and November and also contributed about 34 percent to total rice output in the 1980s. Double-crop late rice, planted after the early crop is reaped, is harvested in October to November and adds about 25 percent to total rice production. Rice grown in the north is planted from April to June and harvested from September to October; it contributes about 7 percent to total production.[1]

All rice cultivation is highly labor intensive. Rice is generally grown as a wetland crop in fields flooded to supply water during the growing season.[1] Transplanting seedlings requires many hours of labor, as does harvesting. Mechanization of rice cultivation is only minimally advanced. Rice cultivation also demands more of other inputs, such as fertilizer, than most other crops.

Paddy field in south-western China in Yunnan

Rice is highly prized by consumers as a food grain, especially in south China, and per capita consumption has risen through the years. Also, as incomes have risen, consumers have preferred to eat more rice and less potatoes, corn, sorghum, and millet. Large production increases in the early 1980s and poor local transportation systems combined to induce farmers to feed large quantities of lower quality rice to livestock.[1]

Wikimedia Commons has media related to: Paddy fields in China

[edit] References

This article incorporates public domain material from websites or documents of the Library of Congress Country Studies.

^ a b c d e “China: A Country Study:Crops”. Library of Congress, Washington D.C.. July 1987. http://lcweb2.loc.gov/cgi-bin/query/r?frd/cstdy:@field(DOCID+cn0190). Retrieved March 21, 2009.

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