0-01 season.

Spain:
Spain's mixed capitalist economy supports a GDP that on a per
capita basis is 80% that of the four leading West European
economies. Its center-right government successfully worked to gain
admission to the first group of countries launching the European
single currency on 1 January 1999. The AZNAR administration has
continued to advocate liberalization, privatization, and
deregulation of the economy and has introduced some tax reforms to
that end. Unemployment has been steadily falling under the AZNAR
administration but remains the highest in the EU at 14%. The
government intends to make further progress in changing labor laws
and reforming pension schemes, which are key to the sustainability
of both Spain's internal economic advances and its competitiveness
in a single currency area. Adjusting to the monetary and other
economic policies of an integrated Europe - and further reducing
unemployment - will pose challenges to Spain in the next few years.

Spratly Islands:
Economic activity is limited to commercial fishing.
The proximity to nearby oil- and gas-producing sedimentary basins
suggests the potential for oil and gas deposits, but the region is
largely unexplored, and there are no reliable estimates of potential
reserves; commercial exploitation has yet to be developed.

Sri Lanka:
In 1977, Colombo abandoned statist economic policies and
its import substitution trade policy for market-oriented policies
and export-oriented trade. Sri Lanka's most dynamic sectors now are
food processing, textiles and apparel, food and beverages,
telecommunications, and insurance and banking. By 1996 plantation
crops made up only 20% of exports (compared with 93% in 1970), while
textiles and garments accounted for 63%. GDP grew at an annual
average rate of 5.5% throughout the 1990s until a drought and a
deteriorating security situation lowered growth to 3.8% in 1996. The
economy rebounded in 1997-98 with growth of 6.4% and 4.7% - but
slowed to 4.3% in 1999. Growth increased to 5.6% in 2000, with
growth in tourism and exports leading the way. But a resurgence of
civil war between the Sinhalese and the minority Tamils and a
possible slowdown in tourism dampen prospects for 2001. For the next
round of reforms, the central bank of Sri Lanka recommends that
Colombo expand market mechanisms in nonplantation agriculture,
dismantle the governme