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Comparative Country Economy Questionnaire Essay

794 words - 4 pages

As we have mentioned above, one of Germany’s policies is to secure the supply of skilled workers. And as we know, skilled workers in an economy are crucial for economic growth and development. With skilled workers, an economy can increase its productive capacity, production rate and also produce more efficient goods and services at lower prices. This can then lead to higher international competiveness. E.g. the German Mercedes car brand can employ these skilled workers, and produce more efficient cars which are stronger and more luxurious and also have a longer life expectancy, and all this is made with minimum prices, as resources are being used efficiently. Once produced, these cars can be ...view middle of the document...

The World Bank currently has 184 members, a big jump from the initial 38 members after the Second World War. Throughout time as membership increased, the World Bank had to expand more to meet each member’s needs. As a result the World Bank is now divided into 5 agencies to meet the needs of members more efficiently. These agencies include: The International Bank for Reconstruction and Development, The International Development Association, The International Finance Corporation (IFC), The Multilateral Investment Guarantee Agency (MIGA), The International Centre for Settlement of Investment Disputes.

The main goals of the World Bank are to help the developing countries with reducing the poverty rate and improving their living standards. This is done through granting loans to war devastated or underdeveloped countries. They also provide loans to the governments to invest on education, power, agriculture and water supply.
If a country is developed, the World Bank helps by promoting foreign investment and providing loans to the private sectors for specific projects. Other than loans, the World Bank also helps with technical and economic problems by providing advice and training.
International Monetary Fund (IMF):
This is an international organisation which seeks to ease international trade, increase employment...

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