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economy in America

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The United States has the strongest economy in the world, and it depends on a market economy based on free investment and commercial competition. The United States has great wealth of mineral and energy resources, petroleum, natural gas, coal, and uranium, which are the country’s most important products. Despite this wealth, the United States is the most importing country of hydrocarbons. The American economy is able to generate hundreds of thousands of jobs per month, for example, 560,000 jobs were created in May 2021, and unemployment decreased by 5.8% compared to the previous month.

American economic crises

 The American economy went through several crises, the first and the biggest of which was the collapse of 1929, which lasted until 1933, when on October 24, 1929, after 19 million shares were put up for sale at once, and as a result of speculation, supply became more than demand, so the value of the shares collapsed, and the capitalists were unable to pay their debts, so banks went bankrupt and several institutions closed As the farmers were unable to pay their loans, they were forced to migrate towards the cities. This day was called Black Thursday. The Dow Jones index lost nearly 50% of its value and did not return to its level until more than 20 years passed, and in October 1987 the stock market collapsed again as it declined The Dow Jones Index increased by 22.6% and was called Black Tuesday. The events of September 11, 2001 caused the collapse of some companies and caused turmoil in the global economy.

As for the last crises, it was in August 2008, after a mortgage crisis, a drop in house prices and the collapse of major financial institutions, the most important of which was Bear Stearns Bank, which led to its acquisition by JPMorgan Chase. Institutions and banks such as Freddie Mac, Fannie Mae and Lehman Brothers collapsed, which led The US government intervened to save them, as well as the dollar’s ​​fall to its lowest level in history, the rise in inflation rates to the highest level in 17 years, and the rise in the price of oil to record levels, reaching $147 a barrel, and after a while it returned to falling below $50 and the dollar exchange rate rose. The American economy went through several The first and biggest crises were the collapse of 1929, which lasted until 1933, when on October 24, 1929, after 19 million shares were put up for sale at once, and as a result of speculation, supply became more than demand, so the value of the shares collapsed, and the capitalists were unable to pay their debts. They refused to pay their loans, so they were forced to migrate to the cities, and this day was called Black Thursday, and the Dow Jones index lost nearly 50% of its value and did not return to its level until after more than 20 years ago and in October 1987 the stock market collapsed again

Signs of the strength of the American economy

The United States of America is a recent country compared to many countries of the world. It is a country that includes fifty states, most of which are located in central North America, bordered by Canada in the north and Mexico in the south. It also comes in third place in the world in terms of area of ​​9.83 million km and a population of 307 million people, but its strong economy For several years, it occupied the first place as the largest economy in the world, and that the United States of America operates within a capitalist system that depends on a market economy based on free investment and commercial competition, which is fueled by the abundance of natural resources, advanced infrastructure, high productivity, in addition to various services and modern technological capabilities. Important natural resources such as petroleum, natural gas, coal and uranium, which collectively represent its most important products, despite being the world’s largest importer of hydrocarbons, in addition to possessing an agricultural power that is the largest in the world. Peanuts and tobacco

As for the industrial level, the technological and financial capabilities of the United States, in addition to the diversity of its products and the availability of qualified labor in it, have made it occupy the forefront of many industries of petroleum, automobiles and electricity, especially the advanced and precise technological industries.

As for the impact of the service sector, it is clearly visible on the American economy, where management and tourism services, in addition to entertainment, trade and banking are one of the most important tributaries of this economy.

In a quick look at the other most important strengths in the American economy, it can be summarized as follows: the dominance of the American dollar on international trade and banking reserves, as it has become the most widely used currency in the world, which gives an important competitive advantage to the state, especially at the level of repayment of its foreign debt, which has become calculated in dollars. It is the local currency

The freedom and ease of movement of capital, which makes large investors move quickly to seize any opportunities available in their markets, especially in light of the existence of a management style that is considered among the easiest and fastest in the world, supported by the availability of growth and great technological development

The hegemony and political power enjoyed by the United States of America make many countries aspire to be among its main trading partners

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