Comparative Economies of Japan, Australia and Russia

SynopsisI have elected to research the countries Japan, Russia and Australia for this assignment as the economies aim a major contrast when compared to each other. For example, Japan is the humanness?s third largest economy and had maintained a passing technologically advanced and developed manufacturing industry. Russia is undergoing major change as it undergoes major sparing reform and adjustment in a planned economic framework, and Australia as it is a relatively niggling and isolated player in international economic food market places; stock-still has demonstrated great resilience and agility in the period financial crisis. Importantly, while the current economic crisis has served to highlight points of economic difference, it has also highlighted similarities and how they respond to different stimuli.

Economic emersionThe following interpret demonstrates economic statistics for each country and is useful in assisting an dread of what is happening in each economy. The comparative analysis highlights differences in labour and unemployment while providing a clear indicator of capacity.

tabular array 1JAPANAUSTRALIARUSSIAGDP (Gross Domestic Product)$US4.487trillion$US 824.9billion$US 2.225trillionLabour Force66.15million11.21million75.7millionUnemployment Rate4.2%4.5%6.2%Public Dept170.4% of GDP15.4% of GDP6.8% of GDPGDP ? Per Capita$US35,300$US15,800$US39,300Labour force ? by SectorAgriculture: 4.4%Industry: 27.9%Services: 66.4%Agriculture: 3.6%Industry: 21.1%Services: 75%Agriculture: 10.2%Industry: 27.4%Services: 62.4%HDI0.9560.9650.



806Information sourced from the CIA Fact bookEconomic Growth and Sources of Growth over TimeAustraliaAustralia is a fortunate and strikingly stable market economy, despite current economic circumstances. Australia?s economy has been accelerating fore over the last 17 years due for the most part to a strong resources boom and increasing international market share. This has resulted in significant economic growth with low inflation, a strong housing market, major fiscal and tax reform, and more often than not strong export markets for most raw materials ? all of which has straightaway contributed to a sustained GCP. Unfortunately for Australia, as the current economic crisis worsens, the economic problems are exacerbated by these same factors, such as a strong dependence on...

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