The U.S's Competitive Economy

The U.S.'s Competitive Economy Video It is hard now to recall how smug we once felt about the US. We saw America blessed wit its flexible innovative work force as the most dynamic economy in the world. Our bankers jetted around the world lecturing other nations on how to run their economies. Boy I think it is changed. Today, our makers look like fools. Our manufacturing sector is collapsing, unemployment is headed towards 10 percent and many view the US as a ‘has been’ economy about to be lapped by China. After all, China owns more than 1 trillion dollars of our death and it grows twice as fast in a bad year as we do in a great one. But that is not the whole story some shrinkage and American dominants was inevitable even desirable but the US will remain the global economy’s alpha dog. Let us start with the numbers, the US wit a grows domestic products of 14 trillion dollars is more than three times a size of number two, Japan. It produced 10 trillion dollars more than China in a year. If China grows 10 percent a year between now and 2020 and the US grows 2 and ½ percent, the US would still be a third larger. In competitiveness we also have a huge lead. According to the world economic forum, the US is the worlds most competitive economy was trunks in entrepreneurship, innovation and research and development. China is thirtieth just ahead of the United Arab Amorist. The dollar despite these problems remains the preferred currency of international exchange. The Chinese Yuan which is systematically under value they are not freely convertible is no one’s choice for a replacement. Think of it this way. In 1950 the US accounted for more than half of global GDP but back then China was communist. Europe and Japan were digging out literally from World War II. Now the US accounts for about 24 percent of all GDP it is a smaller presence but on a more prosperous block and in the end is not that what we want?