US economy fundamentals deal with different factors that regulate the performance of country’s economy. Creation of a knowledge-based economy has been one of the major points for the federal government of the United States. The fundamentals of US economy put stress on efficient utilization of the existing resources to ensure sustained economic development. Efforts are also on to develop new skill set to keep pace with the ever-changing global economic scenario.
The natural resources assume huge importance in the context of the US economy fundamentals. The abundant supply of natural resources like coal, natural gas, petroleum, uranium, lead, copper, silver, zinc, phosphates, and many more play a crucial role in strengthening the base of the US economy.
US economy offers diverse source of employment for its huge labor force. A significant portion of skilled labor force in the United States is employed in the technical, managerial, and other professional jobs. Apart from this, other sectors of the US economy are manufacturing, extraction industries, transportation, and sales.
Globalization has brought about a number of favorable changes in US economy. As an aftermath of globalization, the developed and developing nations across the world have followed trade liberalization policy. The volume of international trade for US economy has recorded substantial increase over the last few decades. The increased cross border trade has also been helped by different bilateral trade agreements signed between US and other nations worldwide.
Economic and financial policies of the federal government in United States are crucial as far as US economy fundamentals are concerned. The US economic policies provide ample growth opportunities for business sector of the country.
Favorable changes in fundamentals of the US economy ensure long-term growth and prosperity.
With its economy flat lining and being held up by oil and gas exports, Russia desperately needs to increase the scale of those exports. On the face of it the massive $400 billion deal Russia signed with China on 21 May, for a 30 year gas supply contract, looks just the ticket to deliver that increase over the long haul. However, the deal has a number of non-trivial obstacles to overcome, chief of which are disagreements between China and Russia over pricing and the difficulty Russia may find in funding the required pipeline.
Professor at Columbia University. Recipient of the Nobel Memorial Prize in Economic Sciences in 2001 & the John Bates Clark Medal in 1979. Author of "Freefall: America, Free Markets", "The Sinking of the World Economy", "Globalisation and its Discontents" & "Making Globalisation Work".
Eric J. Gleacher Distinguished Service Professor of Finance at the Booth School of Business at the University of Chicago. IMF’s Chief Economist from September 2003 to January 2007. Inaugural recipient of the Fischer Black Prize.
Vice President and Director of the Global Economy and Development Program at the Brookings Institution. Former Turkish Minister of State for Economic Affairs. Head of the United Nations Development Program (UNDP) from 2005-2009.