The Economy Of Israel Is Based On Market System - 1715 Words

The economy of Israel is based on market system, and it ranks 16th among 187 nations on the UN’s Human Development Index, which means highly developed economy (Central Intelligence Agency, 2014). Outstandingly, Israel has developed human resources very well due to the fact that the nation has limited natural resources; as a result, it has established remarkably advanced high-tech industry including electronics, telecommunications, and computer and information technology. Not only high-tech industry, the nation has also invested decent amount of resources in agricultural industry and cultivation of land in order to maintain self-sufficiency in food consumption, which was boosted by significant population increase. As export-oriented fields, Israel has specialty in diamond processing, jewelry manufacturing and flower cultivation. Furthermore, the major export products of the nation are computer software, military equipment, and chemical products; on the other hand, crude oil, gr ains, raw materials, and military equipment are major import items of Israel (CountryWatch, Inc, 2013). After downswing of its economy in 2001-2003, Israel had significant economic boom with real GDP growth, which was above 5 percent from 2004 to 2007 (State of Israel Corp., 2013). Basically, its macroeconomic policies, stable banking sector, and reliable global markets underlay strong economic performance; furthermore, a strong export of goods and services boosted employment and incomes, encouragingShow MoreRelatedSocialist Society in Israel1336 Words   |  5 PagesDictionary.com defines, â€Å"socialism†, as â€Å"a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.† Over the years, Israel has struggled with the ideals of socialism in conjunction with it’s reality. The concept of a successful socialist society in Israel has failed as shown through the collapse of the socialist economic system, the implementation of chang es for a less involvedRead MoreQuestions on Economics, the Recession, and the Federal Reserve974 Words   |  4 Pagesand services become volatile. Most agree that it is impossible to eliminate recession in a capitalistic economy, since it is so cyclic. Recessions may trim weak business and allow stronger ones to survive by employing techniques that improve quality and service. Recession does not mean depression; it simply means that there are peaks and valleys within the overall economic system. Now that economies are more global though, these dips have a far more reaching set of consequences. In most firms, howeverRead MoreWhat Is Israels Economy?1166 Words   |  5 PagesIsrael gained independence in 1948, and its vibrant democracy remains unique in the region. Prime Minister Benjamin Netanyahu, reelected in March 2015, leads a coalition government of right-leaning and religious parties. Israel has a modern market economy with a thriving high-technology sector that attracts con siderable foreign investment. The recent discovery of large offshore natural gas deposits has improved both its energy security and its balance-of-payments prospects. Despite the 2006 war againstRead MoreThe History Of Israel1705 Words   |  7 PagesIsrael, a country of only 8.38 million people, has been thriving since its independence in the year 1948. It runs as a vibrant democracy and the Prime Minister, Benjamin Netanyahu, has successfully lead a coalition government consisting of right-leaning and religious parties. This 8,019 square mile country, â€Å"has a modern market economy with a thriving high-technology sector that attracts considerable foreign investment† (heritage.org, 1). Israel is surrounded by much larger and hateful countriesRead MoreInternational Monetary Fund ( Imf ), World Trade Organization ( Wto ) And World Bank934 Words   |  4 PagesBelgium, Dominican Republic, and Israel are members of the International Monetary Fund (IMF), World Trade Organi zation (WTO) and World Bank. These organizations in their own right are trying to improve the economy by facilitating internationals trading (IMF) , reducing poverty around the world (IMF), ensuring that trading flows smoothly and freely (WTO) and providing financial advice to assist in economic advancement (World Bank). Countries that are members of the IMF, WTO and World Bank, inRead MoreFederal And State Programs And Other Incentives1416 Words   |  6 Pagespublicly funded venture capital participation in investments that involve high commercial risks (Dadush, 2013). Authorities participate in a fierce competition to attract foreign direct investment in order to create jobs and help build the local economy. An example of a successful case is the BMW plant in the state of South Carolina which was constructed in the port of Charleston, which was previously under-utilized. The BMW Company received incentives from the United States government amountingRead MoreIsrael : A Developed Economy812 Words   |  4 PagesMy objective in my research/analysis was to study some form of successful US foreign policy that acted as a substitute to foreign aid or benefited a developing/developed economy. The end of my research resulted in the policy recommendation that the United States should negotiate and enter into bilateral free trade agreements with Egypt and Pakistan under the parameters of lower tariffs/duties for imports, and complete transparency regarding trade policy. At the same time reduce and eventually eliminateRead MoreGlobalization: Slower is Bett er1517 Words   |  7 Pagesto the current values and especially the worlds economy. While this is a great idea, the government is looking to far into the future, and ignoring current problems at home. The Cuban government is attempting to leap into the process of globalization as quickly as possible. James Rosenau say’s that globalization denotes †¦the something that is changing humankind’s preoccupation with territoriality and the traditional arrangements of the state system (Rosenau, 16). Cuba is opening up its territoryRead MoreEssay on George W. Bush/Barack Obama1746 Words   |  7 Pageswhich will later be mentioned, many differences also separated these two president’s policies and beliefs regarding the Middle East and War on Terror, their bailout and stimulus packages, healthcare reforms, and religion and federally funded faith-based groups. Page 1 To understand the difference between the Bush and Obama world views, a good place to begin is by examining their respective definitions of the strategic threat. In the aftermath of September eleventh, BushRead MoreA Look At Israel s Economy3116 Words   |  13 Pagestraded, competed, and influenced the world economy. A country’s political views, religious views, and culture all play an important role in how the country conducts business in the global market. They also play a role in how a specific country makes economic decisions as well as the result of those decisions and how it transitions to the world market. It is extremely important to understand the role of each country and how it conducts business in the global economy. The main focus of this essay is to take