Economy of the Wechua Nation: Difference between revisions
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The '''economy of the Wechua Nation''' previously known for a historic pattern of a single-commodity focus, | The '''economy of the Wechua Nation''' previously known for a historic pattern of a single-commodity focus, that experienced a successful period of economic diversification and growth until the events after the [[Wechua Spring]] that led to national collapse. The GDP of the [[Wechua Nation]] in the year 1664 was $78.351 billion [[Wechu Sol | Sols]], it is currently unknown what the GDP of the country is. | ||
Political instability and difficult topography have constrained efforts to modernize the country, especially its agricultural sector. Similarly, relatively low population growth coupled with low life expectancy and high incidence of disease has kept the labor supply in flux and prevented industries from flourishing. Rampant inflation and corruption also have thwarted development, but in the mid-1660's the fundamentals of its economy showed unexpected improvement, largely credited to the country's accession to the Raspur Pact. The mining industry, especially the extraction of natural gas and zinc, currently dominates the Wechua Nation's export economy. | Political instability and difficult topography have constrained efforts to modernize the country, especially its agricultural sector. Similarly, relatively low population growth coupled with low life expectancy and high incidence of disease has kept the labor supply in flux and prevented industries from flourishing. Rampant inflation and corruption also have thwarted development, but in the mid-1660's the fundamentals of its economy showed unexpected improvement, largely credited to the country's accession to the Raspur Pact. The mining industry, especially the extraction of natural gas and zinc, currently dominates the Wechua Nation's export economy. | ||
Between 1659 and 1664, GDP per capita is doubled and the extreme poverty passed from 38 to 18%. | Between 1659 and 1664, GDP per capita is doubled and the extreme poverty passed from 38 to 18%. | ||
==Overview== | ==Overview== | ||
Revision as of 23:28, 18 June 2019
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| Currency: | the Wechua Sol ($) |
| GDP: | $78.351 billion Sols (1664) |
| GDP by Sector: | agriculture: 13.6%; industry: 38.1%; services: 52.0% (1662 est.) |
| Marketplace | |
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| Industries: | mining, smelting, natural gas, food and beverages, tobacco, handicrafts, clothing, jewelry |
| Major Industry (% of GDP): | |
| Largest Company (Value): | General Company of Parap (TBD %) |
| Labour Force (% of Total Population): | TBD (TBD %) |
| Labour Force by Sector: |
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| Unemployed (% of Total Population): | ▼ 5.7% (1664 est.) note: data are for urban areas; widespread underemployment. |
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| Budget: | TBD $ |
| Budget Surplus or Deficit: | TBD $ |
| Inflation Rate: | |
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| Exports: | Things. |
| Export Partners: | Caputia, Shireroth, Natopia, Xang Muang |
| Imports: | Things. |
| Import Partners: | Caputia, Shireroth, Stormark, Natopia |
| Reserves of Foreign Currency: | |
The economy of the Wechua Nation previously known for a historic pattern of a single-commodity focus, that experienced a successful period of economic diversification and growth until the events after the Wechua Spring that led to national collapse. The GDP of the Wechua Nation in the year 1664 was $78.351 billion Sols, it is currently unknown what the GDP of the country is.
Political instability and difficult topography have constrained efforts to modernize the country, especially its agricultural sector. Similarly, relatively low population growth coupled with low life expectancy and high incidence of disease has kept the labor supply in flux and prevented industries from flourishing. Rampant inflation and corruption also have thwarted development, but in the mid-1660's the fundamentals of its economy showed unexpected improvement, largely credited to the country's accession to the Raspur Pact. The mining industry, especially the extraction of natural gas and zinc, currently dominates the Wechua Nation's export economy.
Between 1659 and 1664, GDP per capita is doubled and the extreme poverty passed from 38 to 18%.
Overview
History
The Wechua economy has experienced crippling inflation for decades, at some point before its formal recognition at the MCS, experiencing a rate of inflation that reached over 20,000% (1638). In 1660, the government underwent fiscal and monetary reform that reduced the inflation rate to single digits by 1664, when the Wechua Nation experienced a manageable 4.9%. The reforms implemented a far-reaching program of macroeconomic stabilization and structural reform aimed at maintaining price stability, creating conditions for sustained growth, and alleviating poverty.
The most important structural changes in the Wechua economy involved the capitalization of numerous public sector enterprises. Capitalization in the Wechua context is a form of privatization where investors acquire a 50% share and management control of public enterprises by agreeing to invest directly into the enterprise over several years, rather than paying cash to the government. A major reform of the customs service significantly improved transparency and reduced corruption significantly. Additional trade links such as roads and railways that linked the country to Caputia built during 1660-1664 further expanded commerce between the two neighbors.
The Wechua Spring brought renewed social and political tension that culminated with structural reforms that have expanded individual liberties, opened the Wechua economy, and greater political involvement by the people.
The country's accession to the Raspur Pact and the benefits of its free trade market, coupled with parallel legislative reforms have locked into place market-oriented policies, that have led to growth and more private investment, especially in the hydrocarbon and telecommunication sectors. Foreign investors are accorded national treatment, and foreign ownership of companies enjoys virtually no restrictions in the Wechua Nation. While the capitalization program was successful in vastly boosting foreign direct investment, the country has began to experience reduced foreign direct investment as investors begin to complete their capitalization contract obligations.
Data
Central Bank of the Wechua Nation
Key Industries
Trade Agreements
Political Issues
See: the Government and politics of the Wechua Nation.
See: the Wechua Spring.
