The economy of Mexico is a developing market economy. It is the 15th largest in the world in nominal GDP terms and the 13th largest by purchasing power parity, according to the International Monetary Fund. Since the 1994 crisis, administrations have improved the country's macroeconomic fundamentals. Mexico was not significantly influenced by the 2002 South American crisis, and maintained positive, although low, rates of growth after a brief period of stagnation in 2001. However, Mexico was one of the Latin American nations most affected by the 2008 recession with its gross domestic product contracting by more than 6% in that year.
The economy of Paraguay is a market economy that is highly dependent on agriculture products. In recent years, Paraguay's economy has grown as a result of increased agricultural exports, especially soybeans. Paraguay has the economic advantages of a young population and vast hydroelectric power. Its disadvantages include the few available mineral resources, and political instability. The government welcomes foreign investment.
Cost accounting is defined as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, classifying, allocating, aggregating and reporting such costs and comparing them with standard costs." (IMA) Often considered a subset of managerial accounting, its end goal is to advise the management on how to optimize business practices and processes based on cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future.
The Standard Industrial Classification (SIC) was a system for classifying industries by a four-digit code as a method of standardizing industry classification for statistical purposes across agencies. Established in the United States in 1937, it is used by government agencies to classify industry areas. Similar SIC systems are also used by agencies in other countries, e.g., by the United Kingdom's Companies House.
Material requirements planning (MRP) is a production planning, scheduling, and inventory control system used to manage manufacturing processes. Most MRP systems are software-based, but it is possible to conduct MRP by hand as well.
To counterfeit means to imitate something authentic, with the intent to steal, destroy, or replace the original, for use in illegal transactions, or otherwise to deceive individuals into believing that the fake is of equal or greater value than the real thing. Counterfeit products are fakes or unauthorized replicas of the real product. Counterfeit products are often produced with the intent to take advantage of the superior value of the imitated product. The word counterfeit frequently describes both the forgeries of currency and documents as well as the imitations of items such as clothing, handbags, shoes, pharmaceuticals, automobile parts, unapproved aircraft parts, watches, electronics and electronic parts, software, works of art, toys, and movies.
The Generalized System of Preferences, or GSP, is a preferential tariff system which provides tariff reduction on various products. The concept of GSP is very different from the concept of "most favored nation" (MFN). MFN status provides equal treatment in the case of tariff being imposed by a nation but in case of GSP differential tariff could be imposed by a nation on various countries depending upon factors such as whether it is a developed country or a developing country. Both the rules comes under the purview of WTO.
Tax deduction is a reduction of income that is able to be taxed and is commonly a result of expenses, particularly those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both reduce taxable income, while credits reduce tax.
Patent leather is a type of coated leather that has a high-gloss finish. The coating process was introduced to the United States and improved by inventor Seth Boyden, of Newark, New Jersey, in 1818, with commercial manufacture beginning September 20, 1819. Boyden's process, which he did not patent, used a lacquer coating that was based on linseed oil. Modern patent leather usually has a plastic coating.
International Traffic in Arms Regulations (ITAR) is a United States regulatory regime to restrict and control the export of defense and military related technologies to safeguard U.S. national security and further U.S. foreign policy objectives.
Papier-mâché is a composite material consisting of paper pieces or pulp, sometimes reinforced with textiles, bound with an adhesive, such as glue, starch, or wallpaper paste.
Used goods mean any item of personal property offered for sale not as new, including metals in any form except coins that are legal tender, but excluding books, magazines, and postage stamps.
Dunnage is inexpensive or waste material used to load and secure cargo during transportation; more loosely, it refers to miscellaneous baggage, brought along during travel. The term can also refer to low-priority cargo used to fill out transport capacity which would otherwise ship underweight.
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The trade policy of Japan related to Japan's approach to import and export with other countries.
Reuse is the action or practice of using an item, whether for its original purpose or to fulfill a different function. It should be distinguished from recycling, which is the breaking down of used items to make raw materials for the manufacture of new products. Reuse – by taking, but not reprocessing, previously used items – helps save time, money, energy and resources. In broader economic terms, it can make quality products available to people and organizations with limited means, while generating jobs and business activity that contribute to the economy.
Manufacturing in Mexico grew rapidly in the late 1960s with the end of the US farm labor agreement known as the bracero program. This sent many unskilled farm laborers back into the Northern border region with no source of income. As a result, the US and Mexican governments agreed to The Border Industrialization Program, which permitted US companies to assemble product in Mexico using raw materials and components from the US with reduced duties. The Border Industrialization Program became known popularly as The Maquiladora Program or shortened to The Maquila Program.
Trade is a key factor of the economy of China. In the three decades following the formation of the Communist Chinese state in 1949, China's trade institutions at first developed into a partially modern but somewhat inefficient system. The drive to modernize the economy that began in 1978 required a sharp acceleration in commodity flows and greatly improved efficiency in economic transactions. In the ensuing years economic reforms were adopted by the government to develop a socialist market economy. This type of economy combined central planning with market mechanisms. The changes resulted in the decentralization and expansion of domestic and foreign trade institutions, as well as a greatly enlarged role for free market in the distribution of goods, and a prominent role for foreign trade and investment in economic development.
Between 1950 and 1960, the imperial government of Ethiopia enacted legislation and implemented a new policy to encourage foreign investment in the Ethiopian economy. This new policy provided investor benefits in the form of tax exemptions, remittances of foreign exchange, import and export duty relief, tax exemptions on dividends, and the provision of financing through the Ethiopian Investment Corporation and the Development Bank of Ethiopia. In addition, the government guaranteed protection to industrial enterprises by instituting high tariffs and by banning the importation of commodities that might adversely affect production of domestic goods. Protected items included sugar, textiles, furniture, and metal. The government also participated through direct investment in enterprises that had high capital costs, such as oil refineries and the paper and pulp, glass and bottle, tire, and cement industries. In 1963, with the Second Five-Year Plan under way, the government enacted Proclamation No. 51. The proclamation's objective was to consolidate other investment policies enacted up to that period, to extend benefits to Ethiopian investors, and to create an Investment Committee that would oversee investment programs. In 1966 the Ethiopian government enacted Proclamation No. 242, which elevated the Investment Committee's status as an advisory council to that of an authorized body empowered to make independent investment decisions. Thus, by the early 1970s, Ethiopia's industrialization policy included a range of fiscal incentives, direct government investment, and equity participation in private enterprises.
The textiles of Mexico have a long history. The making of fibers, cloth and other textile goods has existed in the country since at least 1400 BCE. Fibers used during the pre-Hispanic period included those from the yucca, palm and maguey plants as well as the use of cotton in the hot lowlands of the south. After the Spanish conquest of the Aztec Empire, the Spanish introduced new fibers such as silk and wool as well as the European foot treadle loom. Clothing styles also changed radically. Fabric was produced exclusively in workshops or in the home until the era of Porfirio Díaz, when the mechanization of weaving was introduced, mostly by the French. Today, fabric, clothes and other textiles are both made by craftsmen and in factories. Handcrafted goods include pre-Hispanic clothing such as huipils and sarapes, which are often embroidered. Clothing, rugs and more are made with natural and naturally dyed fibers. Most handcrafts are produced by indigenous people, whose communities are concentrated in the center and south of the country in states such as Mexico State, Oaxaca and Chiapas. The textile industry remains important to the economy of Mexico although it has suffered setback due to competition by cheaper goods produced in countries such as China, India and Vietnam.
