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In 2008, before the onset of the global financial crisis, a median of 45% named the U.S. as the world’s leading economic power, while just 22% said China. Today, only 36% say the U.S., while 42% believe China is in the top position.
For most of the 20th century, the United States has been considered the world’s economic superpower. And up until four years ago, the World Economic Forum would agree. In 2008, it ranked the U.S. as the most globally competitive economy in the world. This year, when the group published its annual Global Competitiveness Report, the U.S. ranked seventh.
The Global Competitiveness Report 2012-2013 assesses the competitiveness landscape of 144 economies, providing insight into the drivers of their productivity and prosperity. The Report series remains the most comprehensive assessment of national competitiveness worldwide.
It is made up of over 110 variables, of which two thirds come from the Executive Opinion Survey
1. Up until the 1960s America was easily the worlds strongest Economy
To see the economic decline of America, you must look at the long-term big picture, not at cherry-picked temporary improvements here and there. For instance, the unemployment rate may have slightly decreased this year, but seen in a 20-year, long-term context, that slight decrease is a droplet of water in a vast ocean of a populace drowning in troubles. In the year 2000, the unemployment rate was 4%, right now its 8%. In 1953 it was 2.6%.
2. Despite still being strong, America is an Empire in decline. This is happening incrementally.
the United States is expected to have 16.9 million millionaires by 2017 -- a 53 percent increase from America’s total of 11 million millionaires today.
a slap in the face of the hundreds of millions of Americans who have seen much better times.
The change required to turn America around is an inner change, not a Revolution on the streets, but a Revolution of the Mind.
Originally posted by PatrickGarrow17
Bureau of Labor statistics
#1 According to the World Bank, U.S. GDP accounted for 31.8 percent of all global economic activity in 2001. That number dropped to 21.6 percent in 2011. That is not just a decline - that is a freefall.
#2 According to The Economist, the United States was the best place in the world to be born into back in 1988. Today, the United States is only tied for 16th place.
#12 The U.S. trade deficit with China during 2011 was 28 times larger than it was back in 1990.
#13 Incredibly, more than 56,000 manufacturing facilities in the United States have been shut down since 2001. During 2010, manufacturing facilities were shutting down at the rate of 23 per day.
#31 In 2001, the U.S. national debt was less than 6 trillion dollars. Today, it is over 16 trillion dollars and it is increasing by more than 100 million dollars every single hour.
I have sought to acknowledge that I am taking an against the grain position.
We have been through a recession, our economy has experienced a contraction. Data shows that this type of behavior is cyclical and recovery should be expected.
So, we should leave behind the fallacies that have us downplaying the fact that America is the world's top dog.
Countries like Sweden, Finland, Switzerland, and Singapore are ants.
The US real estate industry is three times the size of Switzerlands GDP.
No country in the world is so breathtaking both in scope and quality of life.
I imagine Skyfloating is now preparing a final statement that focuses on government debt.
Alas, government debt is my opponents only compelling argument. Skyfloating must convince us that the US can not recover from it's debt in order to win this discussion.
Around 1950, the US had a similar debt/GDP ratio and it was reduced to a very manageable level in a few decades.
we can reasonably project that deficits will be reduced in the coming years.
As we enter 2020 and beyond, America has an excellent chance of experiencing another economic boom
In terms of real value there is no nation on Earth that comes close to the combined wealth of the US.
Both fighters have made valid points which resulted in an interesting debate. Having to choose a winner, however, isn’t based on the fact that they both presented their side of their argument as best as they could but having to keep an eye on the data and information that was inaccurately described and / or portrayed.
I have to go with Skyfloating on this overall debate as he has clearly shown where his opponent’s weaknesses were and easily swayed my opinion.
I won’t be going through all of them but I will give this one out as an example:
The correct way to compare such data is in PERCENTAGE not numbers.
Which is absolutely correct. I also somewhat have the impression that PatrickGarrow17 was sitting on the fence on certain topics while his opponent rebutted them all accurately and with conviction.
Skyfloating wins this debate, hands down.
Both members provided very solid opening arguments pertaining to the current strength of Americas economy. In general, I felt that PatrickGarrow17 cited good evidence of past, present and future trends of the economic prowess of America. His links were full of details which backed up his argument.
I thought that Skyfloating narrowed the parameter of the debate and focused more on the topic at hand and produced a more realistic interpretation of current economic trends that showed a global decline in Americas economy as well as establishing the significant strength of other emerging economies as it stands today.
I wish to emphasise that this was a difficult debate to judge as both members produced outstanding arguments for their respective sides.
Congratulations to both members, this was an excellent debate.
By a very narrow margin, Skyfloating made it across the line first.