Top 10 Most Powerful Economies of the World
Top 10 Most Powerful Economies by NPI for 2011:
The National Power Index (NPI) of any country is a composite index consisting of five major indexes i.e., economy, military, popularity, technology and diplomacy.
The list comprises countries that have traditionally performed well. These countries have been able to find the correct balance between their natural resources and the utilization of the same. The list is dominated by European countries. Find below the list of the top ten most powerful economies for the year 2011:
|As on : 17th Nov, 2011
Source : nationranking.wordpress.com
Brief about the Economies:
- US: Tourism, which is an important component of the US economy, has been trying to persuade the State Department to change its application procedures for tourist visas. Lot of tourists to the US have complained that obtaining a temporary visa for US is a very tough task and this can have a negative impact on the country’s economy.
- China: So far Chinese economy has been depending on substantial capital inflows. But with the gradually worsening economic condition around the world, this capital influx will be reduced in the year ahead. Experts feel that the People’s Bank of China will need to change its policies to suit the situation.
- France: France’s economy is in a critical condition at present, which is highlighted by its unemployment rates that have reached the highest level in 12 years. The government at present is restricting its expenses and this means it does not have the economic flexibility needed to deal with this situation properly.
- UK: According to financial analysts, UK will face tough times in the upcoming fiscal due to weak domestic demand and financial crisis in the Eurozone. They feel that both these factors will have a negative impact on UK economy and could take it to recession.
- Germany: Philipp Roesler, the Economy Minister, opines that the country is doing well and will kick off in the upcoming year from a sound position. He has stated that less-than-conducive economic environment, around the world and in Europe, has not hampered this European country’s economic growth.
- Russia: The Center for Economics and Business Research, based in UK, has stated that by 2020 Russia will be among the strongest economies. Natural resources will comprise majority of the exports of Russia in the coming years.
- Japan: At the present moment, Japan is aiming to improve its economic relationships with India. Yoshihiko Noda, the Prime Minister of Japan, has stressed that the ties between these two Asian powerhouses should be taken to the next level. India has meanwhile revealed that bilateral commerce will reach the 25 billion dollars mark by 2014.
- Italy: The rates of debt instruments issued by the Italian government have been reduced by 50 percent, which is likely to take the pressure off from the financial markets. But, the levels of pressure on Mario Monti, the Prime Minister are still fairly high.
- Canada: The BMO Capital Markets has given Canada an A ranking – it has been the second best performer among the G7 countries in 2011. It has scored 81.6 on the Economic Performance Indicator or EPI index of the BMO Capital Markets, which is led by Germany.
- Spain: The new economy minister of Spain has stated that the national economy will reduce further in the final quarter of the 2011 fiscal. The economic outlook of this European country is not positive for the months to come and this has sparked apprehensions that Spain might once again face recession.