Before Bill Clinton presidency, America was in a economical deficit state but after Clinton presidency the country was in a economical surplus, but when George W Bush left office, America was in an economical deficit because the government has been overspending and spending more money than they receive from taxes. This shows a trend, because America has went from a deficit to a surplus and back to a deficit. This deficit had only worsen until 2013, where the economy finally began to rise again which shows the trend of rise in economy again. According to article 2, published by Abc business news, America’s economy has risen 4.1 percent which was caused by an increase in consumer spending, mainly in health care. All this clearly makes readers infer that America’s trend is happening, and that now is when America is slowly trying to regain its economy. This rela...
... middle of paper ...
...2028 China would have replaced America in its ‘number one’ economic position in terms of economics and much will change in terms of business and economics but America would still be a very influential and powerful economic country because America will be the second most economically powerful country.
“Fact Check. "The Budget and Deficit Under Clinton.” FactCheckorg. FactCheckorg, Feb.-Mar. 2008. Web. 31 Jan. 2014.
“US Economy Expands at 4.1 Percent Rate.” ABC News. ABC News Network, n.d. Web. 21 Dec. 2013.
“No Rush to Rebalance China's Economy.” Http://news.xinhuanet.com/. Ed. Peng Fu. Xinhuanet English.news.cn, n.d. Web. 11 Feb. 2014.
“China's Century: 'More and More Economies Will Want to Trade in Yuan’.” - RT Op-Edge."China's Century: 'More and More Economies Will Want to Trade in Yuan' - RT Op-Edge. Rt.com, 04 Dec. 2013. Web. 11 Feb. 2014.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- The twentieth century in China was one of the more turbulent times in the nation’s history with large amounts of Economic, Social and Political change from 1900-2000 some of the largest changes to the traditional imperialistic china came about with the foundation of the People’s Republic of China and the introduction of Communism through Chinese Communist Party’s ascension to power and the beginning of the Maoist Era and multiple other turning points. Major points of change in this period include The May 4th Movement of 1919 and the 3rd Plenary Session of the 11th Central Committee of the Communist Party of China, A turning point can be identified as a time at which a decisive change in a si... [tags: People's Republic of China, Mao Zedong]
1257 words (3.6 pages)
- Is the lifestyle of people in Europe and the USA a major cause of China’s environmental problems. One of China’s best successes has in turn been one of its biggest downfalls. One of the main problems is China’s greatest success which has been its phenomenal economic growth. This is one of the main drivers of the current environmental problems that the country faces. Factories dump pollutants into the air and water. It is difficult to see the Chinese government making the significant sacrifices required to improve their environment if it means slowing down their economic growth.... [tags: Impact USA on China’s Environment]
1755 words (5 pages)
- China, a fast-developing country in the 21st century has a long way to go to catch up with America, a well-developed country. The differences between the two countries are part of the reasons why this happen. In political aspect, they have different systems to function. In historical aspect, China has a different history from the United States. In the economical way, China is making a great progress, but the poverty and unemployment still commonly exist in the country while the US does a better job on eliminating the poverty.... [tags: political economy, china, usa]
1409 words (4 pages)
- There are many different pros and cons in life. Regardless of what someone is trying to compare. It is very interest when doing research on new country that an individual does not know much about that particular topic. What are the most important qualities in a country that help us function as a society. They are economic growth, strong structural system with government so the people can have a leader to follow in the right path. The very first important development for a successful country is to have a respectable education system for those who need it from the first day they are born into the world.... [tags: Education, Work]
926 words (2.6 pages)
- Globalization has, for better or worse, altered the economic arena for every country in the world. For many less developed countries, globalization has leveled the playing field so that their economies can compete with the larger, more developed ones such as the United States and other large western economies. For instance, technical engineers in India and China are now just as qualified as engineers in America, but at half the cost. The once large and prosperous service sector in the United States as well as telemarketing services have largely been sourced to India as a large exodus of American multinational corporations find cheaper workers who deliver comparable quality.... [tags: Outsourcing, Offshoring, Free Trade]
2713 words (7.8 pages)
- A financial crisis developed with an amazing speed starting from the late summer and early autumn of 2008 and it still affects the world today. This crisis has damaged many of the largest financial institutions firstly in the US and the whole world then followed, but the worst damage was that a large part of the world's financial system had almost collapse. A lot of researches tried to explain the reasons of the current global crises and try to figure out ways of changing or helping the system. This paper argues about explain the current global economic crises with new Marxists analysts and that the current crisis should be seen as a systemic crisis of capitalism because of bad structure.... [tags: Current Global Economic Conditions]
2647 words (7.6 pages)
- One of the most remarkable events in the early history at the end of the twentieth century was the period post Second World War also known as Cold War. The Cold War began in 1945, leaving the door open for the search of the world dominance between the two most powerful countries at that time: The United States of America (USA) and the Union of the Soviet Socialist Republics (USSR). This struggle for power had to be developed under the fluctuating economic conditions of the age. Even though, the world economy was facing a critical stage due to the variable price of the oil and other economic effects such as unemployment and inflation not only in the USA, but also in the USSR; both empires had... [tags: World History]
1564 words (4.5 pages)
- As we all know, automobile industry plays an important part in the economy of USA; however, this industry is facing some environmental challenges. In this assignment, I would like to discuss about the challenges that the automobile industry of USA is struggling with. Specifically, there are four main challenges that will be looked into details which are global competition, new technology, emission’s effect on the environment and the government’s reaction, and the consumers’ opinion about the products.... [tags: car industry, american automobile, gm]
956 words (2.7 pages)
- Significance of Social and Economic Change in the USA Between 1898 and 1921 Sweeping social and economic reforms that occur in any country at any time are always very significant. In relation to the United States of America (USA) during the period of 1898-1921, it is even more so. This period of time saw remarkable changes occurring both inside the USA, and in relation to the USA and the outside world as it became a global force. After the Spanish-American War, led by President McKinley, American ideologies, basically ignorant, capitalist and isolationist at heart, seemed to shift and do a 180 degree turn.... [tags: American America History]
5402 words (15.4 pages)
- USA's Military Involvement in Korea The USA's military involvement in the Korean War is often seen as America's desire to defend democracy. This argument is often difficult to refute considering economically there was little to gain from Korea and there was a certain risk of coming into conflict with the USSR. Although there are factors which I will later explore that are indicative of there being another purpose to the Korean War, much of the evidence shows the USA's military involvement was driven by their fear of communism, which clearly went against their ideals and threatened democracy and their way of life.... [tags: American History, World History]
1157 words (3.3 pages)