STATE OF ECONOMIES OF THE WEST AND THE COMMUNIST NATIONS

 

Reviving growth is necessary, but future growth models must be different Many believe a new growth model is needed – one that balances the drivers of growth and productivity with the complexity of innovation, inclusion, sustainability and resilience. Davos 2024 provides a platform for the dialogue, research and collaboration needed to support this shift. Moreover, during Davos 20204, international organizations, CEOs, policy-makers and economists will gather to design a two-year initiative for aligning on a new vision for growth. The meeting will also host dialogues on industrial strategies, the new high-rate reality, monetary policy decisions, the jobs outlook, city planning best practices, AI technologies and advancements in manufacturing.

The United States became the world's largest economy in the early 20th century and though massive industrial growth and technical innovation it has held that lead for over 100 years. The world superpowers that came before it was most notably colonial empires, with the France Britain and the Netherlands all extracting a vast majority of their wealth from foreign colonies that they used to mine natural resources or grow tea and spices to bring back home. Incidentally, the United States was once one of these colonies, but it had a bit of a rebellious streak and claimed independence to go an to become a majorly powerful nation in its own right. The nation was born with the memories of empire and what it meant to be a colony, so it ultimately walked a different path to prosperity. In this video, part two of a serious on the economy of the United States we will look at America’s take on its own global empire. The Philippines' large foreign reserves are often misunderstood and underappreciated, but they play a crucial role in protecting the economy from external shocks  This is the reason why the Philippines has so much potential. Imagine their economy just being driven by services and remittances. What if the country resolved its high cost of energy and irrigation problem and removed its strict policy on foreign investments? For sure, their manufacturing and agriculture industries will also grow, and their exports will eventually become bigger than their imports, which will surely make their foreign reserves and their economy, in general, grow even more. Oh, and I almost forgot about their growing tourism industry, which will also contribute massively in the future.

Economists believe the U.S. could lose its ranking as the world's leading economy in the 21st century, as measured by gross domestic product. But the U.S. is set to extend its run through the 2020s, on the back of slower-than-expected growth trends in China. Investors are now placing fresh bets on emerging markets as the working-age population booms in the Indo-Pacific.