Sierra Leone is a very poor nation that has a huge
inequality in income
distribution. Sierra Leone has great mineral,
agriculture, and fishery resources
available, the social structure is not well developed. A
lmost half of the
working age
population goes into
agriculture.
Manufacturing is made up of
processing of raw materials. Diamond mining
represents the biggest
source of currency earnings which adds up to be almost half of
Sierra Leone's exports. This
economy depends greatly on the
maintenance of domestic peace and
receipt of aid from abroad. There is a
poverty reduction and growth
facility program that has helped to
stabilize the economy. The population
below the
poverty line is 70.2% (2004 est.). The
agriculture products are ones of rice, coffee,
palm oil, sheep, pigs, and fish. Major industries are diamond mining, petroleum refining, and small
commercial shop repair.
The United States is the most powerful economy in the world. the rush of technology has left those that lack an education at the bottom and with the professional skilled at the top. More and more fail to get comparable pay raises, health insurance coverage, and benefits. Imported oil accounts for 2/3 of U.S.
consumption. The U.S. faces higher
barriers to enter their rivals home markets then the
foreign firms face going into U.S. markets. The 9-11
attacks led to
shifts in
national resources to the military. In 2007 worldwide there was a marked reduction in the value and status of the dollar. The
unemployment rate is 4.6%(2007 est.). The agricultural
products are ones of wheat, corn, fruits, beef,
pork and dairy products.
Comparing the two, Sierra Leone is a poor nation, while the U.S. is very powerful. The
unemployment rate is very low in the U.S. while in Sierra Leone it is very high. They both have
products such as, poultry and fish.
References: Info Please, "Economy", September 29
th ,2008.