help [HELP] Esonice’s economy

[Esonice]

(anyone can join in!)

Hey guys! @Iverica @Heiheguo @Sunset Sea Islands @Andalla @Mauridiviah

Sorry to bother you all! I wanted to talk to all of you about my economic standing in the region/wurld, historical trade, investment, and why I am in the “trillionaire club”. I have been asked to justify my GDP and economy through past rp or explaining it. It's also going to greatly help me find my place on Eurth and allow me to rp with everyone. 

 

The ideas I have come up with of how Esonice became a high income nation relates a lot to international trade and foreign investments by other nations and businesses coming into Esonice, including Esonian services and companies being able to venture into other states. 

The way I have thought of how this could have happened in Esonice is an economic boom that started during the 70s and lasted up into the early-mid 90s. 

It started with Esonice’s new post-Thalassan and civil war democratic government (Something I am yet to discuss with both SSI and Andalla in detail) that adopted capitalist policies during the 50s and encouraged citizens to exercise their new economic freedoms across the nation and start opening their own businesses with government support. During this time mining: especially of Esonice’s deposits of gemstones, would be absolutely critical for Esonice to have any sort of economic life line as other sectors would be in ruin after the regional and civil wars.

 

Currently in Esonice’s resource design currently -

(Gems)

• Emeralds 
• Fluorite 
• Jasper
• Hematite
• Tiger eye
• Kornerupine
• Quartz 
• Rose Quartz
• Amethyst
• Citrine
• Pearls
• Lapis Lazuli
• Hauyne

 

(Metals)

• Silver
• Copper
• Zinc
• Iron
• Gold

(clays and stones)

• Kaolin
• Limestone
• Marble

 

Because of this, the Esonian government was desperate to get back into the gem market, this prompted the idea of the new gem road (a historic trade route between Esonice and wider Alharu through Heiheguo), an initiative allowing companies and nations to come to Esonice and have a part in gem mining (among other metals/resources), bringing in foreign investment into the economy. With that money, the Esonian government started putting a lot of money into education with the intent of improving schools, rebuilding and building new ones, starting new programs for students to develop and encourage skills, and educating the next generation of Esonice. Other places the government would be putting money into would be small business owners to help them kickstart their venture, and rebuilding infrastructure and homes. 

 

During the 60s Esonice’s labour force started increasing as Esonice’s population recovered from post-war numbers and jumped from 18m in 1941 to 23m in 1964, with more people returning back to the job market, the nation’s labour pool experienced an abundance of new young talent. People were willing more than ever in recent decades to take risks and gain returns. Esonice also saw the return of its textile industry which started helping fuel the economy alongside mining. Esonian government also during this time lowered corporate taxes and partnerships among businesses started to increase. Due to this the economy started accelerating at a steady rate. The Esonian government also took keen interest in starting to move the nation from a third world into a second world one and began manufacturing ventures such as creation of machinery, machine parts and tools that were then exported to foreign businesses. With Esonice’s economy showing strength, this further encouraged the populace to start economic ventures; especially into new sectors such as retail and creation of consumer products, Esonice’s entertainment and media sector came into existence during this time too. Many modern businesses such as KaoKao came into existence during the ending years of the 60s. As the 70s began, foreign businesses started taking keen interest in Esonice’s rising consumer market and started investing into the economy and ventured into the nation opening new jobs. Esonian businesses also started doing the same as new trade agreements with nations were signed which allowed them to spread into foreign nations bringing their services with them. All this has led to the year 1976 which marked the beginning of Esonice’s economic boom and Esonice’s skyrocketed right into being a solid second world economy.

 

Esonice fully transitioned into being a manufacturing hub by 1978 and the average GDPl per capita grew tremendously over the past few years. Women also started having a bigger part in the workforce, expanding the labour pool even further as women took on jobs alongside home caring activities. Internationally there started being an increased interest in Esonian products, and brands like KaoKao including luxurious brands such as Virosuchi/Red Sun and Miyo started gaining recognition which furthered the economic boom. Many brands used Esonice's gem abundance to create jewellery, watches among many other products. The 80s were an exciting decade for Esonice as the population approached 30 million and people were more free to do things than ever before in recent memory and unemployment was the lowest it's ever been. This caused an Esonian cultural revival and renaissance: Esonian animation, music and popular media came into the public light in the nation, and artists, musicians and writers were encouraged. Esonian culture and traditions were upheld and integrated into the growing urbanised and modernised society. Electronics and tech during the 80s also was seen as a major sector the government wanted manufacturing to go, and a necessary sector for Esonice to transition into a first world economy, including finance, digital technologies and tourism. This was reflected in Esonice’s education curriculum with students being encouraged to get into subjects such as science, mathematics, medicine, tech and engineering. Esonice’s gaming industry also came into existence during the late 80s and received popularity nationally. The government started putting out tourism campaigns internationally to encourage foreigners to visit and spend in the nation. By the 1990s Esonice’s GDP passed the 1 trillion mark and the finance sector started growing alongside a young digital market and more tourists start visiting the nation. But as Esonice started entering the information age with the rest of the wurld in 1995, the economic boom Esonice experienced for nearly a little more than 2 decades started to slowly wear off. By 1998, Esonice transitioned into a high income first world nation and the economic boom before it was called by academics as the “Esonian Tiger”. Esonice’s economy continued to steadily grow as the IT sector entered into existence in Esonice and the internet started to be popularised in the mainstream. But as 2007 approached the Esonian economy started feeling the warning signs of crisis and economic growth got stifled and experienced near collapse causing unemployment to skyrocket in 2007 with the banking crisis. This continued into 2008, but by 2009 the Esonian economy started recovering and economic growth returned, though not as powerful as it used to be during the 90s and early 2000s.

Please feel free to criticise this and give your opinions and ideas! And if you would be interested in having economic relations, investing, your businesses coming to Esonice, taking part in the new gem trade from the 50s/60s. And up to things in the information age! Maybe they could lead to past rp too?

[Orioni]

Thank you @Esonice for the reminder. Reading your description of the economic situation and evolution, I get the feeling you're positioning yourself with the role of:

1. an exporter of rare Eurth metals, minerals and gems; and
2. an exchange and distributor for similar resources going to and leaving Alharu.

For the 1st role as exporter, your description story of economic recovery and investment would work very well. I like the reference of the "Esonian Tiger" model. The RL analogues of Bolivia (Lithium) and Chile (copper) spring to mind.

• https://en.wikipedia.org/wiki/Economy_of_Bolivia#Mining
• https://en.wikipedia.org/wiki/Economy_of_Chile#Top_exports

For the 2nd role as exchange, your trade partners probably expect some form of stability. The investments in education can be a bonus here. The reference to recent war is perhaps more negative. Then again, with Esonice being an island, perhaps your country was less affected by the war you mentioned. Another factor that could contribute to your reputation as reliable exchange is the presence of a monarchy. I'm reminded of the role of the RL United Kingdom and London as one of 3 financial capitals (besides New York and Tokyo).

• https://en.wikipedia.org/wiki/Economy_of_the_United_Kingdom#Financial_and_business_services

I cannot comment on the particular resources you mention. My experience with this distribution is too limited for my advice to be of any value. But I suspect you may get more constructive feedback from @Sunset Sea Islandswho is currently studying geography at university. His knowledge and experience can help answer your questions.