What affects the US economy
When the United States sneezes, economists say, the rest of the world catches a cold.
From 1995 to 2005, the United States was responsible for a third of global growth, according to the Council on Competiveness. In the period from 1983 to 2004, increasing US imports led to around 20 percent growth in world exports. According to a report by the Congressional Research Service, developing countries contributed by increasing their share of US exports from 32.8 percent (1985) to 47 percent (2006). The share of developed countries in US imports grew from 34.5 percent (1985) to 54.7 percent (2006).
After a weak review from March to November 2001, the US economy continued to grow averaging 2.9 percent from 2002 to 2006, while price inflation, unemployment and interest rates remained relatively low.
By various standards, the United States remains the most productive, competitive, and influential economy in the world. The US economy itself is increasingly being influenced by dynamic economies abroad. And she is confronted with challenges at home and abroad.
The United States economy is still one Market economy. Americans believe that an economy works best when decisions about production and pricing are made by the market, that is, by consumers and manufacturers, not by government or powerful private interests.
In addition to the view that free markets promote economic efficiency, Americans also see free markets as a means of spreading their political values - particularly in the context of their ideals of personal freedom, political pluralism, and the rejection of excessive concentrations of power. The American belief in that free enterprise does not rule out an important role for the government, however. American citizens turn to the government from time to time to segregate or regulate companies that appear to have so much power that they can defy the forces of the market. Citizens also depend on the government when they want to address certain areas such as education, environmental protection, etc., which are not sufficiently taken into account by the private sector. And while advocating market principles, Americans sometimes need their government to develop new industries and even to protect American businesses from competition.
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