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.
Following Russia's military incursion in Ukraine, the US immediately threatened various sanctions against Moscow, including personal travel bans, an ejection from Russia from the G8, and trade and finance measures. In retaliation, a Putin advisor warned that Russia could abandon the dollar as a reserve currency and/or default on loans to US banks. Neither party however can afford any form of action, nor do they have any real influence over each other’s economies.
Professor of Economics & Director of the Earth Institute at Columbia University. Special Adviser to the UN Secretary-General on the Millennium Development Goals. Founder & co-President of the Millennium Promise Alliance.
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.
Andrea Edwards has worked in marketing and communications all over the globe for 20 years, and is now focused on her passion – writing. A gifted communicator, strategist, writer and avid blogger, Andrea is Managing Director of SAJE, a digital communications agency, and The Writers Shop – a regional collaboration between the best business writers in Asia Pacific
James W. Harpel Professor of Capital Formation and Growth at the John F. Kennedy School of Government in Harvard University. Director of Program in International Finance and Macroeconomics at the National Bureau of Economic Research.