The US is developing in many areas of business which in turn has an impact on the general wealth and economic policies of the New American Empire. Here we shall touch briefly on 10 important areas of business development and growth in the US.
1. The rise of online casino regulation
Online casino regulation affects the USA’s market size and ability to compete with off shore markets. The US online gambling industry provides a good example of this. The growth of online gambling coincided with huge growth in internet access and spending. This was when online casinos were first developed, and their popularity increased among US citizens over time. Some people predicted that US citizens would be spending more money on gambling than alcohol, tobacco, or fast food by 2020. However, with the regulation of online casinos, more tax can be generated and jobs created to improve standards of living within the local community. The key downside is problem gambling wherein gamblers spend excessively to the detriment of themselves and their families.
2. Central Bank independence and the USA
In many countries, a central bank has more power than in the USA. A central bank is like a bank that can print money and set interest rates to control inflation and economic activity. It is independent of government because it isn’t controlled by politicians who can change policy if they want to favor one industry or sector over another. For example, a politician may decide to increase spending on defense if they overthink money is being allocated to education or another priority.
3. The cost of US healthcare
The USA has the most expensive healthcare system globally because it is privately owned. Healthcare spending accounted for close to 18% of the US’s GDP in 2015. A shortage of doctors and nurses adds to the cost because there is a need to pay higher wages to attract more workers. The typical prices for medical procedures are also very high compared with other developed countries. This is because a high proportion of the medical budget is spent on health care professionals. Other countries have less money spent on medical staff and tend to have lower prices for healthcare.
4. The growing market
The US is the biggest economy in the world. It is expected to overtake China as the biggest world economy by 2030. The US has an advanced standard of living, but it isn’t the most high-tech in some respects. Although that doesn’t mean it’s not a technological leader, it does impact business development in many areas. For example, there was a time when US companies like Apple, Google, and Microsoft were setting the pace for innovation in business enterprise software and consumer electronics. However, this is no longer the case because leaders in technology are starting to emerge from other countries.
5. World food prices
US companies control huge parts of the food production and distribution industry worldwide. The USA has a highly competitive agricultural sector, but it doesn’t have enough competition because of its size. This means a high risk of a monopoly or cartel forming in price-fixing or market-rigging, which can influence the market and cause price rises for consumers. The US economy has a significant impact on the global food market because of the large-scale farming techniques. It is a significant exporter of food and agricultural products to some countries worldwide.
6. Military-industrial complex
The US government spends huge amounts on the military, which affects its economy. The USA spends more than any other country on defense in the world. This spending can increase the GDP by running the military and selling arms or equipment to other countries. This boosts growth in certain industries such as armaments, aviation, and transportation. However, some of these manufacturing companies may link military suppliers and weapons producers.
This can create biased markets for US defense industry products which are not always fair. There is a risk of conflicts between countries that use markets for defense spending, leading to better information exchanges about other countries’ activities and technology. This can give the military a false sense of security and make them over-confident.
7. The USA is the largest importer in the world
The USA imports more than any other country in the world. This is because it is a highly developed country that exports rather than imports goods and services. When other countries don’t have enough manufacturing jobs, they are forced to import goods from other countries to fill gaps which can reduce their standard of living and create unemployment or underemployment.
8. The US is a holding company
The USA has a flexible business environment and a large workforce, making it attractive to foreign investors. It also has a highly competitive market across many industries, making it attractive for US companies to expand overseas. For example, the manufacturing industry in the USA is the most competitive in the world, with just 1% of workers employed in manufacturing compared with 17% in China. This means US firms have less incentive to manufacture goods at home because they can get cheaper labor abroad instead.
9. The US is a financial capital
The USA is a major global finance and banking player. It’s the biggest financial center globally and hosts some of the world’s largest banks. Its economy is therefore dependent on the health of this sector. In addition to this, US banks are responsible for lending to companies worldwide. This makes them vulnerable because there is a risk that other companies may fail if conditions get worse and there is no longer enough demand for their goods or services.
10. The US is a signatory to international trade treaties
The USA has been involved in more global trade agreements than any other country. For example, it was a key player in forming the Trans-Pacific Partnership (TPP) and the North Atlantic Trade Agreement (NATO). It is also a member of hundreds of other trade agreements. This means that there is an incentive for American companies to hang onto their market share through unfair trade practices or profiting from excess protectionism.
