Some Facts About Mexico’s Economy

Economy of Mexico

First Published Date: February 23, 2012 ADawnJournal.com

Mexico is the 13th largest economy in the world (in terms of nominal GDP) and the 2nd largest in Latin America. Mexico is the 54th freest country in the world in the 2012 economic freedom score. Mexico’s GDP is about $1.6 trillion.

The emerging market economy suffered in 2009 due to the global financial crisis. Mexico was hit hard, with its GDP dropping by 6.1 percent. Mexico felt the recession more than any other country in the Americas.

However, Mexico showed very quick recovery from the global financial crisis and was able to stay out of the European sovereign debt crisis. Its GDP growth was a positive 5 percent in 2010. Its economic growth forecast for 2012 is 3.3 percent.

Mexico is a member of the North American Free Trade Agreement (NAFTA). Also, Mexico has free trade agreements with 50 other countries, including the European Free Trade Area. 90 percent or more of Mexico’s trade falls under free trade agreement.
In Latin America, Mexico is the easiest place to do business. It is the 35th easiest country to do business in in the world.

Mexico, while greatly improving its economy, still has a lot of work to do. The country faces many socioeconomic challenges, such as improving the public education system, improving its labour laws, upgrading its infrastructure, improving upon its extreme poverty, privatization of its state owned oil sector, controlling drug trafficking and violence, and reducing corruption.

As we look forward, Mexico’s expected economic growth for 2012 is 3.3 percent and 4.2 percent for 2012 to 2016. A larger private investment and private consumption expect to boost its economic activity and employment. Mexico’s economic performance is far below its full potential and there is a lot of room to maneuver.

Best Android Free Financial Apps

My Top Favourite Free Android Financial Apps

First Published Date: March 1, 2012 ADawnJournal.com

Technology has made it possible to keep your money manager in your pocket or in your bag these days. Stay on top of your finances like a Pro with these free Android money management and financial apps. Today, I am going to discuss some of my favourite android apps I keep handy on my cell phone and on my tablet.

Mint.com Personal Finance by Intuit Inc. – View all your accounts and manage your money in one place with this Android app. This seems to be the only one app that works with all major Canadian banks. Don’t forget to make it password protected on your smart phone or tablet.

Stocks by Dato – View your stock portfolio or world stock markets on your screen with the Stocks app. It has the ability to sync with Google Finance portfolios and view all stocks saved on Google finance. It also supports Canada’s Toronto Stock Exchange.

Gold Live by Kitco Metals Inc. – This app lets you view precious metals like gold, silver, platinum live prices and also keep world stock markets and financial news at your fingertips with various charts and data. Gold Live does not come with a widget, but its home screen is customizable and neat enough to install this app on your phone or tablet.

Bloomberg for Smartphone or Tablet by Bloomberg LP – Get world financial news, world market data, stock tracking tools, major currency exchange rates, and much more from Bloomberg. It brings so much information that it can be overwhelming, but if you would like to keep on top of the global financial news, this is for you.

Exchange Rates by Russell Wilson – A very simple, but packed- with- features currency converter. Ad-free content and a minimalistic screen make this app better than other currency converter apps on the market.

Link: https://market.android.com/

Did You Get Your Free Canadian Phone Number For Android, Apple Smartphone or Tablet?

Dell Launches Dell Voice – A Free Phone For Canadians

First Published Date: March 8, 2012 ADawnJournal.com

(Dell Voice is now Fongo at Fongo)

Dell recently rolled out their free VOIP phone service Dell Voice for Android, Apple, and Windows devices exclusively for Canadians. A Blackberry version will soon be launched as well. Dell Voice is powered by Fongo, a VOIP tech company located in Waterloo, Ontario, Canada.

How Does Dell Voice Work?

Dell Voice is an app that you need to install on your smartphone or tablet. You will be asked to choose your free Canadian phone number from the available cities across Canada during registration. I was not able to get a Toronto area code number 416 or 649. However, I was able to get area code 289 number – which is a local number for Toronto as well. If you would like to port your existing number, a $25 charge applies.

Is Dell Voice Is Really Free?

Dell Voice uses Internet to place and receive calls. You can receive unlimited calls on your device and place calls to most of the Canadian cities for free regardless of your location, as long as you have Internet connection (3G, 4G, WiFi). Dell Voice also comes with voicemail, caller ID, call waiting, call forwarding up to 3 separate numbers, 911 emergency service, and much more – all for free.

A Few Things You Need to Be Aware Of

Dell Voice uses your Internet or phone’s data connection to make calls. It uses 1 MB per minute of your data when you are on a call. If you do not have an unlimited data plan on your phone, keep an eye on your data uses as you may exceed your allocated data plan. You can easily keep an eye on your data uses by installing a data monitor application on your phone. If you are using Dell Voice to make and receive calls using your home’s Internet connection via WiFi, keep an eye on your broadband uses if your plan is not unlimited.

Also, to keep your free Canadian phone number forever, don’t forget to use Dell Voice at least once every 90 days. You can easily avoid the deletion of your free number by buying a VoIP unlock key, if you are planning to use it every 90 days.

The World Is Your Local Area Code

The possibilities are endless with Dell Voice. The whole world is your local call as long as you have a smartphone or tablet and an Internet connection. This is a must-have app for global travellers as it breaks the barriers and boundaries of placing and receiving local calls anywhere on earth. For example, on my upcoming trip to the Philippines, I will have my Asus Transformer Tablet with me. With the Dell

Voice app, I will be able to make local calls to Canada from the Philippines and my friends and family will be able to call me local from Canada as well, although I am 7000 miles away.

Last Word

Currently, Skype does not offer a paid or a free Canadian phone number to receive calls and it charges $2.99 per month to make calls within the USA and Canada. Google Voice keeps promising a big time roll out in Canada, but it does not look like it will happen anytime soon in the near future. Dell Canada’s launching Dell Voice is the right move in the right direction to secure its place in the competitive VoIP sector, as VoIP is the future of telecommunications.

India’s Sideline Budget Promises Higher Economic Growth, But Does Little to Attract Foreign Investors

India’s Cautious Budget and Its Revised GDP

First Published Date : March 22, 2012 ADawnJournal.com

India’s finance minister presented its recent budget without taking any significant steps towards economic reforms and fiscal discipline. However, the budget promises a higher GDP growth of 7.6 percent for the next fiscal year. This is up from current fiscal year’s expected 6.9 percent ending in March, but far below the 8 to 9 percent GDP India experienced for the last decade.

India’s economy went through its slowest pace in three years for the last 3 months of 2011. Many government development plans were abandoned due to the slow pace. However, some sectors are showing signs of recoveries such as electricity, coal, cement, and fertilizer, as mentioned by the finance minister. India spends 2.5 percent of its GDP on subsidies such as food, fuel, fertilizer. India plans to cut subsidy spending to 1.7 percent. Higher oil prices are one of the main causes that make subsidy spending to swell.

Inflation has been one of the main contributing factors for the slowing growth in India. India’s central bank has had to increase interest rate 13 times for the last two years – pushing the borrowing cost 8.5 percent and making it difficult for economic growth.
Structural reforms and fiscal discipline were expected in this budget. However, a government battered by political instability and corruption charges doesn’t have much to do to take any dramatic steps toward big reforms. India runs both budget and account deficits, and this budget aims to make 5.1 percent of GDP next year from 5.9 percent this year.

Many foreign investors became impatient with India’s economy due to its slow growth and political corruption and instability. The new budget addresses very little to invigorate market sentiment to attract foreign investors. According to rating agency Standard and Poor’s, the new budget would be considered “mildly negative”.

India’s Slower GDP Growth Is a Threat to Curb Its High Poverty

High-Inflation and Slower Economic Growth Effect Poverty

First Published Date: June 28, 2011 ADawnJournal.com

India is a country which stands seventh largest in area and second largest in population. As a developing country, India’s economy is the tenth largest in the world and third largest in Asia in terms of nominal GDP and forth largest in terms of purchasing power parity (PPP). India is a growing giant and its economy is growing fast. This growth rate seemed to be on the verge of 10 percent, as economists were convinced. However, recent data released show India’s economy grew by 7.8 percent in the fourth quarter of 2010-2011 ending in March. This slower GDP growth rate will likely to effect the reversal of India’s high poverty level.

7.8 percent growth is the lowest rate in five quarters. The same three-month period of the previous fiscal year had a growth rate of 9.4 percent. The GDP for the full 2010-2011 fiscal year stands at 8.5 percent, which is lower than estimated 8.6 percent, but an increase from 2009-2010 rate of 8 percent.

High inflation, which is currently running at 8.7 percent, is one of the major causes to weaken economic growth. Indian prime minister recently stated that 2011-2012 growth rate prediction of 9 percent would likely to be missed. To curb high inflation, India’s central bank raised interest rates nine times in the past fifteen months. However, these rate hikes slowed down manufacturing sector investments, which likely impacted industrial output.

India needs high (such as double-digit) growth to tackle its high poverty. However, to fight inflation, this growth has to be sacrificed. India is under economic expansion for 20 years; however, the poverty level hasn’t improved significantly. One in every two children in India is still malnourished. India needs high economic growth to run various essential projects aiming to curb poverty for millions of poverty-stricken population. With high inflation and slower economic growth, things are not looking bright at this moment.