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China is often referred to as the “world’s factory,” given its huge manufacturing and export base. However, over the years, the role of services has gradually increased and that of manufacturing as a contributor to GDP has declined relatively.

Back in 1980, China was the seventh-largest economy, with a GDP of $305.35 billion, while the size of the U.S. then was $2.86 trillion. Since it initiated market reforms in 1978, the Asian giant has seen an economic growth averaging 10% annually. In recent years, the pace of growth has slowed, although it remains high in comparison to its peer nations. When the economies are assessed in terms of purchasing power parity, the U.S. loses its top spot to its close competitor China. In 2019, the U.S. economy, in terms of GDP (PPP), was at $21.44 trillion, while the Chinese economy was measured at $27.31 trillion.

Developers should make use of such capabilities to store keys, credentials and other sensitive data. The use of such secure elements gives a higher level of assurance with the standard encrypted SD card certified at FIPS Level 3. Using the SD cards as a second factor of authentication though possible, isn’t recommended, however, as it becomes a pseudo-inseparable part of the device once inserted and secured. 1.13 Applications on managed devices should make use of remote wipe and kill switch APIs to remove sensitive information from the device in the event of theft or loss. (A kill-switch is the term used for an OS-level or purpose-built means of remotely removing applications and/or data).

The country has a highly skilled workforce and low unemployment (3%). The country’s economy benefits from its stable political system, sound infrastructure, and favorable tax rates. Switzerland is one of the most stable market economies in the world. It is the 20th-largest economy in the world, with a nominal GDP of $703.75 billion.

Japan is the third-largest economy in the world, with its GDP crossing the $5 trillion mark in 2019. The financial crisis of 2008 rocked the Japanese economy and it’s been a challenging time for its economy since then.

However, it is projected to soften to 4.2% in 2018 amid rising external debt, depreciating currency, rising inflation, and unemployment. The economy is projected to join the trillion-dollar club by 2023, while its GDP-PPP will reach $2.78 trillion that same year. The country possesses around 18% of the world’s proven petroleum reserves. Itranksas the largest exporter of petroleum, with the oil and gas sectors accounting for about 50% of its GDP and 70% of its export earnings.

In 2017, it incurred a huge budget deficit, financed by foreign reserves and bond sales. The country is looking https://www.newscase.com/how-to-play-blackjack-and-win-a-lot-of-money/ to bolster its non-oil economy in order to diversify its economy and tackle the problem of unemployment.

• It may be useful to provide feedback on the strength of the password when it is being entered for the first time.
• In terms of sectors, agriculture has traditionally played a crucial role, however, with time the contribution of this sector has fallen to about 3%.
• Indonesia, the fourth most populous nation, is the seventh-largest economy, with a $3.50 trillion GDP in terms of purchasing power parity.
• It is among the top exporters in the world and presents great investment opportunities, reflected in its ease of doing business ranking.
• 1.1 In the design phase, classify data storage according to sensitivity and apply controls accordingly (e.g. passwords, personal data, location, error logs, etc.).

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China’s huge population brings down its GDP per capita to $10,100 (seventieth position). China has experienced exponential growth over the past few decades, breaking the barriers of a centrally-planned closed economy to evolve into a manufacturing and exporting hub of the world.

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Mexico, the second-largest economy in Latin America, is the 15th-largest economy in the world, with a nominal GDP of $1.22 trillion, while its GDP in terms of PPP is $2.57 trillion. The same are expected to touch $1.50 trillion and $3.18 trillion, respectively, by 2023.

Russia moves up the ladder to the sixth spot for rankings, with a $4.21 trillion GDP based on PPP. France, the most-visited country in the world, is the third-largest economy of Europe and the sixth-largest in the world, with a nominal GDP of $2.78 trillion. Its GDP in terms of purchasing power parity is around $2.96 trillion. The country offers a high standard of living to its people as reflected in its GDP per capita of $42,877.56. In recent years, the economic growth has slowed, resulting in unemployment that has placed immense pressure on the government to reboot the economy.

Australia is the 14th-largest economy, with a nominal GDP of $1.42 trillion. The economy has grown at a healthy pace for the past two decades on the back of low unemployment, low public debt and inflation, robust exports, a strong service sector, and a stable financial system. Australia is also a land rich in natural resources, as well as a major exporter of energy and food. Over the past four decades, South Korea has demonstrated incredible economic growth and global integration to become an industrialized economy.

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The country offers a very high standard of living for its people, represented by the GDP per capita of $82,950.28, which is only behind Luxembourg. The Netherlands, the sixth largest economy in the European Union, is the 17th-largest economy in the world. Back in 1980, the Netherlands was the 12th-largest economy globally, with a GDP of $189.49 billion. Today, the country has a nominal GDP of $912.90 billion and a GDP-PPP of $969.23 billion. It ranks 13th on the basis of per capita income, with a GDP per capita of $53,106.38.