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Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Countries with high budget deficits (relative to their GDPs) generally have more difficulty raising funds to finance expenditures, than those with lower deficits." [12]
The European balance of power is a tenet in international relations that no single power should be allowed to achieve hegemony over a substantial part of Europe. During much of the Modern Age, the balance was achieved by having a small number of ever-changing alliances contending for power, [1] which culminated in the World Wars of the early 20th century.
The potential for the two countries to form stronger relations to address global issues is sometimes referred to as the Group of Two. Barry Buzan asserted in 2004 that "China certainly presents the most promising all-round profile" of a potential superpower. Buzan claimed that "China is currently the most fashionable potential superpower and ...
Kennedy argues that the strength of a Great Power can be properly measured only relative to other powers, and he provides a straightforward thesis: Great Power ascendancy (over the long term or in specific conflicts) correlates strongly to available resources and economic durability; military overstretch and a concomitant relative decline are the consistent threats facing powers whose ...
1866 cartoon by Daumier, L’Equilibre Européen, representing the balance of power as soldiers of different nations teeter the earth on bayonets. The balance of power theory in international relations suggests that states may secure their survival by preventing any one state from gaining enough military power to dominate all others. [1]
The 2020 deficit, in terms of its relationship to the economy, represented 15.2% of total gross domestic product, the sum of all the goods and services produced by the country.
They also set the record for largest overall deficit overcome to win a Super Bowl, ... White ran the ball two yards into the end zone to complete the greatest comeback in Super Bowl history ...
World map by current account balance (% of GDP), 2023, according to World Bank [1]. This is the list of countries by current account balance, expressed in current U.S. dollars and as percentage of GDP, based on the data published by World Bank, United Nations Conference on Trade and Development and Organisation for Economic Co-operation and Development.