Q No 1
GDP growth rate (average) for 2- the two time span)
The average GDP growth rate of Canada from 1990- 2010=2.02 %
The average GDP growth rate of United States of America from 1990- 2010=2.02 %
Population Growth rate (average) for the two same period)
The average Population Growth rate of Canada from 1990- 2010=0.495 %
The average Population Growth rate of United States of America from 1990- 2010=0.395 %
GDP per capita growth rate (average) for the same time period
The average GDP growth rate of Canada from 1990- 2000=2.02 %
The average GDP growth rate of Canada from 2001- 2010=11.73 % %
The average GDP growth rate of United States of America from 1990- 2000=3.47 %
The average GDP growth rate of United States of America from 2001- 2010=1.66 %
The economy of Canada and United States of America was mostly affected by the recession 2008. The economies of both countries including G-7 entered era of great recession in 2007.The overall GDP growth rate was dropped by more than 5 % after the start of recession. According to the International Monetary Fund (IMF), the numbers of unemployed persons in countries like Canada and USA increased by more than 30 million last two decades. This is a huge figure as it is about equal to the total population of Canada.
Q No 2
Canada HDI index =0.825
USA Income Gini index = 0.924
Canada Income Gini index = 32.6
USA Income Gini index = 40.8
The Gini and HDI index shows that Canada is more advanced country than USA
Q No 3
The colonial trade and industrial capitalism helped in the expanding imports of European manufactures .It also helped in promoting mining schemes ,coercive cultivation and, and free-trade policies which effectively pre-empted a diversification of major developing African economies into eroded indigenous handicrafts. However, white dominated economies such as Rhodesia and South Africa were successful to work through their independent and diversified economic policies. These countries were also very successful in developing a considerable industrial sector. These countries took full advantage of the changed African labor and protective barriers resent in the African continent. In addition to that, it can also be said that colonial trade followed a path 19th century developing nations. Manufacturing units were very inconsistent with African endowments and its comparative advantage. These developing nations also used commodity specialization, abundant land and mineral resources, and scarce labor and human capital to promote their vested interests in the world. These strategies also help African nations such as South Africa to move ahead in the technological development.
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