Luxembourg
What Country Has A Positive Balance Of Trade, No National Debt And Has The Highest Income Bracket?
My guinea pig has his own country called `happyland`. He survives on cabbage and carrots from me and has no sanotation or instututionalise money/ banking system, so his country is free from debt. His country is also not recognised by the UN but when has that ever been a rational organisation. Www mijguitars info
Every country has to import and export goods and services. Import is the buying from a foreign country and export refers to the selling abroad. The difference between import and export bill of a nation during a given period is known as balance of trade / balance of payment.
Balance of trade includes only flow of goods (visible item), ignoring services (invisible items) into or out of a country. Balance of trade of a country will be positive or favourable if its exports exceed imports. The balance will be negative or unfavourable if its import bill is greater than export.
According to some Indian and most Pakistani authors, balance of trade includes balance of trade includes only goods but services are excluded from it. That is, only visible items are taken into account, and not invisible items, in determining balance of trade, but American and British economists and authors include both goods and services (visible and invisible item) in working out the balance of trade ignoring the term balance of payment.
The balance of trade of a nation does not truly reflect its overall international economic and business conditions. It is quite possible that a country may have unfavourable balance of trade but favourable balance of payment. Hence to determine correct economic position it is necessary to know the balance of payment since it reflects a better and truer picture of an economy.
Balance of trade includes only flow of goods (visible item), ignoring services (invisible items) into or out of a country. Balance of trade of a country will be positive or favourable if its exports exceed imports. The balance will be negative or unfavourable if its import bill is greater than export.
According to some Indian and most Pakistani authors, balance of trade includes balance of trade includes only goods but services are excluded from it. That is, only visible items are taken into account, and not invisible items, in determining balance of trade, but American and British economists and authors include both goods and services (visible and invisible item) in working out the balance of trade ignoring the term balance of payment.
The balance of trade of a nation does not truly reflect its overall international economic and business conditions. It is quite possible that a country may have unfavourable balance of trade but favourable balance of payment. Hence to determine correct economic position it is necessary to know the balance of payment since it reflects a better and truer picture of an economy.
Most people believe that a developed country has no debt problems and is one of the highest income making countries and has an equal balance of trade. This is not true. Developed countries do face many of such problems. According to the World Bank report of last year, it is said that Luxembourg is the highest income making country of the world with no debt issues and a positive balance of trade. The country has the highest per capita income in the world. United States of America comes in the sixth place and United Kingdom is in the 10th place. Estimating all these issues is not an easy process. It involves going through a lot of countries paper works. The information may not be accurate at all times and may require reviewing again and again. Some of the lowest income countries include Ethiopia, Liberia, Nepal, Malawi, Sierra Leone and many others.
From a global perspective, the whole world owes a horendeous amount of money to itself.
Sound irrational? How is this possible?
It is because in the world-banking setup in conjunction with federal reserve practices, money is continually created out of thin air, in addition to the fact that interest makes money "grow" but the goods and services that supposed to be measured by money's worth, do not inflate.
Money is conceived as value in itself, and that is simply not true. Money only serves one purpose: To measure the difference between rich and poor. While the poor create the value that is used as collateral for the currency, the rich merely hort it, contributing nothing.
Sound irrational? How is this possible?
It is because in the world-banking setup in conjunction with federal reserve practices, money is continually created out of thin air, in addition to the fact that interest makes money "grow" but the goods and services that supposed to be measured by money's worth, do not inflate.
Money is conceived as value in itself, and that is simply not true. Money only serves one purpose: To measure the difference between rich and poor. While the poor create the value that is used as collateral for the currency, the rich merely hort it, contributing nothing.
Peru
Norway
Www.mijguitars.info has declared itself an independant country and it has stock of $54,000 and no debts.
Though not internationally recognized as a country as of yet, Somaliland is the only place in the world with no foreign debt
