Isabela Padilha Vilela
|Handling of Market Forces
|Although the UK has a mixed economy, the private sector plays a vital role in the nation's economy. In contrast to other course countries, the UK is the country that most privatizes its national resources although there is a certain level of regulation.
|In comparison to other nation, China is the country that least privatizes its natural resources. In China there are Special Economic Zones (SEZs) which are regions along its east coast that have a more "liberal" handling of the economy. That means that government regulations in those areas are looser because the government wants to promote growth there.
|Mexico's economy relies on its abundance of oil. One of the largest companies of the country is the oil company PEXEM, which stands for Petróleos Mexicanos. In recent years the government has made efforts to privatize sectors of the company to increase competition within the Mexican oil and natural gas market.
|In the 1970s a great amount of oil was found in Nigeria leading to the creation of the Nigerian National Petroleum Corporation (NNPC). This is a state-owned company and it is crucial for Nigeria's economy. Although it is controlled by the government, the NNPC has engaged in joint activities with other nations to extract and produce oil. There is still space for the Nigerian government to fulfill its national goals, but contributing with other countries has also led to economic growth.
|Under the government of Vladmir Putin there have been some instances of nationalization or re-nationalization. For instance, Yukos, an oil company, was integrated into the state-owned company Rosneft, after the company's founder was accused of fraud and corruption. Putin has also limited foreign direct investment in the country.
|The lack of transparency of state-owned enterprises in Iran is detrimental to its economy. The country is still reliant on oil as its main economic activity, but it its trying to stray away from it. Nevertheless, its struggle to integrate in the International market after the imposition of sanctions only furthers its economic challenged.