U.S.A. — Nearly three times the size of China's $5.5 trillion annual economy … with one-fourth as many people. In my book that says American workers are roughly 10-12 times more productive.
Volatility — Pick any descriptor … economic … financial market … political.
Wallets — Lighter these days for millions of people around the world after the Great Recession led to the loss of more than 50 million jobs globally. Hits to retirement funds and housing values globally hasn't helped either.
eXports — A bright spot of overall sluggish U.S. economic growth of the past 12 months, with nearly a 20% annual rise. Like it or not, a modestly weaker dollar has helped.
Young People (around the world) — Facing a rising tax burden in coming decades to finance the retirement years of Baby Boomers (and Boomers' parents) if minor changes are not soon made.
Zones (trading) — As before, Asian, European, and North American trade zones will dominate trade flows.
Jeff Thredgold is the chief economist for Zions Bank and founder of Thredgold Economic Associates, a professional speaking and economic consulting firm. Visit www.thredgold.com.
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