Table 2 shows comparative numbers of Chinese and U.S. battle force ships (a...
2021-03-19 6 ENGLISH REPORTS
The Americas region, covering more than one-quarter of the globe’s landmass, is one of its most economically diverse. With a population of just over 1 billion, the region has the second-highest population-weighted gross domestic product (GDP) per capita ($33,282 at purchasing power parity). Within the region, economies have expanded at an average rate of just 1.0 percent over the past fve years. The regional average rate of unemployment has risen to 6.9 percent, and the regional average rate of infation (excluding Venezuela) has risen to 5.2 percent. The region’s average level of public debt—already the highest in the world—rose to 85.2 percent of GDP during the past year.
The slight decline in the region’s overall average economic freedom score in the 2021 Index mainly refects drops in scores for the trade freedom and property rights indicators. The overall score has fallen further behind the global average this year and is the world’s second lowest, ahead only of sub-Saharan Africa. The foundations of a well-functioning free market remain shallow in many Latin American countries, with widespread corruption and weak protection of property rights aggravating such systemic shortcomings as regulatory ineffciency and monetary instability that is caused by various government-driven market distortions.
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