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instructions
In 1945 when World War II ended the United States had 50% of the gr
instructions
In 1945 when World War II ended the United States had 50% of the gross Domestic product of planet earth. In other words half of the worlds economic production was in the United States. Now this was due to the destruction of the war. When the United States won the cold war, making their form of capitalism the one to emulate, there would be repercussions. From the 1990s the global competition has increased. The United States standard of living, the highest in the world, is the goal of every other nation. The USA has about 24% of the Wolrds production today, China since World War II has gone from 2% to 22%.
In about 250 or more words answer these thoughts….
If every nation is trying to become as rich as the United States what will be some of the problems encountered when 9 billion people are trying to increase their standard of living to equal the 340 million (Americans) at the top? What does this mean for resources? For prices? What happens to the relative power of the United States in comparison to the rest of the world? Especially when compared to 1945 when their power was so much more than the second most powerful nation?
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