The United States comes under high-income OECD economies as to the classification made by the World Bank on the basis of income and region for the year 2006.
The United States is the world’s largest economy over the world in terms of the Gross Domestic Products. The economy structure is mixed type in nature. The services sector constitutes a larger share in the country’s GDP followed by the industries.
City populations or urban populations are residents of cities, towns and urban areas such as suburbs or shanty towns comprises. In general a country’s population is divided into an urban or city-dwelling population and a rural or countryside population.
Sri Lanka is a lower income economies comes under the South Asian region, as to the classification made by the World Bank on the basis of income and region for the year 2006.
The country’s economy was socialist oriented in the past, but in the present scenario the country has stepped forward for private participation and competitive environment. Agriculture, industry and services have their respective importance in contributing the Gross Domestic Product.
Thailand is a lower middle-income economy comes under the East Asia and the pacific region, as to the classification made by the World Bank on the basis of income and region for the year 2006.
Exports of the country have brought tremendous success for the economy in the recent years. It gets larger exports earnings from the countries such as United States, Japan and Singapore.
The US Subprime Crisis has not only resulted in US economy recession but its ripple effects has touched the countries like UK, Spain, Japan and Singapore as well. Emerging economies like China and India are also affected by the negative influence of the US Subprime Market Crisis. At present it seems that this subprime crisis of US is going to generate a global recession by affecting the major countries of the world.
Effect of US subprime mortgage crisis on the banking sector cannot be ignored. Many undulations have occurred in the money market with subsequent ripples being created in the entire system. The aftermath has been revealed in the article below.
