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Economy Of The Federated States Of Micronesia
The economic activity of the Federated States of Micronesia consists primarily of subsistence agriculture and fishing. The islands have few mineral deposits worth exploiting, except for high-grade phosphate. The potential for a tourist industry exists, but the remoteness of the location and a lack of adequate facilities hinder development. Financial assistance from the US is the primary source of revenue, with the US pledged to spend $1.3 billion in the islands in 1986–2001. Geographical isolation and a poorly developed infrastructure are major impediments to long-term growth. Under the terms of the Compact of Free Association, the United States provided FSM with around $2 billion in grants and services from 1986 to 2001. The Compact's financial terms are being renegotiated for an extension period. In 2001 the U.S. provided more than $84 million in Compact grants—an amount equivalent to over one-third of FSM's GDP—plus more than $20 million through other federal programs. T ...
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United States Dollar
The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallic standard of (0.7735 troy ounces) fine silver or, from 1837, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, it ...
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National Debt
A country's gross government debt (also called public debt, or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt. In 2020, the value of government debt worldwide was $87.4 US trillion, or 99% measured as a share of gross domestic product (GDP). Government debt accounted for almost 40% of all debt (which includes corporate and household debt), the highest share since the 1960s. The rise in government debt since 2007 is largely attributable to the global financial crisis of 2007–2008, and the COVID-19 pandemic. The ability of government to issue debt has been central to state formation and to state building. Public debt ...
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Guam
Guam (; ch, Guåhan ) is an organized, unincorporated territory of the United States in the Micronesia subregion of the western Pacific Ocean. It is the westernmost point and territory of the United States (reckoned from the geographic center of the U.S.); its capital Hagåtña (144°45'00"E) lies further west than Melbourne, Australia (144°57'47"E). In Oceania, Guam is the largest and southernmost of the Mariana Islands and the largest island in Micronesia. Guam's capital is Hagåtña, and the most populous village is Dededo. People born on Guam are American citizens but have no vote in the United States presidential elections while residing on Guam and Guam delegates to the United States House of Representatives have no vote on the floor. Indigenous Guamanians are the Chamoru, historically known as the Chamorro, who are related to the Austronesian peoples of Indonesia, the Philippines, Malaysia, Taiwan, Micronesia, and Polynesia. As of 2022, Guam's population is 168, ...
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Japan
Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the north toward the East China Sea, Philippine Sea, and Taiwan in the south. Japan is a part of the Ring of Fire, and spans Japanese archipelago, an archipelago of List of islands of Japan, 6852 islands covering ; the five main islands are Hokkaido, Honshu (the "mainland"), Shikoku, Kyushu, and Okinawa Island, Okinawa. Tokyo is the Capital of Japan, nation's capital and largest city, followed by Yokohama, Osaka, Nagoya, Sapporo, Fukuoka, Kobe, and Kyoto. Japan is the List of countries and dependencies by population, eleventh most populous country in the world, as well as one of the List of countries and dependencies by population density, most densely populated and Urbanization by country, urbanized. About three-fourths of Geography of Japan, the c ...
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Banana
A banana is an elongated, edible fruit – botanically a berry – produced by several kinds of large herbaceous flowering plants in the genus ''Musa''. In some countries, bananas used for cooking may be called "plantains", distinguishing them from dessert bananas. The fruit is variable in size, color, and firmness, but is usually elongated and curved, with soft flesh rich in starch covered with a rind, which may be green, yellow, red, purple, or brown when ripe. The fruits grow upward in clusters near the top of the plant. Almost all modern edible seedless ( parthenocarp) bananas come from two wild species – ''Musa acuminata'' and ''Musa balbisiana''. The scientific names of most cultivated bananas are ''Musa acuminata'', ''Musa balbisiana'', and ''Musa'' × ''paradisiaca'' for the hybrid ''Musa acuminata'' × ''M. balbisiana'', depending on their genomic constitution. The old scientific name for this hybrid, ''Musa sapientum'', is no longer used. ''Musa ...
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Chicken
The chicken (''Gallus gallus domesticus'') is a domesticated junglefowl species, with attributes of wild species such as the grey and the Ceylon junglefowl that are originally from Southeastern Asia. Rooster or cock is a term for an adult male bird, and a younger male may be called a cockerel. A male that has been castrated is a capon. An adult female bird is called a hen and a sexually immature female is called a pullet. Humans now keep chickens primarily as a source of food (consuming both their meat and eggs) and as pets. Traditionally they were also bred for cockfighting, which is still practiced in some places. Chickens are one of the most common and widespread domestic animals, with a total population of 23.7 billion , up from more than 19 billion in 2011. There are more chickens in the world than any other bird. There are numerous cultural references to chickens – in myth, folklore and religion, and in language and literature. Genetic studies have pointed to mult ...
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Sweet Potato
The sweet potato or sweetpotato (''Ipomoea batatas'') is a dicotyledonous plant that belongs to the Convolvulus, bindweed or morning glory family (biology), family, Convolvulaceae. Its large, starchy, sweet-tasting tuberous roots are used as a root vegetable. The young shoots and leaves are sometimes eaten as Leaf vegetable, greens. Sweet potato cultivars, Cultivars of the sweet potato have been bred to bear tubers with flesh and skin of various colors. Sweet potato is only distantly related to the common potato (''Solanum tuberosum''), both being in the order Solanales. Although darker sweet potatoes are often referred to as "yams" in parts of North America, the species is not a yam (vegetable), true yam, which are monocots in the order Dioscoreales. Sweet potato is native to the tropical regions of the Americas. Of the approximately 50 Convolvulaceae#Genera, genera and more than 1,000 species of Convolvulaceae, ''I. batatas'' is the only crop plant of major importance—some o ...
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Tapioca
Tapioca (; ) is a starch extracted from the storage roots of the cassava plant (''Manihot esculenta,'' also known as manioc), a species native to the North Region, Brazil, North and Northeast Region, Brazil, Northeast regions of Brazil, but whose use is now spread throughout South America. It is a perennial shrub adapted to the hot conditions of tropical lowlands. Cassava copes better with poor soils than many other food plants. Tapioca is a staple food for millions of people in tropical countries. It provides only carbohydrate food value, and is low in protein, vitamins and Mineral (nutrient), minerals. In other countries, it is used as a thickening agent in various manufactured foods. Etymology and origin ''Tapioca'' is derived from the word ''tipi'óka'', its name in the Tupi–Guarani languages, Tupi language spoken by natives when the Portuguese first arrived in the Northeast Region of Brazil around 1500. This Tupi word is translated as 'sediment' or 'coagulant' and refe ...
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Cassava
''Manihot esculenta'', common name, commonly called cassava (), manioc, or yuca (among numerous regional names), is a woody shrub of the spurge family, Euphorbiaceae, native to South America. Although a perennial plant, cassava is extensively cultivated as an annual agriculture, crop in tropical and subtropical regions for its edible starchy tuberous root, a major source of carbohydrates. Though it is often called ''yuca'' in parts of Spanish America and in the United States, it is not related to yucca, a shrub in the family Asparagaceae. Cassava is predominantly consumed in boiled form, but substantial quantities are used to extract cassava starch, called tapioca, which is used for food, animal feed, and industrial purposes. The Brazilian farinha, and the related ''garri'' of West Africa, is an edible coarse flour obtained by grating cassava roots, pressing moisture off the obtained grated pulp, and finally drying it (and roasting both in the case of farinha and garri). Cassav ...
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Coconut
The coconut tree (''Cocos nucifera'') is a member of the palm tree family ( Arecaceae) and the only living species of the genus ''Cocos''. The term "coconut" (or the archaic "cocoanut") can refer to the whole coconut palm, the seed, or the fruit, which botanically is a drupe, not a nut. The name comes from the old Portuguese word '' coco'', meaning "head" or "skull", after the three indentations on the coconut shell that resemble facial features. They are ubiquitous in coastal tropical regions and are a cultural icon of the tropics. The coconut tree provides food, fuel, cosmetics, folk medicine and building materials, among many other uses. The inner flesh of the mature seed, as well as the coconut milk extracted from it, form a regular part of the diets of many people in the tropics and subtropics. Coconuts are distinct from other fruits because their endosperm contains a large quantity of clear liquid, called ''coconut water'' or ''coconut juice''. Mature, ripe coconut ...
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Black Pepper
Black pepper (''Piper nigrum'') is a flowering vine in the family Piperaceae, cultivated for its fruit, known as a peppercorn, which is usually dried and used as a spice and seasoning. The fruit is a drupe (stonefruit) which is about in diameter (fresh and fully mature), dark red, and contains a stone which encloses a single pepper seed. Peppercorns and the ground pepper derived from them may be described simply as ''pepper'', or more precisely as ''black pepper'' (cooked and dried unripe fruit), ''green pepper'' (dried unripe fruit), or ''white pepper'' (ripe fruit seeds). Black pepper is native to the Malabar Coast of India, and the Malabar pepper is extensively cultivated there and in other tropical regions. Ground, dried, and cooked peppercorns have been used since antiquity, both for flavour and as a traditional medicine. Black pepper is the world's most traded spice, and is one of the most common spices added to cuisines around the world. Its spiciness is due to the ch ...
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Pearl
A pearl is a hard, glistening object produced within the soft tissue (specifically the mantle) of a living shelled mollusk or another animal, such as fossil conulariids. Just like the shell of a mollusk, a pearl is composed of calcium carbonate (mainly aragonite or a mixture of aragonite and calcite) in minute crystalline form, which has deposited in concentric layers. The ideal pearl is perfectly round and smooth, but many other shapes, known as baroque pearls, can occur. The finest quality of natural pearls have been highly valued as gemstones and objects of beauty for many centuries. Because of this, ''pearl'' has become a metaphor for something rare, fine, admirable and valuable. The most valuable pearls occur spontaneously in the wild, but are extremely rare. These wild pearls are referred to as ''natural'' pearls. ''Cultured'' or ''farmed'' pearls from pearl oysters and freshwater mussels make up the majority of those currently sold. Imitation pearls are also widely s ...
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