U.S. Remains No. 1 Economy, But Won’t Stay That Way Without Change
Published: December 30th, 2009
By: Morton Kondracke

It’s time for New Year’s resolutions. Here’s a good one: Let’s resolve to keep America the world’s most competitive and innovative country.

It’ll surprise many Americans to know that we even have that position.

In a poll released earlier this month by the Pew organization and the Council on Foreign Relations, 44 percent of Americans regard China as the world’s leading economic power, while just 27 percent name the United States.

In a NBC/Wall Street Journal poll, people were asked what country would lead the world 20 years from now. Thirty-nine percent said China; 37 percent said the United States.

Asked whether they felt confident that their children would live a better life than they do, only 27 percent of respondents said yes.

Asked if America is in a state of decline, 61 percent said yes.

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The truth is that the United States is still the world’s biggest economy, with an expected 2010 gross domestic product (GDP) of $13.2 trillion to China’s $3 trillion. The European Union ranks second at $12.9 trillion.

The World Economic Forum ranks the United States as the planet’s most competitive and innovative economy. China, while described as an “emerging giant,” is still 30th.

The United States is still the world’s largest manufacturer, with China second and Japan third. And we spend more money on research and development than any other nation.

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