Egypt’s Economic Modernization Will Support Democratization
A successful Egyptian transformation to democracy will require not only political reform, but also increased economic opportunities for the Egyptian people, and the Obama administration wants to encourage private enterprise through partnerships with American companies.
The United States also wants to complement private sector initiatives by supporting infrastructure development and mobilizing other resources to spur [...]
G7 Pledges to Support Global Economic Recovery
Finance officials from the Group of Seven (G7) industrialized nations pledged to work together to support the global economy as it faces “significant challenges” to recovery.
“We are taking strong actions to maintain financial stability, restore confidence and support growth,” the group said in a communiqué issued September 9 at the top of a three-day meeting [...]
Obama: U.S. Committed to Remain Top Choice for Foreign Investors
President Obama says the United States is committed to remaining “the most attractive place for businesses to locate, invest, grow and create jobs” as a new study finds that foreign direct investment in the United States jumped 49 percent from 2009 to 2010.
“In a global economy, the United States faces increasing competition for the [...]
1st Greek Power Summit 2011: Helping Greece Rebuild
Steve Forbes, Chairman & CEO of Forbes Media (USA), will be joined by some of the most influential and prominent global industrialists to express their ideas and deliver their views on the region’s economic agenda. Day One will feature an exchange of views and opinions with Greek government officials on how Greece can attract large [...]
Evolution of the Economy
The U.S. economy has changed beyond recognition over two centuries, but some features endure: a vigorously competitive marketplace, spurts of invention and innovation, political swings between more government regulation and less, between higher protective tariffs or other barriers and freer trade.
Spanning much of the territory between two great oceans, the United States is blessed with [...]
Government’s Role
Americans have long debated the proper role of government in the economy. In 2010 that debate focused on issues including government rescues of big financial institutions and automobile manufacturers in the recent severe recession, mandated expansion of health insurance coverage to more people, tougher financial regulation and offshore oil drilling.
The debate goes back to the [...]
Linked to the World
Trade ties the U.S. economy inextricably to other world economies. In 2010, U.S. exports of goods and services amounted to $1.8 trillion, about 12.5 percent of gross domestic product; U.S. imports were much higher, $2.3 trillion. Americans have for years imported far more goods and services than they exported, incurring increasing debts to foreigners in [...]
Challenges
“The panic itself was felt in every part of the globe,” the Wall Street Journal reported. “It was as if a volcano had burst forth in New York, causing a tidal wave that swept with disastrous power over every nation on the globe.” One of the after-effects was “an accumulation of idle money in the [...]
A New Chapter
“The hard truth is that getting this deficit under control is going to require broad sacrifice.”
President Barack Obama
2010
The United States and much of the developed world escaped the worst of the possible outcomes associated with the 2008 financial crisis. But the United States and other industrial nations still faced high unemployment, unsatisfactory economic growth [...]
U.S. Economic Recovery Continues, Job Rates Improve
The U.S. economic recovery is proceeding at a moderate pace and overall conditions in the labor market are improving gradually, Federal Reserve Chairman Ben Bernanke says.
“I am very confident that in the long run, the U.S. will return to being the most productive, one of the fastest-growing and dynamic economies in the world. It hasn’t [...]
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