Question
On page 138 in your book, there is a bar graph that shows the GDP of various countries in the world based on 2017 figures.
On page 138 in your book, there is a bar graph that shows the GDP of various countries in the world based on 2017 figures. It is clear that the United States has a significantly larger GDP than any other nation in the world. Historically the United States has always enjoyed being the world's largest producer of goods and services. However, it appears that all of that will change shortly. Some economists have predicted that China's GDP will become larger than the United States' GDP as early as 2021 and by 2030 India's GDP will also become larger than the United States' GDP as well. This means that the United States will only be the third largest economy in the world (China will be first and India will be second). How do you feel about that? How might that impact the U.S. economy? What kinds of political impacts will it have?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started