Will be the Republic of Panama The next World Business Center?

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Outline

Page 1-2 .Thesis statement and introduction

Pages 2-5 .Strengths of the Republic of Panama that can lead to its establishment

as the world business center

Pages5-6 .Weaknesses of the Republic of Panama that can hinder its establishment

as the world business center

Thesis statement

Some economists believe that the Republic of Panama could become the next world business center but others are skeptical about it

Panama is a country in Central America that bs both the Caribbean

and the Northern Pacific Ocean between Colombo and Costa Rica .The geographical coordinates of panama are 900 N and 8000 W . Panama has an interesting history as a former colony of Spain starting from the 16th century up to 1821 when it broke ranks with Spain to affiliate with Colombia , Ecuador , and Venezuela to form the Gran Colombia . This lasted up to 1830 but nevertheless , Panama remained under the control of Colombia . It was through the US backing that Panama was able to break free from Colombia in 1903 when in return , the Panama government signed a treaty with the US to usher in the construction of Panama Canal by the US army corps of engineers . The construction lasted from 1904 to 1914 and upon completion the canal was to remain under the US control . It was until 1977 that an agreement was signed and subsequently ratified to complete the transfer of the Panama Canal from the US ' stewardship to Panama 's

This was after the deposing of the dictator Manuel Noriega in 1989 that the entire Panama Canal was transferred to Panama together with the areas supporting it , and the US military barracks - an exercise that was completely consummated at the turn of the 21st century . Panamanians have a project underway to double the canal 's capacity (Rigole , 2003 .This project is already underway since it began in 2007 and is expected to come to conclusion at the end of 2015

The strengths of the Republic of Panama

Panama 's climate is that of tropical maritime and is hot , humid and cloudy with a protracted rainy season starting from May to January and January to May being the dry season . Based on this , Panama , a country that has 24 .4 of its supply since it produces in large scale grain crops such as maize , rice wheat , cassava , potato , sorghum , millet , and industrial crops such as sugarcane , coffee , tropical timber , peanut , oranges and sesame . Other foodstuffs that are indigenous to Panama include beef (and this is due to the large scale cattle rearing activities in the country , and fishing . The fishing industries thrive herein due to the preponderance of shrimps and lobsters . Although the agricultural output of Panama is not large enough to sustain large scale exports , yet it is reliable enough to sustain steady food supply to sustain the entire population of Panama . An economy that can sustain its population 's food demand stands a higher chance to develop economically to become a business center than...