According the the Washington Post, the United States has climbed to an eight year high to second in the worlds most competitive economies just behind Switzerland. The question is, what does this mean to the United States? Is this a positive or negative?
Breaking this down into more details shows that this can be a positive for the United States as a whole. The United States in one of the world leaders when it comes to higher education, job training, quality of companies and technological capabilities. Which shows that the United States is indeed being very competitive when it comes to the economy, and pushing more industries to increase their value and production. That being said, there is still much more that the United States needs to improve on. For example, the US is 29th in the world when it comes to health and primary education, which is not a very good spot to be on. Also, we land at 83rd when it comes to our macroeconomic environment. Which has decreased from 71st the previous year. This reflects that slow growth of the United States since the Great Recession.
With President Trump planning to unveil his tax plan soon, it will be interesting to see how it will affect the economy as a whole. Obviously, the United States are going to have continue to improve on our technological resources in order to keep up with the rest of the world with the rate that technology is moving at. It will also be interesting to see where the U.S lands next year, especially with some of the changes that President Trump plans on doing to the economy this coming year.
https://www.washingtonpost.com/news/wonk/wp/2017/09/26/the-united-states-is-now-the-worlds-second-most-competitive-economy/?utm_term=.b0c4ef477476
I think if Trumps tax plan works as he plans than the economy will grow very quickly. However, this could negated by the new appointment to the Fed. Trump wants to deregulate the economy and it will be interesting to see how these two policies will work together if they come to fruition.
ReplyDeleteI agree, it will be interesting to see what will happen when the two policies come together. If the plan is what he expects, I also could see the economy growing at a very rapid rate.
ReplyDeleteIt is crazy to think that as powerful and competitive as the United States is we are still 29th in health and primary education. That number should be much higher than 29 based on all of the resources we have at our disposal. There are many things that the United States can improve on as you said, it will be interesting to see how Trump and the rest of the government try and fix some of these issues.
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