The Development of G-20 and G-8 Countries Term Paper

The Development of G-20 and G-8 Countries - Term Paper Example They are manufacturing countries and the huge exports provide for the main avenue to an acquisition of wealth, power, and high employment rates unlike developing ones which depend on small-scale exports of farm produce and other little-valued trade related products. However, it is worth noting that relative poverty exists between G-20 and G-8 Countries. This relative poverty phenomenon can best be accounted for if we study different macroeconomic indicators. And these are: By the end of third quarter, the consumer price index CPI for all urban consumers increased to 0.6 %; it rose 0.4% before seasonal adjustment It had also heightened 0.4%. This CPI increased by from 2.0% compared to the earlier level. The employment rate represents the total number of people working whether on the permanent or casual basis. It suggests that over 63% people in the population, men and women have had employment. We got job losers, job seekers who stay out of employment for weeks or months. Some get new jobs and some don’t. The output is huge in the manufacturing of nondurables showing that the USA is an industrial country. The statistics show variations but it gives us a clear picture of the nature of productive activities. This is a good indication of economic dynamics in the USA. Secession is a political crisis which involves a state or a group of states seeking separation and complete sovereignty from the federal or main government. The eleven of the Southern States which were fifteen in number believed that it was within their constitutional right to seek secession in 1806 and 1861. However, they were defeated during the American Civil War. Over 600,000 people perished. The Supreme Court declared secession unconstitutional, though the Southern States had concrete reasons for secession. They hated slavery which was legalized in the South. This happened before Abraham Lincoln took office oath. The recession caused people to lose jobs and weakened the Union in terms of military strength, US Foreign Policy. International trade had a downfall too. It also motivated more states to petition secession moves.