|Country||Population and population density||Income category||GDP growth rate||GDP per capita||Income distribution Gini coefficient||Economic system||Political system||HDI||Literacy rate|
|Brazil||Population 200.4 Million |
|Upper-middle income||2.30%||$12,100||0.784||Mixed economy||Federal presidential||0.730||94%|
|South Africa||Population -52.9Million |
|Upper middle income||2.00%||$11,259||0.76||Free market||Presidential||0.629||93.1%|
|Singapore||5.39 Million |
|Middle income||4.1%||$78,744||0.689||Free market||Parliamentary||0.895||95.9%|
|Saudi Arabia||27.3 Million |
|High income||3.6%||$31,300||0.737||Free market||Absolute |
|Germany||80.7 Million |
|High income||0.5%||$40,007||0.667||Free market||Parliamentary||0.920||99%|
Mercantile policies in Brazil have changed tremendously after Portugal granted the country independence in 1822. The abolition of slavery rationalized the economy to be more inclusive. The following years witnessed a humongous soar in the socio-economic development of Brazil. In 1930, however, important structural economic reforms were instituted to transform Brazil into an industrialized economy. The end of the second world war saw Brazil develop its economy tremendously; the cause-effect was due to the social reconstitution of the nation as a significant number of people moved to the cities. This led to improved labor supply and the GNP was almost doubled from 18% to 42% (Data)
Brazil and the “Plano Real” initiative
In 1994, the country initiated the “Plano real” economic strategy to stabilize the economy after a decade of tumultuous growth. The idea was to transform the Brazilian economy in terms of production and domestic currency stability. The results of the initiative anchored Brazil on a tangent of economic growth and currency appreciation. The post “Plano real” phase has seen the economy grow steadily; there is a gradual increase in the GDP from 2006 by an annual average of 1.8% (“Comparative World Economies”).
One of the most salient challenges in Brazil is the widespread corruption in both the private and public sectors. The 2012 transparency index indicates that the corruption index is 43. The country experiences an annual loss of $53 billion due to corruption (“Data”).
The South African economy is perfectly dynamic. Earlier, South Africa experienced a single-sided growth, however, after 1994, the economy stabilized enormously. The revision of the international sanctions against South Africa in 1996 saw the GDP of the country grew to achieve an average annual growth rate of 4.2%. Currently, the strength of the economy has made it a “darling” of most FDIs in Africa. The restructuring of the political and social construct of the country in 1994 led to incredible growth in almost all sectors. Liberalization of agriculture, social reforms, institutional strengthening, and political stability of the country contributed to the enrichment of the economy (Maddison 122).
South Africa is marred with cases of corruption, unemployment, and social problems that incessantly threaten to derail the growth of the economy.
The Singaporean economy is one of the most liberal economies on the globe. The nation is a model of a reform-based market with a focus on commerce and industry. Singapore has very solid institutional management statutes and very effective business models. Its economy is the “most open” in the world due to the transparency of the system. The commercial morphology in the nation has made it a destination for most FDIs. Singapore has focused on the manufacturing and service industry. These sectors have been instrumental in driving its economic wheels. Through the establishment of the Central provident fund, the Singaporean government has inculcated a culture of saving amongst the citizens. This was because of social policy reforms established in the 1970s (“Comparative World Economies”).
The Singaporean economy improved after obtaining independence from Malaysia in 1965 through the efforts of the economic development board, an institution established to manage all investment issues in the country. In addition, the individualized social safety net policy instituted by the board led to the enhanced expansion of the Singaporean economy (“Data”).
The nation faces plenty of risks of pollution of its environment. The sustainability of its economic development has been questioned due to its over-reliance on manufacturing and industrial activities (Maddison 122).
The economic rubric of Germany focuses on the template of the “social market.” Currently, the German economy has been accredited with the triple-A credit rating owing to its policies of macro crediting. The growth of the German economy is traceable to the age of Napoleon where institutional reforms occurred, thus promoting the industrialization process. The Nazi leadership pun an emphasis on government subsidies to the manufacturers thereby increasing the production index. However, the economy of Germany slumped after they participated in the two world wars. Later, the labor and industrial reforms catapulted it to the helm of economic growth. The membership of Germany in the EU has promoted trade in Germany.
The country faces plenty of social problems that affect the economy. The unemployment rate remains one of the salient problems for the country. These problems have been attributed to the “social market” policy in Germany.
The economy of Saudi Arabia depends entirely on oil. Though the economy is considered unsustainable, it is relatively stable. Initially, the country relied on subsistence farming but the 1973 global oil crisis led to massive economic growth. The Arab- Israel war of 1974 led to a very abrupt increase in the cost of oil; this saw an increase in the economic activities of Saudi Arabia as demand for oil rose. However, the country’s political system has a very tight grip on most of the economic facets thus limiting its full potential. The corrupt ruling class derails the growth of the Saudi economy (“Comparative World Economies”).
“Comparative World Economies.” Central Intelligence Agency. Central Intelligence Agency, n.d. Web.
Data. World Bank, n.d. Web.
Maddison, Angus. The world economy. Paris, France: Development Centre of the Organisation for Economic Co-operation and Development, 2006. Print.