PLEASE READ AND MAKE A BRIEF COMMENT REGARDING THE STATEMENT BELOW. The fact tha

Question

PLEASE READ AND MAKE A BRIEF COMMENT REGARDING THE STATEMENT BELOW.

The fact that both Germany and Finland are able to sustain high rates of growth in GDP with the presence of high tax rates over the United States who ranks low amongst other countries with tax burden simply shows how gross national product can help the economy and its citzens. With different viewpoints of high tax rates and how it affects GDP, its important to look at how each country is operated. With Germany and Finland, both having abundance of natural resources and equiped labor with the added demand from other countries, besides the U.S. it is understandable how the economy is still able to flourish. Although all three countries are considered a developed country, the U.S. is the not the best in all factors that affect economy. These factors are as listed: Human Resources, Natural Resources, Capital Formation, Technological Development, and the social and political factors. Both of these countries have a high percentage of their GDP from exports of goods and products and the tariffs of these products. Whereas, the U.S. is not a country that is big on exports but more relying on imports to help a nation considered a melting pot of ethnicities.The heavy tax burden in Germany and Finland, helps these countries to be able to continue to thrive off their goods and resources not only with cultivating products but the livliness through trade.

Explanation / Answer

Germany, finland and united states comparision:

United States is still the largest producer of many agricultural commodities, US still has some of the best tech companies that changed the world. US still is the single largest engine of the global economy with unmatched consumption capacity.

Germany and Finland : Germany is very high-tech and has some of the best manufacturing and software companies in the world. German engineering is excellent and its machinery is best in the world. Its success comes from its investment in universities. Finland also has best education policies for its citizens.

Most of the advancements of these European countries came from their social system, Germany certainly has free education system which will improve skill sets of people, Finland too have similar policies in education.

From good education these countries were able to supply suitable workforce for needs of their industry, US on other hand lost most of its manufacturing to third world countries.

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