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Reconfigurable Manufacturing Systems has been used in mining machinery industries to manufacture Load Haul Dump (LHD) trucks, multiple drilling bits such as the tricone bits, screen mesh of different aperture sizes which has contributed immensely to the 15.3% GDP achieved by the manufacturing sector in South Africa.
As we now know, TPP brings countries representing 40% of the world's economic activity closer in-line with an American-style legal regime, which values above everything else increased GDP achieved through super-powered multi-national corporations.
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A&L is assuming unemployment rises slowly, GDP achieves positive growth and house prices fall by up to 20% by the end of next year.
Doubling the spend of GDP to achieve this is neither here nor there.
With consumer spending accounting for more than half of the economy, the figures deliver a blow to hopes that GDP will achieve a strong recovery from the 0.6% contraction seen in the final quarter of 2010.
If lenders then made only half of the profits and capital gains in the Bank of Spain's scenario, they would have to find €140 billion in new capital, or 13% of GDP, to achieve a tier-1 ratio of 10%.
ECONOMY Although Argentina and Chile achieved GDP increases of 6.9% and 7.2% respectively in the year to the first quarter, both have slowed from the near-10% pace of last year.
IN FISCAL 1996 (which ends on March 31st), Japan will probably have achieved GDP growth of 2.5% or more, as forecast by the government.
If that could be achieved, GDP would grow by 2.7% compared with 1.6% for increasing the numbers working by 1% and the 1% boost gained from a 1% increase in productivity.
Of course, India is starting from a much lower GDP base, and just mathematically it takes a lot of GDP growth to achieve a high rate when you have a large GDP denominator.
Li Yuanchao, vice-president of China, told another session in Davos: "Despite the volatility in the world economy, China still achieved a GDP increase of over $500bn£352bnbn) [in 2015], which is estimated to be the largest in the world".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com