User:The Oan Isles/sandbox/Asendavia
Economy
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Asendavia is classified as an upper income economy by the Auroran Monetary Fund and as a more economically developed country (MEDC) by the International Forum. It has the fourth highest nominal GDP of any country on Urth after Packilvania at SH$8 trillion as of 2023. The economy takes place in the form of a highly libertarian free-market economy. The country has relaxed social and labour protections, resulting in low levels of trade union participation, and among the longest hours worked per capita on Urth. With a well-educated workforce, and a capital-rich business landscape, Asendavia has a relatively low rate of unemployment at around 5% as of 2023. Nonetheless, due to competition with low-cost manufacturing and service outsourcing hubs in the developing world, real wages have largely stagnated over the past 10 years, causing net emigration to the affluent and culturally similar nations of West Novaris.
Asendavia is one of the most visited countries in the world due to its geography, biodiversity and the architecture and attractions of its major cities such as Stromharad, which is the the most visited cities above the 45th parallel. Coupled with its centrality in Ademarism and its close proximity to Ademarist-majority countries such as Cryria, Asendavia is the 2nd most visited country in the world for religious tourism after Great Morstaybishlia and ahead of 3rd placed Packilvania.
Asendavia is the most volcanically active country in the world. Despite its cold weather, the soil is fertile, liquid water precipitation is fairly high, and the natural geysers allow for substantial agriculture. Coupled with mechanized farming, artificial fertilizers, genetically engineered crops, and systematic irrigation, the country has been able to provide for most of its food needs in the area of basic foodstuffs. Growing is limited by the lack of sunlight and the high level of snow fall in the winter months. The country imports most of its fruit, and its agriculture sector produces hardy crops such as legumes, and grains such as wheat and barley. Livestock such as cattle and reindeer are an important source of protein through both their meat and dairy. Due to the high population of domesticated ruminants, Asendavia is the largest producer of animal-based methane emissions on Urth.
Asendavia's secondary sector's largest industries include shipbuilding, steel manufacturing, chemicals, and electricity. From its massive ferrous metals, and metallurgical-grade coal deposits (which rival Packilvania in total deposits and gross annual output), the country has been able to construct a massive steel manufacturing industry. The country is one of the largest producers of noble gas, oxygen, polymers, and industrial chemicals. With relatively laissez-faire regulations compared to its industrialized peers, Asendavia is the second largest emitter of carbon dioxide after Packilvania. The country is also a major producer of telecommunications equipment, pharmaceuticals and scientific instruments.
Compared to its developed peers, the country has been able to achieve relatively consistent economic growth rates of 3% to 4% such that it was able to recover from the 1998 recession caused by its over-leveraged property development conglomerates and lower-than-anticipated housing and office demand. The country has one of the largest capital markets in the world with its capital Stromharad being recognised as a regional financial center however it has been criticised by international organisations such as the Auroran Central Bank for lax regulations on financial disclosures.
Its biggest banks are members of the International Banking Exchange Cooperative. It has a total debt of SH$13 trillion and a total wealth of SH$70 trillion, making simultaneously one of the most in-debted and wealthiest nations by total assets in the world. The Jade Tavosar (JTV) is the sole legal tender and comprises around 3% of global trade, and the Asendavian Imperial Bank (the central bank) holds foreign exchange and precious metal reserves of SH$800 billion accumulated largely because of its moderate trade surpluses absorbed by developed capital markets such as the United Confederation of Concordian States and the United Nations of the Auroran Continent (a major source of consternation for policy makers in Ronald and Aura respectively).