America's Economic Might and Global Role Endure Despite World's Upheavals
• America’s share of global GDP has stayed steady at 24-25% for 50 years. Its economy saw robust growth post-COVID.
• America makes up for the decline of the rest of the West. It sees itself as an “indispensable nation”.
• America has massive economic, natural, human and technological resources. This has enabled it to fight wars, undertake global misadventures, and weather crises.
• Post-WW2 expansion of global trade is underwritten by US Navy policing oceans.
• Global financial integration, made possible by Bretton Woods system underwritten by US financial system, has dwarfed trade.