The U.S. has opportunities to revitalize its economy through revamping old infrastructure (especially that which impacts multiple networks on a regional level) by utilizing innovation development practices that push the U.S. to utilize its strongest assets to fully master the digital domain. Jumping into the digital domain and its power to understand big data and the creation of new advanced manufacturing capacity could adjust the national course to a higher end.
CNBC offers some great charts in their article 'New chart shows China could overtake the U.S. as the world’s largest economy earlier than expected' by Evelyn Cheng and Yen Nee Lee.
A few highlights
1. U.S. economy contracted 2.3% vs. China growth 2.3%
2. COVID hits U.S. much harder slowing down economy (Why my break even by 4Q GDP was likely off).
3. GDP in the US $63,200 per capita while China is at $11,000 per capita. With more innovation and technology (hopefully something our country will put as part of their strategic approaches) we can improve this number to magnify American skill and craftsmanship value.
Cheng, E. & Lee, Y. (January 31, 2021). 'New chart shows China could overtake the U.S. as the world’s largest economy earlier than expected'. CNBC. Retrieved January 31st, 2021 from https://www.cnbc.com/2021/02/01/new-chart-shows-china-gdp-could-overtake-us-sooner-as-covid-took-its-toll.html
No comments:
Post a Comment