Political and Economic Conditions in Bhutan Sample Clauses

Political and Economic Conditions in Bhutan. Located on the eastern tip of the Himalayas, between northeastern India and the region of Tibet in China, Bhutan is a mountainous, land-locked country with a land area extending some 46,500km2. The country has a population of approximately 750,000 (2004), and its per capita GDP stands at US$870 (2005). Ever since the basis of the current kingdom was established in 1907, the country has been ruled by absolute monarchy. Xxxx Xxxxx Xxxxxx WANGCHUCK, the fourth king who ascended the throne in 1972[2], inherited the policy of modernization and democratization that the preceding king had adopted, and has been taking constructive measures toward national development. Special reference should be made to this king's unique country development philosophy called "Gross National Happiness (GNH)." Under this policy, the country has been striving to realize a fair and happy society that does not place disproportionate weight on economic growth. Bhutan has also been moving ahead with democratization and decentralization of power since 1998. As part of efforts to transit to parliamentary democracy based on limited monarchy, the country will hold the first general election and enact the constitution in 2008. In foreign affairs, Bhutan basically adopted a non-aligned, neutrality policy and neighboring friendship policy, and thus used to restrict its bilateral relations to those with India up to the 1950s. In the 1960s and afterward, however, the country opened up its doors to the global community, and joined the United Nations in 1971. Currently Bhutan has diplomatic relations with 21 countries including Japan, as well as with the EU. What's more, Bhutan acceded to the South Asian Association for Regional Cooperation (SAARC) as it pursues increased economic liberalization through greater integration into the regional and world economy. Japan has been providing grant aid and technical assistance since 1964, and the year of 2006 marked the 20th anniversary of the establishment of Japan-Bhutan diplomatic relations.
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