Impact of USA Recent Development in Globlization

Added on -2020-02-05

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USA CONTRIBUTIONTO WORLD ECONOMY
Table of ContentsUSA CONTRIBUTION TO WORLD ECONOMY.......................................................................1INTRODUCTION...........................................................................................................................3Executive summary......................................................................................................................3Part 1................................................................................................................................................31) USA's Recent Developments...................................................................................................3Part 2................................................................................................................................................51) Evaluation of Priority Factors.................................................................................................52) Maintaining and Enhancing Political And Economic Power..................................................63. International trade....................................................................................................................8CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................102
INTRODUCTIONExecutive summaryGlobalization over the past years has been increased to a great extent due to the changingneed of business as well as people. In order to provide additional services to its customers,businesses have taken a route to foreign markets to serve large customer base and provide themwith the utmost comfort. This report deals about the impact of USA's recent developments inglobalization on the world’s economy and further more how USA can maintain and enhance itsposition in the world in relation with the economic and political power. Various national marketsare joining hands which have created a buzz around the global markets and due to taste andpreferences of consumers are changing rapidly and trade barriers have started to loosen up it iseasier to sell globally.PART 11) USA's Recent DevelopmentsUnited States Economy is often seen as leader of the world economy and thus any defaultor slowness in United States economy becomes a concern for the other countries. As per thereports, USA's economy is the second largest in relation with purchasing power parity, which iftalk about numbers goes to 22% of Global GDP and GWP is 17%. U.S Dollar is the internationalcurrency used in the international transactions(Chen and et.al, 2016). US government has fullbelief in their economy to reimburse its debts, if any. Talking about the developments ofeconomy of USA in 21st century, USA has experienced the crisis in 2008 which was due to thederivatives market and subprime mortgage crisis which eventually resulted in the decline ofdollar value. USA's GDP grew by 1.7% from 2000 to 2014. USA's Public debt has grown higherin recent years which are:In 1980, it was $909 billion, equals to 33% of America's GDP.In 1990, it was $3.2 trillion or 56% of GDP.In 2001, No change was witnessed in the public debt.In 2009, it was nearly 80%.In addition to those, it was estimated that government cost for servicing the debt can exceed$700 billion up to the year 2019.The household incomes in United States have become more3

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