Well, this is going to be my 2nd post for this blog that I've made for this class. I've been looking throughout the internet for information and came across a website that had some interesting information although this is based around 2008-2009. It still included some facts though that could be related a little bit to what we all learned in class.
I remember learning about GDP( Gross Domestic Product) in class and in this website I found what the GDP was for France. According to state.gov, it is $2.865 trillion making France the fifth-largest economy world wide. What I also learned is that although France has a large economy it also has had its bad times as well. A main goal that they have been trying to accomplish is to restore more job opportunities to the ones that have lost their jobs and lower the unemployment rate. Also according to the website, "the unemployment rate in metropolitan France increased to 9.1% in the second quarter of 2009". France's government is trying to better the environment for those seeking work and work seeking workers. There has been alot change and attempts to better the economy, but it seems as if the government has continued to spend money at a 52.7% rate back in the year of 2008. This was considered to be one of the highest rates in the G-7. I was not too aware of what some terms mean and if there any people out there that were like me and not too sure what the G-7 is, then here is a quick explanation. The G-7 has to do with government positions that include seven different countries which include Canada, U.S.A, Japan, Italy, United Kingdom, Germany, and of course, France. Although France has had its struggles it has not stopped this country from having alot to offer for example an abundance of agricultural goods as mentioned in my last post and a work force which is highly skilled. It seems to me that all the countries are always in competition to have the best running economic system and France surely is attempting to do that. Their government has also passed severals bills in order create a more modern economy.
As we continue with our Macroeconomics class, I hope this little post was able to teach others a thing or two about France's economy as it did for me! Thank you.
Subscribe to:
Post Comments (Atom)
G-7 is a group of 7 countries(Canada, France, Germany, Italy, Japan, United Kingdom, and United States) who have their finance ministers meet every few month to discuss economic polices.
ReplyDeleteIn my French class last year I learned that France's high unemployment rate is due in part to an increase of immigrants from former French colonies. A few years ago a law was passed making it easier for citizens of former French colonies to get French citizenships, meaning that they would be able to enter and live in France without extra paperwork as well as receive welfare. The welfare for most is more then what they would receive working, so they prefer to join the ranks of the unemployed once in France.
~ Monica Bak
Dispite the size of the large French economy, I was reading that France has the same size economy as southern California! We sure are lucky over on this side of the Atlantic.
ReplyDelete