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Essay / Research Paper Abstract
This 3-page paper is an analysis of "Slow Growth Seen for California Economy in 2003," which was written by Michael Kahn for Reuters. The paper examines why California's economy has been so slow to recover from the dot-com bust and how it has impacted the state's economy. Bibliography lists 1 source.
Page Count:
3 pages (~225 words per page)
File: D0_MTforart.rtf
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Unformatted sample text from the term paper:
Growth Seen for California Economy in 2003," which was written by Michael Kahn for Reuters. The reason why we chose this particular
article is because in many ways, California has represented a variety of extremes -- for example, the high-tech boom got its start in California, thanks to Silicon Valley. By
the same token, California had suffered from energy deregulation. Now, according to Mr. Kahns article, this states economy is suffering as well.
Kahn succinctly outlines in the very first paragraph of his article why the states economy is going to be slow during 2003. He mentions Californias budget shortfall, a
"battered technology sector and a week U.S. economy," as other reasons why the growth in "the nations most populous state" will likely remain stagnant throughout 2003 (Kahn, 2003). He also
indicated that in the recent past, Californias economy has lagged behind national norms (Kahn, 2003). Part of the reason for Californias economic
drop has been because, as we mentioned above, the high-tech boom got its start in California, boosting the economy to "dizzying heights during the Internet boom" (Kahn, 2003). It only
stood to reason therefore, that once the slump came, California would be hardest hit, as much of its economy has been based on the high-tech sector. In fact, these
days, the high-tech sector, which is in a terrible slump, "now represents a drag on what is one of the worlds top 10 economies ranked by overall production," Mr. Kahn
writes (Kahn, 2003). The industry downturn had a direct impact on stock options and capital gain revenues that had once supplied the
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