Whether the Us Can Retain Its Top Status

As the world's biggest economy, the United States has been received much attention from the whole wide world all the time. After the World War II, the United States became the world's superpower and dominate the capitalist world. At that time, the economic strength of United States possessed the full advantages in the capitalist world. However, the American economy is not always smooth. Since the 1950s, the debate about the rise and fall of the United States has been sparked for many times. Such as in the late 1980s, there has a debate about whether the United States economy would decline when facing the budget deficit and the threat from Japanese economic power (Hamilton, 2010). In 2008, the international financial crisis caused by the United States also triggered the comments and forecasts about the rise and decline of America. In the recent years, the current world economy is in a new round of recovery, but it is still a controversial issue for the prospects of the U.S. economy. This essay will attempt to discuss the negative and positive aspects and views of the U.S. economy and whether the United States can remain its world top status. In addition, this essay will firstly look at the negative factors influenced the economy of the United States. Following this, it will explain the positive factors boost the economyof the United States.

The first part of the essay gives the current negative aspects and views of the United States.

After the "9.11" terrorist attacks, on September 15th, 2008, with the bankruptcy of Lehman Brothers, a serious financial and economic crisis had swept the United States. The financial crisis was not only hit the economy of the United States, but also had a major impact on the economic security sense of American people and their habits of investment and consumption. Since the international financial crisis led by the United States 2008, the comments and forecasts about the "decline of American" appeared again on the network.

Three years later, the US economy has still face some challenges. One is the debt crisis of the United States. Since the World War II, the economy of the United State grew rapidly, as a consequence, consumer credit being prosperous and the national savings rate was very low. Under the hegemony of the United States, the treasury bond has become the preferred global investment. Bonds are issued by the state, it is a government bond by the central government to raise funds. (Raymond, 1916). As the issuing subject is the state, so it has the highest credit and recognized as the safest investment vehicles. In addition, the U.S. Government also carried out deficit policy for a long-term to drive the increase of the economy. The hegemony actions implemented by the U.S also increased the burden of the deficit. These have made the long-term lax of U.S. financial situation and a large-scale of