The US Economic Growth: the Foundations and Initiative

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Since winning World War I and World War II and the Cold War in 1991, the United States has been the only one global superpower. The US economic growth has steadily increased because of the lower unemployment and lower inflation rate, and especially the advanced technology.  The United States has become the most developed country and represents 24.4% of global GDP. The United States became a highly industrialized country nation.

The United States became a major lender to Britain to fight Germany and even helped rebuild the European economy after World War II. The United States is the richest in natural resources which worth $ 45 trillion and is the world’s largest importer and second largest exporter. There are121 out of the world’s 500 largest companies are based in the United States, the highest number of millionaires at  which account for $ 3,013 trillion which is more than the gross domestic product of India.

The United States has the largest trading partners with China, Canada, Mexico, Japan, Germany, South Korea, Britain, India, France and Taiwan. The US, world first largest economy, high-tech, high-service and innovative industries, has also been hit heavily by the coronavirus. The United States is the world’s largest economy with a GDP of more than $ 21 trillion. The US economy is based on high technology, innovation, services, small and medium businesses, and heavy industry. No country has a strong economic foundation as the United States. The United States has the highest level of security, geography, politics, human resources, and natural resources. However, US economy is based totally on the private sector. It is not good at all in the time of Global crisis as Corona.

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