Ø World’s largest national economy and also second
largest in purchasing power parity.
Ø The world’s gross domestic product (GDP) makes up 17
to 22%.
Ø Currency (Dollar) that widely used in International
Trade.
Ø British Virgin Islands, Ecuator, Panama, Vietnam, Cambodia,
Nicaragua, the Bahamas, Turks and Caicos, and Belize nations use the US dollar
as their own currency.
Ø “Mixed Economy” that private interests and state
interventionism play a role in US economy.
Ø The GDP maintained overall economy growth rate for
decades.
Ø Foreign investments in US $2.4 trillion and American
investments in other countries are $3.3 trillion.
Ø USA is the largest consumer market in the world.
Ø The USA also the world’s largest producer of oil and
natural gas.
Ø World’s second largest manufacturer, representing a
fifth of the global manufacturing output.
Ø The USA is not only the largest internal markets but
also dominates the trade in services.
Ø USA also one of the world’s largest in financial
markets.
Ø The USA economy went through crisis economy following the financial crisis of 2007 and 2008.
HISTORY
ECONOMY OF USA
v The USA has the world’s largest national economy.
v In the 16th century, USA begans as a
European settlement.
v The USA economy began to experience growing pains
due to its rapid expansion in the middle of 19th century.
v In the beginning of the 20th century, a
number of modern financial institutions came into USA to help regulate the
economy.
v The USA economy had grown to be the largest national
economy in the world by the year 1920s.
v USA also one of the most progressive, become the
ground for a wide assortment of political and social policies.
v The USA economy grew by an average of 3.8%, while
real median household income surged 74% between the year 1946 and 1973.
v Since 1973, USA economy has slowed in growth to an
average of just 2.7% per year.
v The USA economy also experienced a crisis in 2008 by
a derivatives market and subprime mortagage crisis and declining dollar value.
Suganya A/P Segar
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