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Switzerland's Industrialized Economy
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Switzerland’s has a developed industrialized economy, and has one of the highest standards of living. It is a major financial center of the world, and is known for it’s stable Swiss banks. Switzerland is known for it’s traditional secrecy re .... Middle of Term Paper
... has an internationally oriented, open economy, which has a high savings rate, a highly skilled workforce, and a very well developed manufacturing sector. On an annual average, inflation rose from 3.2 percent to 5.4 percent, which is worrisome because Switzerland is considered a low-inflation economy. On June 2, 1991 Swiss voters rejected a government sponsored tax which would have modernized Switzerland’s tax system by a tax called Value Added Tax. The Swiss currency is called the Swiss Franc, and 1.5 francs equal one U.S. dollar.
The new common currency adopted early this year called the Euro, was rejected by Switzerland, although ... |
| Number of Words: 639 |
Approximate Pages: 3 |
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