Top > Business > 2006 > July > 2006-07-04

U.S. Economic Power at 230

The United States of America have, at the nation?s 230th birthday, the largest and most powerful economy in the world. In terms of sheer growth of real economic power, no country is yet able to match the U.S. of A, though Chinese economic growth may outpace several aspects of America?s. When America turns 300, will this be the case still? It might not even be the case when the Republic is at 250 years old. China and India, two countries in Asia which, when combined make up a huge percentage of the total human population of Earth, look to the United States as a challenge and a goal.

While the U.S. dollar is currently the global standard, the British pound sterling is at the moment an extremely powerful currency. And those Americans traveling to Europe may be dismayed when they see the effect the stronger euro-to-the-dollar exchange rate has on their bank accounts or credit card statements. It won?t likely be pretty.

In any case, the dollar is still the preferred foreign holding currency at the moment, though the strength of the euro or even of the Chinese currency, the yuan, could lead to some drastic changes. So this Fourth of July, remember to celebrate economic power and freedom, and maybe the United States could look around the world, see the example of others, and do what they need to stay on top!