A Report On The Swiss Confederation - 1035 Words

In 1291, the Swiss Confederation was founded. In 1499, the Swiss Confederation obtained independence from the Holy Roman Empire. Finally, in 1848, a constitution was created that replaced the confederation with a centralized federal government. Today, the Swiss Confederation is most commonly known as Switzerland, one of the world’s richest and most innovative countries (The World Factbook: SWITZERLAND). In efforts to determine whether our firm should pursue business engagements in Switzerland, I, Paula Cuerquis, Senior Macroeconomist at our multinational corporation, created a report that outlines the overall macroeconomic conditions of the country of interest. In this report, I will be providing an assessment of Switzerland’s current†¦show more content†¦An example of this problematic dependence occurred in 2008 during the global financial crisis that resulted in the economic downturn in 2009. During this time, the demand for Swiss goods plummeted putting Swit zerland into a recession. While the Swiss National Bank, SNC, implemented a zero-interest rate policy that rejuvenated the economy, the domino effect that occurred due to this economic downturn resulted in the strength of the Swiss franc but also weakened the competition for trade and weakened the economy’s growth outlook (The World Factbook: Switzerland). As you can see in the image to the right, as of 2015, 43.4% of Swiss exports are generated by the European Union (Switzerland - Country Profile). An important thing to note here is that the Swiss economy is open to foreign investment. According to Heritage.org, Switzerland ranks a score, out of 95.0, of 90.0 in regards to Trade Freedom, 85.0 in Investment Freedom, and an increasing 90.0 score in regards to Financial Freedom. Sitzerland’s capitalizes on their openness to trade with industrial products but with a protected agricultural sector (Switzerland). Forbes ranked Switzerland #16 as one of the best countries for business. Moving forward, like I touched upon earlier, with a population of 8.1 million people, it’s astonishing how only 4.6% of Switzerland’s labor force is unemployed. Switzerland averages wages of $58,389 (US dollar), employment rates of 81.3%Show MoreRelatedSwitzerlands Economy: The Swiss Phenomenon Essay2063 Words   |  9 Pageshighly skilled labor force, high wages, and an extremely profitable export trade market. Switzerland’s long history of political stability, neutrality in world affairs, and direct democracy system has created the backbone to what has been called â€Å"the Swiss phenomenon† by National Geographic. Switzerland’s economy is built on a highly skilled labor force and a strong service sector. Switzerland’s manufacturing industry specializes in technological innovation and knowledge-related production. 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However, the French invasion of 1798 was to be a turning point in the country’s history, ushering in the first of several changes in governmentRead MoreHedging Currency Risk at TT Textiles7016 Words   |  29 Pagesthe sunlight stream in through his office windowpane. But his mind was elsewhere, tracking the movements of the Swiss franc (CHF) in the last few months and the world events that had caused them. The Swiss franc had touched 1.17 CHF/US$ from the previous year’s record of 0.96CHF/US$. That was good news for him. Or was it? The irony of the situation was not lost on him. Once, the Swiss had franc barely figured among all the different currencies that vied for his attention in the normal course of things