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Haiti .. International Economic Development

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Submitted By hfkwill
Words 1611
Pages 7
William Welch
ECS3013 – International Economic Development
Professor Bullman

Introduction
Haiti covers a total of 27, 750 sq. km in the Caribbean between the Caribbean Sea and the North Atlantic Ocean. Bordering the Dominican Republic to the west, Haiti is also one-third of the island of Hispaniola. The mountains in Haiti cause the terrain to be mainly rough and the climate to be semiarid in the East where the trade winds are eliminated. Western Haiti features a more tropical climate. Prominent natural resources of Haiti are copper, calcium carbonate, gold, and marble.
The population of Haiti is consisted of 9,801,664 individuals with 95% of individuals being ethnically black, and 5% being mulatto and/or white. French and Creole are the two official languages of Haiti. Regarding religion, the majority of Haitians are Roman Catholic (eighty percent), with the remainder of the population being Protestant, Baptist, Pentecostal, Adventist, Other, or None. A fascinating detail is roughly half of Haiti’s population practices voodoo.
The economy of Haiti can be described as a misadventure. Haiti is a free market economy, enjoying advantages of low labor costs and tariff-free access for many of their exports from the United States. Haiti is known for their textile, sugar refining, flour milling, and cement industries. In addition, corn, coffee, sugarcanes, mangoes, and wood are many of the products from agriculture that are present in Haiti’s economy. On the other hand, corruption, poverty, and poor access to education are three of Haiti’s paramount weaknesses. A devastating earthquake in January 2010 destroyed much of the capital of Haiti, Port-au-Prince and neighboring areas. This earthquake, measuring 7.0 in magnitude, inflicted roughly $7.8 billion in damage and contracted the country’s GDP around five percent for the year 2010.
Poverty and Inequality
Half of

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