U.S economy is the world’s most powerful economy. It relies on a market economy based on free investment and commercial competition. The United States has vast resources in mining and energy resources: petroleum, natural gas, coal, and uranium. Despite this wealth, the United States is the world’s largest importer of fuel. – The United States of America represents the first agricultural force on the global level, both in terms of production or exports. In addition to the fact that American agriculture enjoys fertile land and an appropriate climate, it is characterized by large manufacturing. The most important sectors of agriculture are: cattle breeding, grain farming (maize, wheat, barley, soga …), industrial plants (cotton, peanuts, tobacco …). Fishing and fishing are among the most active sectors.
The United States has the most important industrial production at the global level. The success of the U.S economy at industry is due to its ability to innovate, technology, product diversity and qualified manpower. The United States of America is the leader in many fields: petroleum, automobiles, aviation and electricity, consumer goods … but the American industry is progressing more and more towards advanced microelectronics (aviation, space, electronics, armament, microchemistry ). Today, the services sector is dominated by the U.S economy, where there are resorts and various amenities and markets such as the famous Wal-Mart market, which ranks first in Fortune magazine according to sales and profits. Among the most important services are management, tourism, entertainment, banks. – The United States of America is the largest exporting and importing countries, however, its debt remains the highest debt on the global level, but these debts are internal and indicate the strength of the U.S economy .
The biggest crisis in the U.S economy
U.S economy went through several crises, the first and largest of which was the collapse of 1929, which lasted until 1933, on October 24, 1929, after 19 million shares were sold at once. And the speculation has become more than demand demand collapsed value of the capital, the inability of capitalists to pay their debts bankrupt the banks and closed several industrial establishments and farmers were unable to pay their loans and had to migrate to cities and was named this day the Black Friday, the Dow Jones lost about 50% The stock market collapsed again as the Dow Jones Industrial Average fell 22.6 percent and was called the Black Tuesday. The events of September 11, 2001, led to the collapse of some companies and caused disturbances in the global economy.
The latest crisis was in August 2008 after a mortgage crisis, falling house prices and the collapse of major financial institutions, most notably Bear Stearns, which was taken over by JPMorgan Chase. Banks and institutions such as Freddie Mac, Fannie Mae and Lehman Brothers were hit, To the intervention of the US government to save them as well as the decline of the dollar to the lowest levels in history and high inflation rates to the highest level in 17 years and the rise of the price of oil to record levels, reaching $ 147 a barrel and after a period fell to below $ 50, and the dollar exchange rate and the U.S economy recovered But the crisis remains serious and threatens the global economy . Experts expect it to end in mid-2010. The US government has set up the US bailout plan, but Congress has rejected it for the first time and then some changes have been added. Congress approved it but the crisis continued and the markets continued their sharp falls.
How did America became a superpower?
With the entry of World War I into its third year – and the first year of the story of Tuz – the balance of power began to shift clearly from Europe to America, the countries involved in the war could not afford it any more. After being isolated from world trade, Focusing its attacks on vulnerable enemies such as Romania. In 1916, Britain bought more than a quarter of the engines of its new air fleet, more than half its ammunition and more than two-thirds of its grain consumption and almost all of its petroleum consumption from foreign suppliers , Headed by the United States. Britain and France paid for these purchases by issuing more and more bonds to the Americans in dollars, not in sterling or francs. By the end of 1916, US investors had bet $ 2 billion on the victory of the international coalition. The amount of these amazing purchases led to a kind of crowd of war within the United States. American factories shifted their civilian to military lines, and American farmers planted food and textiles to feed the European fighters and their clothing. But the US government did not want to make a political decision to stand in a side. In a European war, President Wilson wanted to stay completely out of the war, preferring to achieve peace without a victory, and fears that a strong link with Britain and France could stifle options for U.S economy .
The story of Toze ends with the beginning of our modern era: the emergence of a new liberal democratic European system under American protection, but nothing lasts forever. Just as the establishment of this system was the beginning of a century’s unique American economic hegemony, this hegemony was fading away. China is now doing what the Soviet Union could not Or colonial Germany do; it is economic parity with the United States .
U.S economy is experiencing its worst performance in the Trump era
The U.S economy grew at its weakest pace in three years in the first quarter as consumer spending increased a possible setback for President Trump’s pledge to boost his country’s economic growth. The US Commerce Department said on Friday that gross domestic product grew at an annual rate of 0.7% as the government also cut spending on defense, the reading is the weakest since the first quarter of 2014. The economy grew 2.1 percent in the fourth quarter of last year. Economists polled by Reuters forecast gross domestic product growth to rise to 1.2 percent in the fourth quarter, but the survey was conducted ahead of preliminary data released last Thursday on the commodities trade deficit in March, As many economists cut their growth forecast in the first quarter.
Economists say it is difficult for Trump to meet its pledge to increase annual GDP growth to 4 percent without increasing productivity. Consumer spending, which accounts for more than two-thirds of US economic activity, was 0.3 percent in the first quarter. This reading has slowed down since the last quarter of 2009.