Sunday, April 29, 2012

Pietra Rivoli’s book (Ch5-8) Part II



Review the Part II of Rivoli’s book (Ch5-8) before addressing the following questions.

1). What does the history of the location of the textile industry illustrate about global economies?

The histories of the locations play a huge part in the global economies because of the different locations, it allows trades. With each country at a different location, they each have their own economy and this link to exports and imports within that country. Examples of places with certain goods such as “by the mid-1930s Japan would have approximately 40 percent of the world’s export of cotton goods.” “By the 1970s, Hong Kong was the world’s largest exporter of clothing, with manufacturing base designs for the low end of the Western apparel markets.” The locations shape the global economies.

2). Industrialization brings both positive and negative consequences. How do you view these trade-offs. Use specific examples from the text to support your view.

Industrialization on positive consequences in that with globalization the world is able to trade with each other and have share the amount of goods. Although with the benefits of industrialization, migrant workers and people involved with the process have to live in poor conditions and work long hours to produce the goods. They also earn low amount of wages. Although there have been regulations and policies to help these workers, it is still not enough. An example of a policy is “in the US, the Occupational Safety and Health Administration was formed in 1970 and today is advising an analogous body that is developing in China.” I feel that one way to help these poorer countries is to also develop their environment and living area to a higher standard and in even if they are receiving lower wages at least they can live comfortably. This can also give the worker an incentive to want to work. This trade-off between both negative and positive consequences, overall I feel that they balanced each other out because without these workers there will be no goods and the economies will not so well off. This tradeoff is similar to what the author says, “As much as the CEOs would like to silence the activists and activists would like to silence the corporations, the fact is that the two sided need each other…” Both the negative and positive tradeoff needs each other in order for production to work.

3). Choose one passage from this section of book that you found particularly informative. Explain why it was interesting.

There are many passages that are interesting but one of the passages that I thought is informative and interesting is:

“Chi-Ying, a young single woman from Hubei, was interviewed by Lee. Though Chi-Ying makes seven to eight times as much money at the factory as her father does at home, money is not at the top of her list of reasons for leaving the village for the factory. Chi-Ying has delayed marriage and ultimately decided against the husband her parents had chosen for her. With her wages, she repaid the young man for the gifts he had given her parents. In the city, she feels modern,, free, and young. She likes buying a pair of cheap earrings with her own money, seeing a movie or visiting the shopping mall. Chi-Ying compares herself to her mother and grandmother, and the striking differences seem to her to not income but horizons. Mom and Grandma never had their own jobs, or their own money. They never saw a paved road.” (p. 113).

I found this passage interesting because we can be aware of china’s situation and look at a personal story of Chi-Ying. I feel that since the world is becoming globalized and changing, the different generation is experiencing different lives than their parent and the families are no longer living traditional lifestyles. Chi-Ying mentions both her mother and grandmother never had a job or money of their own, this makes her feel as if she had more opportunity and advantage growing up in the time era because she have freedom and could live in a world where she can buy cheap goods and enjoy her life. This passage can also make us think about other countries as well and how globalization shapes the lives of workers.

Works Cited
Rivoli, Pietra. The travels of a t-shirt in the global economy: an economist examines the markets, power and politics of world trade. Hoboken, N.J.: John Wiley & Sons, 2005. Print.

Wednesday, April 25, 2012

Richard Florida


The World is Spiky

http://creativeclass.com/rfcgdb/articles/other-2005-The%20World%20is%20Spiky.pdf

1). How does the author see globalization?

Richard Florida has positive views of globalization in that country such as London, New York, Paris, Tokyo, Hong Kong, Singapore, Chicago, Los Angeles, and San Francisco are strongly connected to one another even if they are far from each other. Globalization is effective if talented and creative people are able to combine ideas even if they are far from each other therefore, they tend to live closer to one another. Richard also talks about the backslash of globalization. For example the French voted no to suburban and rural headquarter. China and India are growing and developing in rural areas in which they are not suppose to and this create a problem when we see cluster of people in one area or “tribe”.

2). How does this relate to central place theory?

This article relates to the central place theory because of the clustering of the population in one area they often build connections with another area for business purposes. Trading and economic interactions are quite important especially for regional metropolis and national metropolis areas. The article states that there is a clustering of people in one specific area due to that “population density is of course a crude indicator of human and economic activity.” In map A we can clearly see the urban areas and see where most people lived.

3). For your foreign travel plans, locate your city within the hierarchy of central places. Provided examples of nearby places that would be lower or higher on the hierarchy.

Location: Beijing, China

Beijing is a national metropolis on the hierarchy of places due to its massive population and how much the city can offer when it comes to services and city size. Beijing is the second largest city by population. Beijing has 16 districts and a international airport. It is very developed and has a good economy. Beijing has a lot of historic sites, museums, and sightseeing places for tourism.

Nearby places for examples:

Small City: Ping Xiang: In Guangxi

It has a railway to Hanoi, Vietnam, 4 towns. It has about 100,000 people and is considered to be “country-level city.”

Regional city: Li Jiang, Yunnan

It has an airport and many transportations services to Kunming along with historical sites.

Regional metropolis: Hang Zhou

It has Jewish and Muslim communities, many districts and also a stabilized economy in textiles, agriculture and more.

Work Cited:


Found the information of examples on Wikipedia because it was difficult to find information about each of the location in China

Sunday, April 22, 2012

Transportation Industries

For your country, (China) research and briefly discuss each of the following items.

1). Water transportation
Closest major ocean ports (post panama capable)
Other ports

http://www.travelchinaguide.com/essential/water-transport.htm

- 2005: there are navigable inland waterways especially in the four provinces of Jiangsu, Guangdong, Hunan and Sichuan.

- The largest five waterways: Beijing-Hangzhou Grand Canal and the Qinhuai River; Yangtze River, Xijiang River as well as the Amur River (Heilongjiang) and Songhua River.

- 2006: There were over 150 coastal harbours and 23 major inland waterway ports like Zhangjiagang, Shenzhen, Zhanjiang, Dalian, Qinhuangdao, Tianjin, Yantai, Qingdao, Nanjing, Shanghai, Xiamen, Zhuhai, Huangpu and so on.

- “Shanghai (famous international shipping center) is the largest coastal harbor in China and the third-largest in the world, while Nanjing port, with the largest shipping capacity, is the largest among all the inland Chinese ports.”

http://en.wikipedia.org/wiki/Transport_in_China

- “China has more than 2,000 ports, 130 of which are open to foreign ships. The major ports, including river ports accessible by ocean-going ships, are Beihai,Dalian, Dandong, Fuzhou, Guangzhou, Haikou, Hankou, Huangpu, Jiujiang, Lianyungang, Nanjing, Nantong, Ningbo, Qingdao, Qinhuangdao, Rizhao, Sanya,Shanghai, Shantou, Shenzhen, Tianjin, Weihai, Wenzhou, Xiamen, Xingang, Yangzhou, Yantai, and Zhanjiang.”

- “2003: these inland waterways carried nearly 1.6 trillion tons of freight and 6.3 trillion passenger/kilometers to more than 5,100 inland ports”


2). Land transportation
Railroad freight
Railroad passenger
Hiway and road network

http://en.wikipedia.org/wiki/Transport_in_China

- Rail is the major mode of transport

- China has the world's second largest rail network

- “2003: China’s railways carried 2.2 trillion tons of freight and 478.9 trillion passenger/kilometers.”

- “Foreign capital investment in the freight sector was allowed beginning in 2003, and international public stock offerings opened in 2006. In another move to better capitalize and reform the rail system, the Ministry of Railways established three public shareholder-owned companies in 2003: China Railways Container Transport Company, China Railway Special Cargo Service Company, and China Railways Parcel Express Company.”

- “The high speed service is mainly operated by China Railway High-speed. Lines capable for 300+ km/h running include:”

- Beijing–Tianjin Line, 117 km long
- Wuhan–Guangzhou Line, 968 km long
- Zhengzhou–Xi'an Line, 457 km long
- Shanghai–Nanjing Line, 301 km long
- Shanghai–Hangzhou Line, 160 km long

- Currently there are 12 rapid transit systems in mainland China.

- “Beijing Subway, which opened in 1969, currently has 15 lines, 218 stations and 372 km of subway track and will grow to about 1,000 km by 2020.”

- “The Tianjin Metro was begun in 1970 as a planned network of 153.9 km on seven lines, the current existing system contains 2 lines and 26.18 km of track with 22 stations.”

- “Shanghai Metro, which opened in 1995, as of end of 2010 has twelve lines, 233 stations, and 420 km of track in operation, making it the longest metro system in the world. Further expansion plans call for a network of 887 km of track.”

- “The Guangzhou Metro, which opened in 1997 has five lines (as of 2010), 144 stations and has 236 km with an additional 400 km planned to be completed by 2020”

- “The Shenzhen Metro opened in 2004, initially with two lines, 19 stations, and 21.8 km of track, after 2010 it had over 70 km, by June 2011 it has expanded to 177 km of operational metro.”

- Network of roads: (China National Highways) and expressways (Expressways of China).

- 2005: “China had a total road network of more than 3.3 million km, although approximately 1.47 million km of this network are classified as "village roads"

- “The highway and road systems carried nearly 11.6 billion tons of freight and 769.6 trillion passenger/kilometers in 2003.”

- “Highways and motor vehicles, which carry 13.5% of cargo and 49.1% of passengers”

3). Air transportation
International airports
Other airports

http://www.prnewswire.com/news-releases/china-air-transport-and-airport-industry-report-2010-2011-124764858.html

- “China Southern Airlines, China Eastern Airlines and Air China International ranked top 3, with average monthly passenger traffic of 5,814,800, 4,926,500 and 4,350,700 and fleet scale of 422 aircrafts, 348 aircrafts and 393 aircrafts separately.”

- “China Southern Airlines: It has the most aircrafts and annual passenger traffic in China aviation industry. In 2010, its passenger traffic ranked first in Asia and third in the world.”

- “China Eastern Airlines: Coupled with the driving force of Shanghai World Expo, the transportation revenue gained by China Eastern Airlines in 2010 grew by 81.49% to RMB68.47 billion. However, in Q1 2011, the transportation revenue only grew by 16.63% year on year.”

- “Air China International: It has the most assets and traffic in China aviation industry. In 2010, it achieved net profit of RMB12.208 billion, up 142.75% year on year; in Q1 2011, it achieved net profit of RMB1.671 billion, down 23.04% year on year.”

- “The passenger throughput reached 564,312,000, up 16.1%, cargo and mail throughput was 11.29 million tons, up 19.4%”

- “Chinese airports are divided into three categories: first, three hub airports, including Beijing Capital International Airport, Shanghai Pudong Airport and Guangzhou Baiyun Airport; second, 17 major airports in Chengdu, Kunming, Xi'an, Urumqi, Wuhan and other cities; third, other types of airports.”

- “In 2010, the number of airports in China increased. The passenger throughput of three hub airports accounted for 27.6% of the total throughput, declining slightly. The passenger throughput of Beijing Capital International Airport accounted for the highest 13.1%, while Guangzhou Baiyun Airport 7.3 % and Shanghai Pudong Airport 7.2%.”

http://en.wikipedia.org/wiki/Transport_in_China

- “In 2007 China has 467 airports. Of China's major airports, Beijing Capital International Airport (PEK), located 27 km northeast of central Beijing, has the greatest flow of passengers annually.”

- “Other major airports are located at Chengdu, Chongqing, Dalian, Hangzhou, Harbin, Hohhot, Kunming, Qingdao, Shenyang, Tianjin, Urumqi, Xiamen, and Xi’an.”

Overall China is such a big country that its economy is growly quickly. With its hiway and road system, waterway, air transportation and ports, China can transport goods and passage easily. Also due to globalization, China has been able to ship things at a low price to different destinations and increase their exports to increase their GDP. It is an amazing how much airports and how much ports China have as a big country. I was shocked to find out that how many ways there is to transport goods. Until doing this research I also found that transportation is very important and a big part of the economy because distributing goods and trading is a part of the national income (GDP) and also it allows other countries to have goods that the other country have. For example most of our goods in the US are made in China or come from China and this allows us as customers to have the same or similar goods that Chinese people have in their country.

Work Cited:


Thursday, April 19, 2012

Marc Levinson

Chapter One of the Box: How the Shipping Container Made the World Smaller and the World Economy Bigger by Marc Levinson,

Available online at http://press.princeton.edu/chapters/s9383.html

1). Identify a selection from this chapter that you found particularly interesting and explain why you selected it.

Marc Levinson’s article is very interesting in that it made me think about how transporting good can affect the economy. I never really pay attention to where we get certain products and how did a product travel half way across the country. I thought that transporting goods is interesting in that “A 35-ton container of coffeemakers can leave a factory in Malaysia, loaded aboard a ship, and cover the 9000 miles to LA in 16 days.” This made me think about how the world has change so much over time and how globalized the world have become. Trades has always been a fascinating topic for me because imports and exports are interesting to see where and how much of a product is and how everyone can have the product even though it is not from the same place they lived in. Another thing that I found to be interesting is that when products and goods are loaded onto a large truck, it get shipped to its next destination not allowing anyone to see or touch the goods and this is interesting because “containers can be just as efficient for smuggling undeclared merchandise, illegal drugs, undocumented immigrants and terrorist bombs as for moving legitimate cargo” and no one will know. This makes me wonder if the black markets also work this way when it comes to shipping their goods.

2). How does the author see the development of the shipping container contributing to globalization?

The development of the shipping container contributes to globalization because they allow the world to trade goods shipping from one country to another easily. These containers also save time and is quickly handled. “The containers are at the core of highly automated system for moving goods from anywhere, to anywhere, with a minimum of cost and complication on the way.” The containers allow consumers from different country to have access to the goods and this makes the world more globalized.

3).What short run impact did this innovation have on national income and employment? What would the long-run impact be? Explain.


In a short run impact, it can increase the GDP because if net export increase then it will cause the consumption, investment and government to also increase. On the supply and demand graph it will affect the supply line causing an increase in supply shifting the curve to right. This will cause a decrease in prices and increase in quantities. 


GDP ↑ = C + I + G + NX↑






In a long run impact, there will be a little increase in resources because of the amount of good flowing into the country. However, the shipping containers do not really impact labor or natural resources. Although in capital, it will increase money supply and help the economy in a long run.


Work Cited

Levinson, Marc. "The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger." Princeton University Press. N.p., n.d. Web. 19 Apr. 2012. <press.princeton.edu/chapters/s9383.html>.

Thursday, April 12, 2012

Pietra Rivoli Book



The Travels of a T-shirt in the Global Economy

Pirtra Rivoli

Chapter 1-4


1.) How do the markets Rivoli discusses differ from an idealized, pure market theory?

The market that Rivoli discusses in chapter 4 is quite different from the pure market theory in that the ways how farmers sold their cotton was a simple test of grabbing a handful of cotton. The buyer sets a price and the seller agree because they did not want to risk it incase no one buys it. They did it for survival and the urge to provide for their families. There wasn’t any legal system at first but after a while a system was develop and it made it easier for farmers to sell their cotton through PCCA’s marketing pool which worked quite well for farmers.

2.) Choose one specific example of culture interacting with economics from these chapters.

Cultures definitely interact with economies in ways that cultures play a role in the production of goods and services. One example the book talks about is the comparison between different country and their way of producing cotton. Competition was mention in that China and India could have been a head in this market but because of the lack of education and technology, the United States was producing so much more. Another comparison was to West Africa and how US produced 400 times more than Africa. (p. 62).

3.) What surprises you in this section of the book?

This book overall, has been really interesting to read. There are many shocking things within the first four chapters. I have never really thought about where t-shirts came from or about the cotton industry. Most of the facts in the book were surprising to me because when we think of markets we tend to think of the end products (results), and the sales but never the process of how a good is made, produced and shipped. This book definitely opens my eyes and made me more interest in economics. One interesting thing how the cotton industry is a very important industry but we never really think about it after the end of slavery and plantations. The cotton industry not only contributed to making t-shirts, clothing but also to chips making industry and many more products such as toothbrushes, ball point pen, hotdogs, and much more. (p. 54).



Work Cited

Rivoli, Pietra. The travels of a t-shirt in the global economy: an economist examines the markets, power and politics of world trade. Hoboken, N.J.: John Wiley & Sons, 2005. Print.

Monday, April 9, 2012

China: Inflation


China: Economic Issue Inflation


For your country, find a recent news article discussing an economic problem or issue.

1) Summarize the issue. Include a link.

http://www.nytimes.com/2012/04/10/business/global/food-prices-push-rate-of-inflation-up-in-china.html?_r=1



- One of the main problems in china is inflation due to the prices of food.

- Inflation increases as the costs for raw materials rises.

- Mainly is a problem to Chinese family because it is where most of their household income money goes towards.

- Prices increase due to the weather conditions.

- Spring onion and cabbage are one example in which the prices has increase.



2) Relate the issue to one or more of the economic concepts we have discussed in class.

The main issue involves inflation. One of the graphs that can show this issue is to look at the supply curve. This will affect the supply curve and shift it to the right. As a result it causes the food prices to increase and a decrease in quantity.





3) Can you suggest a resolution to this problem? Are there policies that could improve the situation?

Beijing policy makers are still currently coming up with policies. I think a resolution to this problem is to wait it out because due to the weather, it’s hard for the agriculture sector to produce enough goods. Inflation is not necessary bad for the economy. Although one of the things I was thinking about was coming up with different substitute for specific food items to help customers to be able to afford food.


Work Cited

WASSENER, BETTINA. "Food Prices Push Rate of Inflation Up in China - NYTimes.com." NY Times Advertisement. N.p., n.d. Web. 9 Apr. 2012. <http://www.nytimes.com/2012/04/10/business/global/food-prices-push-rate-of-inflation-up-in-china.html?_r=2>.

Thursday, April 5, 2012

Milton Friedman



Milton Friedman

The Social Responsibility of Business is to Increase its profits

http://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html

1) Identify Friedman’s major themes and key points

- Friedman talks about the concept of social responsibility which basically is that people would leave their jobs to “join their country’s armed forces

- Corporate executive being in charge of the business and take responsibilities for making as much profits as there can be

- Although if the corporate executive decides to take up social responsibilities, “he is acting as a principal, not an agent; he is spending his own money or time or energy, not the money of his employers or the time or energy he has contracted to devote to their purposes. If these are "social responsibili­ties," they are the social responsibilities of in­dividuals, not of business.”

- Raise of political questions such as principle and consequences

- Principle: taxes are imposed so far as possible in ac­cordance with the preferences and desires of the public

- Consequences: A person cannot get away from the problem and that there is a line drawn from what is fair and what belongs to who.

- Unanimity: “ideal free market resting on private property, no individual can coerce any other, all coopera­tion is voluntary, all parties to such coopera­tion benefit or they need not participate. No values, no "social" responsibilities in any sense other than the shared values and responsibilities of individuals. Society is a collection of individuals and of the various groups they voluntarily form.”

- Conformity: “indi­vidual must serve a more general social inter­est–whether that be determined by a church or a dictator or a majority. The individual may have a vote and say in what is to be done, but if he is overruled, he must conform. It is appropriate for some to require others to contribute to a general social purpose whether they wish to or not.”

- Social responsibility: “it forces people to be responsible for their own actions and makes it difficult for them to "exploit" other people for either selfish or unselfish purposes. They can do good–but only at their own expense.”



2) What cultural values are most important to Friedman?

Cultural values that are important are they can be linked to social responsibility. For example, a person who wants to open a hospital would do so, just because he wants to serve the people rather than earn profits. Friedman thinks that the most important cultural values would be in between individualism and collectivism because people view social responsibility differently in that business man. Business man thinks that “ they are defending free en­terprise when they declaim that business is not concerned "merely" with profit but also with promoting desirable "social" ends; that business has a "social conscience" and takes seriously its responsibilities for providing em­ployment, eliminating discrimination, avoid­ing pollution and whatever else may be the catchwords of the contemporary crop of re­formers.” Friedman feels that a corporate execute job mainly is to benefit for its business but if the corporate execute decides to follow their own interest and do something independently then this might affect the economy and the company.



3) Do you personally see a conflict between business and social responsibility?

Yes, I personally see a conflict in between business and social responsibility because social responsibility is often related to self interest therefore it does not benefit the economy as much as someone who is willingly to contribute to the society by accepting any job offers, where as business is not about who doing what job and are people happy with their jobs but is the labor force being productive and is goods being made and sold. Social responsibility is about contributing and giving to the community but business and about earning as much profits and it’s hard to do business if social responsibility is involved.


Work Cited


WASSENER, BETTINA. "Food Prices Push Rate of Inflation Up in China - NYTimes.com." NY Times Advertisement. N.p., n.d. Web. 5 Apr. 2012. <http://www.nytimes.com/2012/04/10/business/global/food-prices-push-rate-of-inflation-up-in-china.html?_r=2>.

Tuesday, April 3, 2012

Richard Shweder's Talk


Richard Shweder's talk on 4-2-2012

1)   Identify Richard Shweder’s major themes and key points?

-       Shweder started out talking about robust cultural pluralism and the three prophecies that shaped society. 
-       Prophecies 1: view of globalization (Francis)
-       “Witnessing the end of history, the end point of man kind ideological evolution, the universalization of western democracy as the final form of human government” (new world replacing old world)
-       Civilization project: universal ideal civilization
-        US everyone is hyphenated, American way of life should be universalize because US is the Best and is the only civilization
-       David miller (left) talking about people attachment to their own community
-       “Nation stretch backward and their origins are lost, various event have occur…community of obligation, we are born into it have a obligation.”
-       Roger (philosopher of right) “since enlightenment it is normal for European to think of society as a contract, implies that social membership is free choice and 2nd all member of society is currently living, care of the dead and unborn goes hand in hand.”
-       Prophecies 2:free trade and globalization
-       Ex: trade where people lived in different lands and made goods that the other island liked. Meeting at the borders and have the goods go? No one questions about how the good is made?
-       Eventually leading into investment and legal systems
-       Civic Jewish community came to US after WW2, settle in Brooklyn, (Jo L), reproducing life in 18 century Hungary in New York, created school system lead to issues of violation of separation of church and state
-       Prophecies 3: people in course of human history the modern nation state is more likely to be an acceptation
-       People lived in empire, return to a global empire, have better features of ottoman empire
-       Ex: 22 different people, weak central state collected taxes and prevent others from getting into other’s territory. Given local control.
-       Was no standard family life
-       Jews: kick out of Spain and Portugal in 1492 found empire welcoming, protected and given local control
-       World system: pushing toward a cosmetician elite, run world system come from different backgrounds. Allow local control. Have exit visa.

2)   What kinds of indicators would help you to predict the direction of global change?
-       Equality versus diversity where one country can never have both because it will be like a utopian idea
-       Modern technology: TV cellphone brought into India (Hindu national movement started because of TV)
-       Civilization project: critiquing that we remove barbaric society and moving toward universal ideal civilization  


3)   How important is culture in shaping economic outcomes? Give some specific examples.
-       Culture is important in that it can create a society of people to have a common way of living
-       Ex: 18th century Hungary life in New York
-       Richard’s example was the story of trade in prophecies 2
Different culture can trade with each other without questioning where the goods came from
-       Thomas McCally: education system turning Indians into Englishman





Sunday, April 1, 2012

Resources. Trade and National Income



China


Resources:

China has natural resources such as

Coal, iron ore, petroleum, natural gas, mercury, tin, tungsten, antimony, manganese, molybdenum, vanadium, magnetite, aluminum, lead, zinc, uranium, hydropower potential (world's largest).

Labor force: 815.3 million (2010 est.)

International trade:

China’s exports partners includes:

US 17.7%, Hong Kong 14.1%, Japan 7.8%, South Korea 4.4%, Germany 4% (2011 est.)

Exports:

$1.898 trillion (2011 est.)

country comparison to the world: 1

$1.578 trillion (2010 est.)

Exports - commodities:
electrical and other machinery, including data processing equipment, apparel, textiles, iron and steel, optical and medical equipment

China’s Imports partner includes:
Japan 11.2%, South Korea 9.3%, US 7%, Germany 5.3%, Australia 4.7% (2011 est.)

Imports:

$1.743 trillion (2011 est.)
country comparison to the world: 3
$1.327 trillion (2010 est.)

Imports - commodities:
electrical and other machinery, oil and mineral fuels, optical and medical equipment, metal ores, plastics, organic chemicals

Reserves of foreign exchange and gold:
$3.236 trillion (31 December 2011 est.)
country comparison to the world: 1
$2.895 trillion (31 December 2010 est.)

Exchange Rate




As we look at the graph we can see that Chinese yuan to 1 US dollar is unstable. Currently it is about 6.29 yuan to 1 USD.

National Income Accounts

Investment (gross fixed)
54.2% of GDP (2011 est.
Country comparison to the world: 2

Governmental expenditures as % GDP
: 22.0

Work Cited

"World Factbook." Central Intelligence Agency. N.p., n.d. Web. 1 Apr. 2012. <https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html>.