The economic structure of the South Korean Economy was more planned in the past. Presently the economy has followed towards a market system.
Country’s economy is largely dependent upon the fuel exports. Both services sector as well as industrial sector is important in the economy. Services constitute a larger share in the Gross Domestic Product in the country followed by industrial sector.
Canada comes under the High Income OECD economies as to the classification made by the World Bank on the basis of income and region for the year 2006.
Canada is one among the largest economies over the world in terms of its Gross Domestic Products. The services sector contributes a larger share to the country’s economy followed by the industrial sector. The exports sector of the country has also performed well in the recent years.
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.
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.
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.
