Bindhu Soman, Chad L. Million, Karen Moore and Sara Ontiveros Grand Canyon University: ECN-601 Economics
March 25, 2013
Introduction to the topic
As countries, we are continuously concerned in distinguishing where we are and where we are going. For this assignment our CLC will take a look and begin to better understand how Germany has developed, while simultaneously understanding how Jamaica is developing. Our CLC group will prepare a report incorporating the following information on Germany and Jamaica. We will employ the country's top five exported and imported products for the most recent year available. Furthermore, we will employ the country's top five trading partners. Note it is important to understand that not a single person can contradict these measurements. Statistics and information are vital instruments to this research and lacking these instruments, it can be problematic to implement a calculation on how extensive the progress a society has made. The discussion rather centers on what to measure and how to measure it, and how much advancement will be considered real progress. Background information identifying reasons or events that influenced countries We choose Germany as our developed country. Germany is a modern and stable democracy with a powerful military. Germany is a strong member of the European Union. In 2007 it was the main driver behind the creation of the Transatlantic Economic Council (TEC), a political body that seeks to deepen cooperation between the United States and the European Union by promoting economic growth through increased trade and job creation. (U.S. Relations with Germany Bureaus of European and Eurasian Affairs 2012). In 2011, the United States was ranked the 5th largest trading partner globally for Germany.
Jamaica is a developing country with over 2.7 million people. In 1962 Jamaica gained independence from the United Kingdom. Jamaica...