tic dominance of Revolution took moved toward wth Today oing so with GDP the

Tic dominance of revolution took moved toward wth

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tic dominance of Revolution took moved toward wth. Today, oing so with GDP, the greater ution spurred
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massive growth in the United Sta Ocean. Today, it is moving back WITH DATA FROM ANGUS MA This trend will persist even thoug pervasive corruption in India and system in China. For instance, ac Organization for Economic Coop markets has already eclipsed that Asia-Pacific nations is on track to nearly six by 2030. U.S. wealth is not shrinking in ab globalization -- but the United St rivals. Although Europe and Japa relative economic power, the U.S expansion over the past several d particularly large role in the U.S. Financial Times has referred to a including a decline in the skill le to research and development. ates, the center moved west, eventually out over toward Asia. SOURCE: MCKINSEY GLOBAL ADDISON OF THE UNIVERSITY OF GRONING gh emerging economies are hitting roadblocks to d demographic challenges and serious distortions ccording to the asset-management firm BlackRo peration and Development (OECD), consumptio t in the United States, and spending by the midd o exceed middle-class spending in North Ameri bsolute terms -- and it continues to benefit from tates and its allies are losing might compared wi an have been responsible for much of the develo S. economy has also slowed from its traditional r decades. Worsening productivity growth has play . slowdown, dropping to around 0.5 percent ann as a "productivity crisis." A range of factors are r evel of the American workforce and a drop in res the Atlantic INSTITUTE, GEN o growth, such as s in the banking ock and the on in emerging dle classes in ica by a factor of economic ith potential oped world's lost rates of yed a ually, which the responsible, sources allocated
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U.S. REVENUE VS. SPENDING By 2043, federal spending on entitlements and net interest payments will exceed federal revenues, meaning funds for any discretionary programs will be borrowed. SOURCE: CONGRESSIONAL BUDGET OFFICE Overall, the U.S. economy has become less competitive. The McKinsey Global Institute, for instance, has measured the relative attractiveness of the United States across a range of metrics, such as national spending on research and development and foreign direct investment as a percentage of GDP. It found that U.S. business attractiveness relative to that of competitors fell across 14 of 20 key metrics from 2000 to 2010 -- and improved in none. And according to the Harvard Business Review , U.S. exports' global market share dropped across the board from 1999 to 2009 and suffered particularly sharp falls in cutting-edge fields such as aerospace. This shift in economic growth toward the developing world is going to have strategic consequences. Military power ultimately derives from wealth. It is often noted that the United States spends more on defense than the next 10 countries combined . But growth in military spending correlates with GDP growth, so as other economies grow, those countries will likely spend more on defense, reducing the relative military power of the United States. Already, trends
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