development has helped the Faroese Home Rule Government produce
increasing budget surpluses which in turn help to reduce the large
public debt, most of it owed to Denmark. However, the total
dependence on fishing makes the Faroese economy extremely
vulnerable, and the present fishing efforts appear in excess of what
is required to ensure a sustainable level of fishing in the long
term. Oil finds close to the Faroese area give hope for deposits in
the immediate Faroese area, which may eventually lay the basis for a
more diversified economy and thus less dependence on Denmark and
Danish economic assistance. Aided by a substantial annual subsidy
(15% of GDP) from Denmark, the Faroese have a standard of living not
far below the Danes and other Scandinavians.

Fiji:
Fiji, endowed with forest, mineral, and fish resources, is one
of the most developed of the Pacific island economies, though still
with a large subsistence sector. Sugar exports and a growing tourist
industry are the major sources of foreign exchange. Sugar processing
makes up one-third of industrial activity. Roughly 300,000 tourists
visit each year, including thousands of Americans following the
start of regularly scheduled non-stop air service from Los Angeles.
Fiji's growth slowed in 1997 because the sugar industry suffered
from low world prices and rent disputes between farmers and
landowners. Drought in 1998 further damaged the sugar industry, but
its recovery in 1999 contributed to robust GDP growth. Long-term
problems include low investment and uncertain property rights. The
political turmoil in Fiji has had a severe impact with the economy
shrinking by 8% in 1999 and over 7,000 people losing their jobs. The
interim government's 2001 budget is an attempt to attract foreign
investment and restart economic activity. The government's ability
to manage the budget and fulfill predictions of 4% growth for 2001
will depend on a return to stability, a regaining of investor
confidence, and the absence of international sanctions (which could
cripple Fiji's sugar and textile industry).

Finland:
Finland has a highly industrialized, largely free-market
economy, with per capita output roughly that of the UK, France,
Germany, and Italy. Its key economic sector is manufacturing -
principally the wood, metals, engineering, telecommunications, and
electronics industries. Trade is important, with e