The International Monetary Fund released its Regional Economic Outlook report on the Western Hemisphere, and Latin America is expected to see "low" projections. Latin America and the Caribbean's economic activity is forecast to "stay in low gear" during 2014. However, the IMF report stated Mexico will experience economic growth due to the stronger recovery of the United States and "normalization" of domestic factors.
Recent reports have shown that the American middle class has been bested, and they are no longer the wealthiest among their global peers. The report documents the plummet of the American middle class, large pay disparities, and unbalanced distribution of wealth. The after-tax middle class income in Canada is higher than American wages. In addition, European low-income residents earn more than American low-income residents.
The months-long battle over tax incentives between Maryland officials and "House of Cards" executives ended Friday when they announced a deal had been struck, meaning the show would continue filming in Maryland.
Brazil, Russia, India, China and South Africa are five countries that comprise BRICS, a network of nations with major emerging national economies. These newly industrialized countries set themselves apart with their budding nominal growth, and their great influence on global and local affairs. Also G-20 members (group of 20 finance ministers and central bank governor from 20 major economies), the five countries represent an estimated $4 trillion (US) in foreign reserves and a combined grossed domestic product (GDP) of $16.039 trillion (US).