Future of American Economy
Not very far there was a time when the global economy changed its centre and paved way towards United States. The Soviet Union had to see the shattering of his dream of controlling the world’s economy. It was America all over controlling and capturing the possessions of the world under the taboo that he is the best to guard them. No doubt, with the passing time American Economy grew and people earning today can easily compare the amount which they used to earn few decades back when the economy was holding its strength and faced many problems.
With estimation before 2001, all was packed, centered and controlled through the strategies and American economy was stronger than any other in the world. The budget was implemented with the shares specified for different fields. In other words military expenses were not as much as they grew after 2001. The attack on Afghan’s land surely made heavy burden on American budget and thus economy started shattering. It was right after the second involvement of military on Iraq when the American economy was on its worst and the market was afraid that it may fall as the heavy expenditure across lands.
Anyhow this was the outer view of American market and economy after 2001. If looking at the inner picture, American economy established on the firm basis after 1976, it was a time when new opportunities of home business knocked in the market and people started getting benefit with them. And it was after 3 to 5 years that there was a boom of people striving to get a visa for the United States. The incoming individuals added billions of dollars in the American currency and stated finding labor work for them which in turn were again beneficial.
As far as the future of the American economy is concerned; there are different views found after the analysis in the scenario of the going circumstances. In the last century it was American suburbs which grew and developed very soon and abruptly and thus public found their way to have place in these suburbs. It was again assumed that these suburbs will die very soon and economy will face a sudden turn. The factors explained behind are all on the crash of home market. The high growing prices, rental concerns and many others are a part of it.
Yet recent predictions go against it, it is thought that the suburbs will not only keep on growing yet will become the centre of many town life as they will be rebuilt like towns. Many bedroom communities will start coming down and will find their space over there. All business centers will be developed in these towns and people will find them having a very comfortable place in these areas. These suburbs will have their own culture as these are center of many ethnic communities and immigrants. The dominant mode of transportation will continue to be the white cars with the economic fuel combustion.
The upcoming issue for the American economy will be class but not the race. As the more immigrants and communities are becoming a part of middle class; the upward mobility for such class is difficult as compared to the people living in expensive cities. Though suburb life will greatly develop yet the city life will not be out of the way. The model cities like New York and San Francisco will continue to exist as but with the more expensive life style. They might become a center for single residents and people belonging to 45-50 age groups. The worst will be that the luxuries enjoyed by people living in cities will not be affordable for those living in suburbs. So, the enjoyable and affordable scope of facilities for the middle class will be restricted and limited which is and will be constant difference between the two modes of life styles in two different ways.
Jobs are perhaps the biggest concern of people today in America. Good news is that the jobs will get more virtual. As stated in the beginning now people do not go in search for the stake holders or to collect enough to start a business in an office building; now all is done online with the people working through internet. These businesses being run on small and domestic scale have surely and will be supporting American economy. Such businesses are going to other countries like India and china. Yet it never meant that with the launching of this small ownership, America will lose the business or market centers. No, not at all they will still be working as finance centers for the country yet there will be over all reduce in their money market or in other words; it can be said that there will be shift in the trends of market.
Another trend will be the decline of mobility which will affect American economy. In the coming years, people will choose cities where they want to live not where they want to work. Once, they chose it, they will make it their work place. And once they start working there, they will not like to move at all which will be a change brought over 50 years. Even today people do not need to stay at a particular city if they do not have a business which needs an office in a particular location.
It was 1980,s when people started saying that the next century will be economically of China, writers and economists today do not agree and state that china will not be able to eclipse the market of united states; the reason of which is mentioned that till 1950, china will be having 31 percent of its population growing 60’s as compared to twenty five percent of America. So, china will definitely have to deal and concentrate on the old age people and the labor shortage. America will also have to face the same yet on a smaller scale. While china is not as equipped as America is for dealing with such issues.
By Ammarah Khan
