Projected GDP of 7 largest economies in The major driver is continued productivity growth in Asia, particularly in China and India, as living standards rise. This is a large shift compared to the immediate post-cold war, when North America and Europe combined produced half of global GDP. If India fulfills its growth potential, it can become a motor for the world economy, and a key contributor to generating spending growth".
Bring fact-checked results to the top of your browser search. Since then the extraction and production of hydrocarbons have been the most important activity and have facilitated rapid industrialization.
The Algerian government instituted a centrally planned economy within a state socialist system in the first two decades after independence, nationalizing major industries and implementing multiyear economic plans.
Standards of living have risen to those of an intermediately developed country, but food production has fallen well below the level of self-sufficiency.
Agriculture, forestry, and fishing Cultivated land is largely restricted to the coastal plains and valleys.
These areas were colonized by French settlers, who established vineyards, orchards, citrus groves, and market gardens. The rest is tilled or devoted to vineyards and orchards. Winter grains—wheat, barley, and oats—are grown on the largest area of arable land in the drier High Plateaunotably around Constantineand in the Sersou Plateau to the west.
Tobacco, olives, and dates are important crops, as are sorghum, millet, corn maizerye, and rice. The climate is not well suited to extensive stock raising, but there are many scattered herds of cattle, goats, and sheep, and stock raising contributes significantly to the traditional sector of agriculture.
Irregular precipitation has long been a threat to agriculture, but dam construction and irrigation projects have added some stability to crop production. At independence Algeria possessed some 20 sizable dams.
As a result, cereal production has undergone large annual fluctuations, orchard and industrial crops have largely stagnated, and viticulture has declined markedly.
Wine exports to France have substantially declined, and most vineyards have been uprooted, with considerable loss of employment. Only market gardening and livestock production have shown significant growth. As a result, Algeria changed from a food-exporting nation in the s to one that by the late 20th century had to import about three-fourths of its food needs.
In addition, the program to privatize former state farms since the s caused legal wrangling over landownership. A substantial area of fertile agricultural land in and around Algiers and Oran has gone out of production because of the civil strife in the country that began in the early s.
However, the Algerian government aims at preserving and expanding the remaining woodlands. Refrigeration and canning facilities, necessary for transporting the catch inland, are limited.
The government, however, has taken steps to develop the industry by constructing additional fishing ports. Resources and power Hydrocarbons Extensive deposits of sulfur-free light crude oil were discovered in the Algerian Sahara in the mids. Production began inconcentrated in three main fields: Algeria ranks among the top countries in the world in terms of total gas reserves and gas exports.
The gas has a methane content of more than 80 percent and also contains ethane, propane, and helium. Other international oil companies soon followed.
Sonatrach undertook its own exploitation and production activities, with some success, although much of this was made possible by Soviet assistance and, more recently, by the establishment of joint service companies with help from American specialists. State liberalization during the s permitted North American and European petroleum companies to enter into joint ventures to explore and exploit Algerian reserves.
More than a dozen foreign companies were involved in joint ventures in Algeria by the late s, reversing the earlier state monopoly of Sonatrach. The Trans-Mediterranean natural gas pipeline from Tunisia to Sicily and on to Naples, Italywas completed insubstantially boosting the sales of Algerian natural gas to Europe.
In a second Maghrib-Europe gas pipeline began to supply Spain with Algerian gas, and Portugal was linked to the system in With petroleum reserves expected to run out in the first decades of the 21st century, exports of natural gas hold the promise of being more important for the economy than sales of oil.
Extensive deposits of high-grade iron ore are worked at Ouenzaand major deposits of medium-grade ore exist at Gara Djebilet near Tindouf. Nearly all the high-grade iron ore from the open-cut works at Ouenza is used to supply the domestic steel industry. Reserves of nonferrous metal ores are smaller and more scattered.
About one-third of this supplies the Annaba fertilizer complex, but the remainder is exported as raw material. Overall phosphate production declined by the mids.
Intensive prospecting for minerals in the Ahaggar Mountains has been carried out, and traces of tin, nickel, cobalt, chrome, and uranium have been found. Development of the Ahaggar uranium deposits began in the early s.The next generation of London Tube trains. A new generation of London Underground trains enters service during ,* remaining in operation for 40 years.
* The aging Tube network had been underinvested for decades – resulting in ever-worsening delays, overcrowding and safety issues.
In the early 21st century, however, a massive programme of upgrades and modernisation was initiated. 1) The 21st Century is as far away from the 20th Century as the 20th is to the Dark Ages. 2) The people who put you out of business in the 21st century may not be your competitors. 3) The transition from Global to Global is going to be difficult for many businesses without a guide.
American economic growth in the 20th century was characterized by the rise of the corporation and fall of the business barons of the past.
A History of American Economic Growth in the 20th Century . The Asian Century is the projected 21st-century dominance of Asian politics and culture, assuming certain demographic and economic trends persist. The concept of Asian Century parallels the characterization of the 20th century as the American Century, .
Course Area: History Designations: Statewide Core This course surveys the United States from the end of the Civil War to the present with emphasis on social, economic, and political problems of the 20th century.
As the American economy matured in the 20th century, however, the freewheeling business mogul lost luster as an American ideal. established countries grew to become economic powerhouses that rivaled the United States, and economic relationships came to predominate in a world that increasingly recognized military might could not be the only.