Assessing Economic Performance Essay Example | Topics and Well Written Essays - 500 words

Assessing Economic Performance - Essay ExampleThis comparison will utilize resources provided by the Central Intelligence Agency websites (CIA).the States has the greatest GDP globally. The the Statesn GDP is about twelve trillion dollars. Americas economy is highly diversified, and it relies on technological advancements to generate such(prenominal) a massive output. For a nation to generate such a GDP, it must add value to its products. A skilled labour force complements Americas enormous resources, which ensures efficient achievement. Similarly, India has massive resources such iron and rubber. Such natural resources have made manufacturing a key driver of this countrys economy. The enormous demography has provided ready consumption and cheap workforce. The GDP of India is about 3 trillion. The technological advancements in America have altered communication in a phenomenal manner. The advancements have transformed the manner in which the world conducts business culminating in th e emergence of E-commerce. Indias technological advancement is average since well-nigh of its economy depends on manufacturing and exportation of raw materials. However, the nation is integrating the recent advancements in technology rapidly to ensure that it increases value addition in its production (Central Intelligence Agency, 2012).Americas economy is stagnating owing to the current recession. Thus, the economy is experiencing negative growth patronage the concerted efforts to stimulate it. The efforts have included input packages and deficit budgets that ought to boost spending among the citizenry. The recession resulted from malpractices in the banking and insurance sector that culminated in failure of numerous firms. Conversely, Indias economy is performing strongly despite the receding global economy. This owes to local consumption and adoption of appropriate policies. The astute policies have provided an appropriate platform for the