and yet it continues to have an incredible economy and provide enormous numbers of people with homes and food. If it did any better, it wwouldn't be the 7th largest economy in the world, it'd be the 2nd.
Their economy is actually expanding both in terms of GDP. And GDP PPP (now on par with Germany, which is in major industrial decline). It’s public information and pretty well covered by business and economic publications. Their biggest economic issue right now is an acute labor shortage.
Its basically been growing like crazy since 2008. Check out the difference between the US growth vs most first world countries growth. The GDP per capita was 45k in 2008 and 48k in 2019. The US when from 48k to 63k.
The US became absurdly wealthy during the 20th century. Canada did well too. Poland, Czechia, Estonia and a few other recently independent democracies are thriving as well.
Do you mean it's not a major power in privacy-related matters? It might not be and all the actions from the current president could just be PR stunts but at least the talks are happening in a certain direction (opposite to the US vision).
note that there is a huge business opportunity lurking in sectors this large yet relatively untapped. the US alone is $1.5T.
this revelation also gives perspective on economics as a discipline, in that it's still in it's infancy, with vast swaths of the economy largely invisible to decision-makers.
US economic performance is all the more OP if you take into account that it's a huge country of 350m people and has a diversified economic base.
For a tiny banking nation or petrostate to be rich is unsurprising.
But when it's half a continent, the world really ought to take out their notebooks and go into full copycat mode - at least as far as economic policy and attitudes are concerned.
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