The Valentian Economy in greater detail. Valentian Credits as Currency (1 VC = 2.07 NationStates Dollars).Rough exchange rate: 1,00 Valentian Credit = 2,07 NSD (NationStates Dollars).
An industry involved in the extraction and collection of natural resources, such as copper and timber, as well as by activities such as farming and fishing. A company in a primary industry can also be involved in turning natural resources into products. Primary industry tends to make up a larger portion of the economy of developing countries than they do for developed countries. The primary sector is concerned with the extraction of raw materials. It includes fishing, farming and mining.
It was sufficing to say that farming became much more modernized, using the readily available technology that Valentine Z has to offer, as well as the usage of green and clean sources of energy to grow such food. Chemicals such as pesticides and insecticides are used to a much lesser degree, with DNA strain manipulation becoming much more advanced and making the crops 99% resistant to insects and pests.
A few other industries, while necessary, are designated as “environmentally damaging”, and these include, but not limited to: mining and timber/woodcutting industries. As aforementioned, they are necessary in order for the enjoyment and usage of the Valentians (such as wooden furniture, or mining for rare earth metals), but the industries are highly regulated and since owned by the Valentian Government, they have the full liberty to restrict it to the extent they see fit.
This sector generally takes the output of the primary sector and manufactures finished goods or where they are suitable for use by other businesses, for export, or sale to domestic consumers. This sector is often divided into light industry and heavy industry. Many of these industries consume large quantities of energy and require factories and machinery to convert raw materials into goods and products. They also produce waste materials and waste heat that may cause environmental problems or cause pollution. The secondary sector supports both the primary and tertiary sector.
Essentially speaking, Manufacturing is more or less existent in Valentine Z, though not as huge. While most of them are owned by the Valentian Government, a select few of them are owned by private firms.
Indeed, there are countless number of manufacturing plants dotted across the entire world of Valentine Z, but the production rates are rather low. This is due to the expensive nature of raw materials such as wood, rare metals, metals, and so on, while the cost of producing new materials such as plastic and Styrofoam are raised to rather extreme levels. All of this was intentional by the Valentian Government, opting and encouraging people and businesses alike to practice the 3Rs (reduce, reuse, recycle) as much as possible. Of important note is that even the Valentian Government is aware of the fact that some of the items are non-recyclable for hygienic or other reasons and as a result, even when manufacturing and creating new materials, they urge the companies to make them as biodegradable as possible.
Technological devices such as smartphones, TVs, game consoles, among many others, are also created with the Valentian Technological Institution (VTI) keeping a keen and close eye on the industry. The companies creating new devices must ensure two things:
That the devices absolutely do not have planned obsolesce in mind, i.e. they must not be designed so that they are easily disposable or are outdated when a newer device with better features hit the market. A RL counterexample would be the smartphones from the famous brands that are released on an annual basis, with some people switching phones as soon as the new one hits the scene.
The devices must be able to withstand at least an IP68 worth of abuse and damage, to be built like a military device would. This is to ensure the longevity of the devices, as well as prevent companies from asking exorbitant prices for device repairs, and the implication that a fragile device is easily replaced soon when a new device is released into the market (see above point).
The devices are modular, and the modules are easily replaceable, recyclable, or processable. Similar to modular phones and devices that have been seen and observed in the RL world, this means that the devices will never become obsolete as long as there are software updates, coupled with modules that users can simply tack on to their devices to add or improve the current features. For example, CPU and GPU on laptops are easily replaceable with a much better one instead of buying a new one, and the old parts are easily recyclable (i.e. they can be disassembled, plastic parts repurposed or built for something else, and the precious metals melted easily.)
As a result of these points, Valentian technology is known to be rather bulky and at some points, becoming unwieldy or unappealing to look at, but users praise it for the very fact that they are built to last an eternity, e.g. an average smartphone’s lifespan used to be 2-4 years old, but for the Valentian devices, they can easily last 30-40 years with upgrades.
The Valentian Environment Agency (VEA), a branch created by Chief Senator Shannon, is the leading body for this, ensuring that the products created by the industries and companies adhere to the standards as much as possible.
The service sector consists of the production of services instead of end products. Services (also known as "intangible goods") include attention, advice, access, experience, and affective labor. The production of information has long been regarded as a service, but some economists now attribute it to a fourth sector, the quaternary sector.
The tertiary sector of industry involves the provision of services to other businesses as well as final consumers. Services may involve the transport, distribution and sale of goods from producer to a consumer, as may happen in wholesaling and retailing, pest control or entertainment. The goods may be transformed in the process of providing the service, as happens in the restaurant industry. However, the focus is on people interacting with people and serving the customer rather than transforming physical goods.
Such examples of Tertiary Industry include telecommunication, tourism, healthcare, waste disposal, information technology, education, financial services, retail, amongst many others. The tertiary industry more or less is shared between the Valentian government and private firms, depending on the industries. Services that are considered “essential to the progression and development of Valentians as a whole”, such as healthcare, waste disposal, education, and telecommunication, are 100% controlled by the Valentian government, with the funding coming from the taxation that it receives from its people.
Other industries such as retail and information technology are more or less controlled by the private firms and corporations, though as with other industries and agreements, the Valentian government looks over them and protects both the consumers and the companies themselves in case of a slip-up.
The quaternary sector of the economy is a way to describe a knowledge-based part of the economy, which typically includes knowledge-oriented economic sectors such as information technology, media, research and development; information-based services such as information-generation and information-sharing; and knowledge-based services such as consultation, education, financial planning, blogging, and designing. The quaternary sector is based on knowledge and skill. It consists of intellectual industries providing information services, such as computing and ICT (information and communication technologies), consultancy (offering advice to businesses) and R&D (research, particularly in scientific fields). According to some definitions, the quaternary sector includes other pure services, such as the entertainment industry, and the term has been used to describe media, culture, and government. "Quaternary sector" is a further delineation of the three-sector hypothesis of industry in the sense that the quaternary sector refers to a part of the third or tertiary sector along with the quinary economic sector. Intellectual services are sometimes regarded as distinct enough to warrant a separate sector and not be considered merely as a part of the tertiary sector. This sector evolves in well-developed countries where the primary and secondary sectors are a minority of the economy, and requires a highly educated workforce.
Due to the intangible nature of it, most of the quaternary industry is controlled by the private firms and corporations (~80% of the profit and revenue comes from them), while the Valentian government only interferes when necessary and generally leaves them alone to provide, as defined, “a censorship-free media without any interference from the government”.
Overall, we can see that for Primary and Secondary Industries, the Valentian Government more or less has a say in everything, while the Tertiary and Quaternary Industries are left mostly to the private corporations to develop. This is all because of the fact that as per definition, the Valentian Government’s interference is only towards the size of the companies and their behaviour towards the people and the environment, not on the freedom of information and flow of products. Media and non-tangible related industries are free to dispatch whatever information they please, as long as it’s truthful and non-conspiracial towards any entity.
More about the specific industries can be found here:
Percentage of Revenue / Industry Size
Accommodation (NAICS 721)
Accommodation and Food Services (NAICS 72)
Administrative and Support and Waste Management and Remediation Services (NAICS 56)
Administrative and Support Services (NAICS 561)
Agriculture, Forestry, Fishing and Hunting (NAICS 11)
Air Transportation (NAICS 481)
Ambulatory Health Care Services (NAICS 621)
Amusement, Gambling, and Recreation Industries (NAICS 713)
Animal Production (NAICS 112)
Apparel Manufacturing (NAICS 315)
Arts, Entertainment, and Recreation (NAICS 71)
Beverage and Tobacco Product Manufacturing (NAICS 312)
Broadcasting (except Internet) (NAICS 515)
Building Material and Garden Equipment and Supplies Dealers (NAICS 444)
Chemical Manufacturing (NAICS 325)
Clothing and Clothing Accessories Stores (NAICS 448)
Computer and Electronic Product Manufacturing (NAICS 334)
Construction (NAICS 23)
Construction of Buildings (NAICS 236)
Couriers and Messengers (NAICS 492)
Credit Intermediation and Related Activities (NAICS 522)
Crop Production (NAICS 111)
Data Processing, Hosting, and Related Services (NAICS 518)
Education and Health Services
Educational Services (NAICS 61)
Electrical Equipment, Appliance, and Component Manufacturing (NAICS 335)
Electronics and Appliance Stores (NAICS 443)
Fabricated Metal Product Manufacturing (NAICS 332)
Finance and Insurance (NAICS 52)
Fishing, Hunting and Trapping (NAICS 114)
Food and Beverage Stores (NAICS 445)
Food Manufacturing (NAICS 311)
Food Services and Drinking Places (NAICS 722)
Forestry and Logging (NAICS 113)
Funds, Trusts, and Other Financial Vehicles (NAICS 525)
Furniture and Home Furnishings Stores (NAICS 442)
Furniture and Related Product Manufacturing (NAICS 337)
Gasoline Stations (NAICS 447)
General Merchandise Stores (NAICS 452)
Health and Personal Care Stores (NAICS 446)
Health Care and Social Assistance (NAICS 62)
Heavy and Civil Engineering Construction (NAICS 237)
Hospitals (NAICS 622)
Information (NAICS 51)
Insurance Carriers and Related Activities (NAICS 524)
Internet Publishing and Broadcasting (NAICS 516)
Leather and Allied Product Manufacturing (NAICS 316)
Leisure and Hospitality
Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) (NAICS 533)
Machinery Manufacturing (NAICS 333)
Management of Companies and Enterprises (NAICS 55)
Manufacturing (NAICS 31-33)
Merchant Wholesalers, Durable Goods (NAICS 423)
Merchant Wholesalers, Nondurable Goods (NAICS 424)
Mining (except Oil and Gas) (NAICS 212)
Mining, Quarrying, and Oil and Gas Extraction (NAICS 21)
Miscellaneous Manufacturing (NAICS 339)
Miscellaneous Store Retailers (NAICS 453)
Monetary Authorities - Central Bank (NAICS 521)
Motion Picture and Sound Recording Industries (NAICS 512)
Motor Vehicle and Parts Dealers (NAICS 441)
Museums, Historical Sites, and Similar Institutions (NAICS 712)
Natural Resources and Mining
Nonmetallic Mineral Product Manufacturing (NAICS 327)
Nonstore Retailers (NAICS 454)
Nursing and Residential Care Facilities (NAICS 623)
Oil and Gas Extraction (NAICS 211)
Other Information Services (NAICS 519)
Other Services (except Public Administration) (NAICS 81)
Paper Manufacturing (NAICS 322)
Performing Arts, Spectator Sports, and Related Industries (NAICS 711)
Personal and Laundry Services (NAICS 812)
Petroleum and Coal Products Manufacturing (NAICS 324)
Pipeline Transportation (NAICS 486)
Plastics and Rubber Products Manufacturing (NAICS 326)
Postal Service (NAICS 491)
Primary Metal Manufacturing (NAICS 331)
Printing and Related Support Activities (NAICS 323)
Private Households (NAICS 814)
Professional and Business Services
Professional, Scientific, and Technical Services (NAICS 54)
Publishing Industries (except Internet) (NAICS 511)
Rail Transportation (NAICS 482)
Real Estate (NAICS 531)
Real Estate and Rental and Leasing (NAICS 53)
Religious, Grantmaking, Civic, Professional, and Similar Organizations (NAICS 813)
Rental and Leasing Services (NAICS 532)
Repair and Maintenance (NAICS 811)
Retail Trade (NAICS 44-45)
Scenic and Sightseeing Transportation (NAICS 487)
Securities, Commodity Contracts, and Other Financial Investments and Related Activities (NAICS 523)
Social Assistance (NAICS 624)
Specialty Trade Contractors (NAICS 238)
Sporting Goods, Hobby, Book, and Music Stores (NAICS 451)
Support Activities for Agriculture and Forestry (NAICS 115)
Support Activities for Mining (NAICS 213)
Support Activities for Transportation (NAICS 488)
Telecommunications (NAICS 517)
Textile Mills (NAICS 313)
Textile Product Mills (NAICS 314)
Trade, Transportation, and Utilities
Transit and Ground Passenger Transportation (NAICS 485)
Transportation and Warehousing (NAICS 48-49)
Transportation Equipment Manufacturing (NAICS 336)
Truck Transportation (NAICS 484)
Utilities (NAICS 22)
Warehousing and Storage (NAICS 493)
Waste Management and Remediation Services (NAICS 562)
Water Transportation (NAICS 483)
Wholesale Electronic Markets and Agents and Brokers (NAICS 425)
Wholesale Trade (NAICS 42)
Wood Product Manufacturing (NAICS 321)
Valentian Credits - Front Sides
OOC Disclaimer: While designed by myself in Photoshop, many credits go to the original creators, as well as producers of the art pieces/games/characters/etc. These notes are for fictional purpose only, and are NOT legal tender for RL use.
The 1st Generation Notes, while still legal tender, are now superseded by the 2nd Generation. The 1st Generation is to be quietly discontinued due to a slight graphical overhaul, as well as errors in the values and names. Some of the notes are more ceremonial or to celebrate a jubilee, or anything else. For example, 14 VC is produced to commemorate the significant event of Valentina making her way into the Valentian World.