COMPARATIVE ANALYSIS OF USA AND CHINA’S GLOBAL DOMINANCE IN

WORL ECONOMY AND POLITICS

In Partial Fulfillment of the Preliminary Requirement for the Subject The

Contemporary world (TCWN01G)

Submitted to:

Ms. Allysa B. Caraoas

Submitted by:
 INTRODUCTION

Background of the USA

In today’s globalization, according to Litan (2000) When the United States undertake the
21st century, as the world economic leader, it remnants debatable, a sensational reversal from the
1980s when many Americans had worried about “competitiveness” in the United States. In spite
of the fact that, Productivity growth has recoil from a 25 year slump of a little more than 1
percent a year to more or less 2.5 percent since 1995, a gain few had contemplate. As well as, the
driver of change in average are in living standards.

As I have noted, In the United States of America economic recovery as well as economic
cooperation with the recline of the world has played a key role. Moreover, the relatively open
borders have helped to maintain checking enabling most international products to come in with a
zero or low tariff, enabling the Federal Reserve to let the good times roll without elevate interest
rates as fast as they might have done. Due of the fact that, during the Asian financial crisis, the
influx of funds from abroad kept interest low as well as in order to promote a continuing boom in
investment and consumption, more than offsetting any decline in American exports to Asia.
Furthermore, exports accounted for almost a quarter of production growth during the 1990s, but
at the end of the decade, just 12 percent of the U.S. gross domestic product.

The United States as well as American citizens have been affected significantly

The United States and American citizens have been affected significantly by globalization.
Globalization has spread American influence around the globe, first and foremost. For the United
States, globalisation has opened up more opportunities,