10 Reasons Why America Truly Is Exceptional
8. The American economy is exceptional
The United States is the world’s largest economy, representing 22% of global GDP. The U.S. dollar is the currency most used in international transactions and is the world’s foremost reserve currency. Several countries use it as their official currency, and in many others it is the de facto currency.
The US has abundant natural resources, a well-developed infrastructure, and high productivity. It has the world’s ninth-highest per capita GDP. Americans have the highest average household and employee income among OECD nations, and the fourth highest median household income in the world. America has been the world’s largest national economy since at least the 1890’s.
The US is one of the world’s largest producers of oil and natural gas. America is the global engine of economic growth. Together with China, it is the largest trading nation in the world, as well as the world’s largest manufacturer; representing a fifth of the global manufacturing output. Of the world’s 500 largest and most influential companies, 128 are headquartered in the US.
The United States has the world’s largest and most influential financial market. The New York Stock Exchange is by far the world’s largest stock exchange by market capitalization. The US economy leads international rankings on venture capital and Global Research and Development funding.
The United States has the largest consumer market in the world, with a household final consumption expenditure five times larger than Japan’s. The labor market has attracted immigrants from all over the world and its net migration rate is the highest in the world. The US is listed as one of the top-performing economies in studies such as the Ease of Doing Business Index, the Global Competitiveness Report, and others.
