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Environment of international trade: The United States of America

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  1. An overview of the U.S. development
  2. A set of four scenarios regarding the future development of the United States
  3. Critical factors in determining the future of the US

The United States of America does hold a position of economic supremacy in the world. Its economy is particularly large and complex to define. According to the Central Intelligence Agency's website (C.I.A., 2007), the U.S has the world's largest and most powerful economy with a gross domestic product of U.S. $13.06 trillion. Despite several economic concerns - such as the national debt, important external trade deficits, consumer debt and real estate crisis for example - the country represents the capital of capitalism with its strong market-orientated economy (Russell Duncan and Joseph Goddard, Contemporary America, 2005, p. 218). Indeed, corporations and private individual businesses are free in their economic decision-making, while sometimes they are regulated by the federal government. Here we first provide an overview of the country's development and its current economic profile. Secondly, we will provide a set of scenarios that might occur in the future development of the U.S. and finally, we will determine which scenario is actually the most likely to happen in the future, by relating them with the current driving forces

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