For example in the late 19th century americas

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Unformatted text preview: the United States compared with other nations, particularly its adversaries. In this respect the power of the United States is less in a richer world economy. On the other hand, the welfare of a nation's citizens is largely a function of its absolute economic capacity. A nation's living standards are primarily based on its productivity and on its ability to exchange its products for those of others on international markets. Both of these effects are enhanced when increased innovation abroad provides U.S. consumers access to better products and U.S. manufacturers more opportunities to emulate foreign products and processes. The United States no longer has to carry the burden of global innovation alone—increasingly, American firms can learn from others. A collapse of US primary from loss of competitiveness ensures extinction Zhang et al, researcher @ Carnegie Endowment for International Peace, Washington, D.C., January 22, 2011 [Yuhan and Lin Shi, independent consultant for the Eurasia Group, “Am...
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