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Switzerland's Industrialized Economy Beginning of Paper Switzerland’s has a developed industrialized economy, and has one of the highest standards of living. It is a major financial center of the world, and is known for it’s stable Swiss banks. Switzerland is known for it’s traditional secrecy regarding banking transactions. The .... Middle of Paper .... sector. On an annual average, inflation rose from 3.2 percent to 5.4 percent, which is worrisome because Switzerland is considered a low-inflation economy. On June 2, 1991 Swiss voters rejected a government sponsored tax which would have modernized Switzerland’s tax system by a tax called Value Added Tax. The Swiss currency is called the Swiss Franc, and 1.5 francs equal one U.S. dollar. The new common currency adopted early this year called the Euro, was rejected by Switzerland, although eleven nations participated. Therefore, Swit .... 639 words | 3 pages Subscription Length Price Join 30 days membership (recurring) $19.95 90 days membership (recurring) $39.95 180 days membership (non-recurring) $69.95