The categorization of countries according to their wealth comprises four groups:
- Countries with high-income have a yearly per-capita income that surpasses $11,115.
- Upper-middle-income countries possess a yearly per-capita income between $3,595 and $11,115.
- Lower-middle-income countries hold an annual per-capita income ranging from $905 to $3,595.
- Low-income countries (commonly referred to as developing nations) acquire an annual per-capita income of $905 or less.
There are three primary markets in the global economy: North America, Europe, and Pacific Asia. The biggest marketplace is North America that boasts the most stable economy; Canada plays a notable role in the international economy while being one of the U.S.'s largest trading partners.
路 Due to its cost-efficient labor and transportation, Mexico has become a prominent manufacturing hub. However, drug-related violence may have caused Chinese companies to retur
n home.
路 E-commerce and technology are crucial in Western Europe, which includes Germany, the United Kingdom, and France.
路 Japan, China, Thailand, Malaysia, Singapore, Indonesia, South Korea, Taiwan, the Philippines and Australia make up the Pacific Asia region. During the 1970s and 1980s these countries experienced significant growth in sectors such as automotive industry electronics and banking.
路 The World Trade Organization's primary objective is to promote trade through sound practices by negotiating multilateral agreements that lower barriers while guaranteeing fair dispute resolution mechanisms for member states.
路 A country's balance of payments considers imports versus export revenues - an essential aspect of its balance of trade. Other factors affecting it include foreign exchange rates or tourist expenditure within a foreign land as well as foreign aid expenditures.
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