Israel Economy

Topics: Israel, Second Intifada, Developed country Pages: 7 (2269 words) Published: March 25, 2012
Israel is a developed country, an OECD member, and a representative democracy with a parliamentary system, proportional representation and universal suffrage. The Prime Minister serves as head of government and the Knesset serves as Israel's unicameral legislative body. Israel has one of the highest life expectancies in the world. The economy, based on the nominal gross domestic product, was the 41st-largest in the world in 2010, with a very high standard of living, which is the highest in the Middle East. Israel's financial centre is Tel Aviv, while Jerusalem is the country's most populous city, and its de facto capital The population of Israel, was estimated in 2012 to be 7,848,800 people, of whom 5,909,000 are Jewish. Arabs form the country's second-largest ethnic group, the great majority of whom are settled-Muslims. Smaller minorities include Negev Bedouins, Druze, Christians, Circassians and Samaritans. Independence and after years

On 29 November 1947 the General Assembly adopted a resolution recommending the adoption and implementation of the Plan of Partition with Economic Union .The Jewish community accepted the plan, but the Arab League and Arab Higher Committee of Palestine rejected it. On 14 May 1948, the Jewish Agency proclaimed independence, naming the country Israel. The following day, the armies of Arab countries attacked Israel, launching the 1948 Arab–Israeli War. Israel was accepted as a member of the United Nations by majority vote on 11 May 1949. Politics

 A member of parliament supported by a parliamentary majority becomes the prime minister—usually this is the chair of the largest party. The prime minister is the head of government and head of the cabinet. Israel is governed by a 120-member parliament, known as the Knesset. Membership of the Knesset is based on proportional representation of political parties. Foreign relation

Israel maintains diplomatic relations with 157 countries and has 100 diplomatic missions around the world. Only three members of the Arab League have normalized relations with Israel; Egypt and Jordan signed peace treaties in 1979 and 1994, respectively, and Mauritania opted for full diplomatic relations with Israel in 1999. Under Israeli law, Lebanon, Syria, Saudi Arabia, Iraq, and Yemen are enemy countries. He Soviet Union and the United States were the first two countries to recognize the State of Israel, having declared recognition roughly simultaneously. India established full diplomatic ties with Israel in 1992 and has fostered a strong military, technological and cultural partnership with the country since then. According to an international opinion survey India is the most pro-Israel country in the world. India is the largest customer of Israeli military equipment and Israel is the second-largest military partner of India after the Russian Federation. India is also the third-largest Asian economic partner of Israel and the two countries enjoy extensive space technology ties. India became the top source market for Israel from Asia in 2010 with 41,000 tourist arrivals in that year. Military

Israel has the highest ratio of defence spending to GDP and as a percentage of the budget of all developed countries. The Israel Defence Forces have been involved in several major wars and border conflicts in its short history, making it one of the most battle-trained armed forces in the world. Most Israelis are drafted into the military at the age of 18. Men serve three years and women two to three years. The nation's military relies heavily on high-tech weapons systems designed and manufactured in Israel as well as some foreign imports. Israel is consistently rated very low in the Global Peace Index, ranking 145th out of 153 nations for peacefulness in 2011. Science and technology

Israel has produced six Nobel Prize-winning scientists since 2002 and publishes among the most scientific papers per capita of any country in the world. Israel has embraced solar energy, its engineers...
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