Homework Question on Economics of the Arab World Vs The Global Platform
- Access the CIA World Factbook at: https://www.cia.gov/library/publications/the-world-factbook/index.html
- Using the menu “Select a Country or Location,” compute the total GDP (Gross Domestic Product in US dollar) of all 22 Arab League members (note that the State of Palestine is implicitly referred to as “Gaza Strip” and “West Bank” (because the State of Israel continues to pressure the U.S. not to recognize the State of Palestine) in 2013 (or the available year). You should use ONLY the “GDP ( official exchange rate)” whenever available, NOT the GDP (purchasing power parity). Using the same CIA source, compute also the total population of the 22 Arab League states. Find out the GDP per capita of the 22 Arab League members. The GDP per capita of the Arab worl should be obtained by dividing the total GDP (official exchange rate in US dollar) in 2013 (or the available year) by the total population in 2014 (or the available year).
- Compare and contrast the computed GDP per capita of the Arab world (the 22 Arab League members) in 2013 (or the available year) with the GDP per capita (PPP) of EACH ONE of the following countries: France, Germany, Japan, Israel, and the United States in 2013 (or the available year).
- Compare and contrast the GDP per capita (PPP) of the State of Israel with the GDP per capita (PPP) of the State of Palestine (West Bank and Gaza Strip). Based on (1) the above compare-and-contrast analysis and (2) the publicized stereotypes about the wealth of the Arab world,
- Write a 200 to 300 word-essay summarizing your findings and conclusions which MUST be illustrated by citing (only in text) the correct compared figures (GDP per capita).
Homework Answer on Economics of the Arab World Vs The Global Platform
The Arab league members (22) forms the countries that mostly occupied by the Arabians. It is a well known fact that the main booming business in such countries is the oil business. This is mainly because they own the oil fields that are believed to put their economic status at the upfront. This has also enabled other business ventures to sprout in these countries such as the tourism, the telecommunication and the like (Schlumberger, 79).
This paper looks at the in depth analysis of the economic stance of these Arab league in light of the world platform, where we would compare it with the major economic strongholds like USA, Germany and the like.Even as the economic GDP per capita of the Arab league stands strongly at approximately 17000 USD, This is still far much below par as the USA which has the strongest GDP per capita of 53142 USD.
Looking at the comparison between the Israel and the Palestine state, there is a great disparity in terms of economic status. The Israel economy records a higher GDP per capita (32000 USD), which over ten times than the Palestinian GDP per capita (2900 USD) (Schlumberger, 272). This is worries a lot since these countries are geographically very close.