Brazil to support economic integration in South America

Brazilian Foreign Minister Amorim on May 12 in Vienna, Austria, said the Southern Common Market is in addition to developed countries other than the best example of regional integration. He believes that the Common Market of the South despite the problems, but for the integration of developing countries in the region has set an example. He also said that Mercosur has always been the driving force to promote South American integration. Amorim stressed that the integration of South America for all South American countries a competitive advantage, Brazil has always supported the integration of South America

South American economic growth rate will fall to 3.5 percent

Island Development Bank (IADB) 19, said that the U.S. economic slowdown, the global stock market crash and Argentina Ting time of economic uncertainty, and so the impact is expected this year's South American economic growth by four per cent last year Fell to 3.5 percent. IADB believe that the global economic slowdown so that investors increase investment in South America worries so that the countries in the region In both lending and fund-raising more difficult. On the other hand, due to be adversely Argentina's domestic and international problems, investors long delay Extension of investment and weak consumer confidence, so last year in Argentina, there is absolutely no economic improvement. In order to avoid the Government itself in a financial crisis, finance ministers last week, Mei Fei announced a series of financial austerity measures, a substantial 4,500,000,000 U.S. dollars to reduce government spending and the abolition of several tax exemption. However, on the whole, this year's South American economy is not too bad, as the U.S. interest rate cut of at least a hundred 75 basis points, so in times of the national debt, is expected to be less interest to pay up to 2,500,000,000 U.S. dollars

2008 World Index of Economic Freedom ranked 92 in the Philippines

The Heritage Foundation and "The Wall Street Journal" published the 2008 annual Index of Economic Freedom in the world ranking, Hong Kong ranked the first 14 years in a row. Philippines ranked 92, China's first 126. The Philippines score was 56.9 points, the same as last year have, in 30 countries in the Asia-Pacific, the Philippines ranked 15th. And the Philippines in two areas of relatively good scores: freedom of trade and the size of government. Financial freedom in general, the Philippines because of the income tax and corporate tax burdens are heavy, but the tax revenue accounted for a lower proportion of GDP. Philippine lower the average tariff, but non-tariff barriers seriously. The total government expenditure on GDP accounted for 20%. Philippines in the business freedom, investment freedom, property rights and clean government, lower scores. The Philippine government on foreign investment to set up formal and informal barriers

Ranking of the 10 countries of the world economy

Countries in the world economy (measured by GDP) of the International Comparison of the three conditions be met: First, the GDP indicator of the same concept, and the other is the same as currency unit and the third is to measure the same price level, which eliminate the differences in prices of various countries in order to carry out volume comparison. For the first condition, by using the same version of the System of National Accounts such as 93SNA resolved; for the latter two conditions, the general use of purchasing power parity (PPP) exchange rate and method to achieve. According to the exchange rate is the result of the accounting method: In 1980, the total GDP of developing countries in the world GDP accounted for 23.5 percent of the total, developed countries account for the total GDP of the world total GDP of 76.5 percent; In 1985, the total GDP of developing countries in the world GDP accounted for 20.4 percent of the total, developed countries account for the total GDP of the world total GDP of 79.6 percent; In 1990, the total GDP of developing countries in the world GDP accounted for 15.9 percent of the total, developed countries account for the total GDP of the world total GDP of 84.1 percent; In 1995, the total GDP of developing countries in the world GDP accounted for 18.0 percent of the total, developed countries account for the total GDP of the world total GDP of 82.0 percent; In 2000, the total GDP of developing countries in the world GDP accounted for 19.5 percent of the total, the developed countries of the world's total GDP of 80.5 percent of total GDP. According to purchasing power parity is the result of the accounting method: In 1980, the total GDP of developing countries in the world GDP accounted for 40.6 percent of the total, developed countries account for the total GDP of the world total GDP of 59.4 percent; In 1985, the total GDP of developing countries in the world GDP accounted for 41.2 percent of the total, developed countries account for the total GDP of the world total GDP of 58.8 percent; In 1990, the total GDP of developing countries in the world GDP accounted for 41.2 percent of the total, developed countries account for the total GDP of the world total GDP of 58.8 percent; In 1995, the total GDP of developing countries in the world GDP accounted for 41.1 percent of the total, developed countries account for the total GDP of the world total GDP of 58.9 percent; In 2000, the total GDP of developing countries in the world GDP accounted for 43.2 percent of the total, the developed countries of the world's total GDP of 56.8 percent of total GDP. The above data indicate that the exchange rate in accordance with accounting law, from 1980 to the present, developing countries in the world economy of a smaller proportion, at the same time show a downward trend; according to purchasing power parity method accounting, from 1980 to the present, developing countries in the world economy The larger, but also on the rise. Economies of scale in the world top 10 national ranking, also showing a markedly different results. According to purchasing power parity basis, China, India, Brazil, Russia among the four large developing country with the world's top 10, their economic status improved significantly. Among them, China's GDP total in the world ranking from No. 6 of the Law on the exchange rate, purchasing power parity rose to law No. 2, after the United States; India rose to 13th from No. 4; no precedence in Brazil Changes in both the first 9; Russia rose to 16 from the 10th. The following table lists the 2000 GDP in the world top 10 countries: Precedence 1 2 3 4 5 6 7 8 9 10 Rate method USA, Japan and Germany Britain France, China and Italy Canada, Brazil and Mexico PPP France, USA and China Japan, India and Germany France United Kingdom Italy, Brazil and Russia The United States, the European Union, Japan's three major economies in the balance of power has changed: according to purchasing power parity method, the United States, the European Union, Japan's economy is a comparison of the total 100: 94:34, according to the exchange rate calculation method, the ratio for the three 100:80:49. From purchasing power parity calculations, the European Union and the United States equal the size of the economy, and the Japanese economy and the relatively small size. Can be seen, according to the exchange rate and purchasing power parity method of calculation of the world gross domestic product different. Exchange rate method underestimated the total economic output in developing countries, developed countries had over-estimated the total economic output. This is because the exchange rate reflects only between the prices of tradable goods relativities, rather than reflect the national construction materials, a variety of services and other non-tradable goods price relativities. In addition to the countries affected by exchange rate changes, the rate of inflation, mainly by the decision of the relationship between supply and demand in the foreign exchange market, and by the national balance of payments, interest rates, economic growth, or even government intervention, speculation and capital flows and other factors. At present, the exchange rate has become an important means of macroeconomic regulation and control. As a result, in the short term changes in the rate of exchange rates, frequent changes. Purchasing power parity method over-estimated the total economic output in developing countries, developed countries underestimated the total economic output. Purchasing Power Parity Act of lack of reliable data sources, data is not accurate enough, the quality (for developing countries, especially data). At present, to the International Comparison Program (ICP) for the framework of the PPP survey also not on a global scale application. China, India and other developing countries have not formally participate in all the ICP project. In this case, the World Bank's purchasing power parity law number (particularly in developing countries, the figure) is one of the few experts through the projections made, the results of the calculation errors. Compared with developed countries, many developing countries, economic restructuring, the low level of market opening to the outside world so as to construction materials, services as the main content of the non-tradable goods account for a large proportion. And the non-tradable goods are of poor quality, if such a low quality of non-trade goods on the international market with good quality goods and services mix for comparison, obviously over-estimated the purchasing power of money in developing countries, and over-estimated the size of its economy . Governments of developing countries for education, health care, rent, salaries, and other items to give different levels of subsidies, which have been seriously distorted prices. Summary of purchasing power parity approach to a certain extent, also over-estimated the least developed countries of the economic scale.