What makes USA the richest country in the world?

Mudassir Ali
Apr 15, 2020 08:23 AM 0 Answers
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What makes USA the richest country in the world?

Mudassir Ali
- Apr 15, 2020 08:23 AM

Originally Answered: What makes USA much more richer than all countries of the world?
By measures like GDP per capita, the US not the richest. Norway, Qatar, Switzerland and Luxembourg are ahead.

By Gross National Income (GNI) per capita the US is also behind several countries, including Norway, Switzerland, Australia and Sweden. These are all small countries by population.

But what makes America the richest country on Earth (by far) is its sheer scale. There is no other country that is as large, as populated, and as highly developed.

The US economy is the largest of any country, measured by nominal GDP. As of 2014 it is still 1.7 times that of China’s, even though China has five times as many people as the US.
The same can be said of things like income, GNP, GDP adjusted for purchasing power, etc.
The US has a gigantic amount of wealth. According to Credit Suisse, US citizens own a net $86 trillion in assets minus liabilities. The US has more national wealth than all of China, Japan, the UK, France and Germany combined – the next five countries down the list.
Half the world’s billionaires are from the US. America is where the rich can become richest.
Of the 14 countries with a human development index over 0.9, the United States is the only one with more than 85 million people.
The reasons behind this are simple. America takes up a huge, resource-rich, agriculturally productive swath of land. We have the best latitudes of North America all to ourselves, while Europe is split into dozens of countries. Our country’s biggest growth was from Europe in the 19th century, meaning we had access to large amounts of Old World money to build our industrial dreams. We survived World War II untouched while Europe was destroyed, and the other continents underdeveloped.

Basically, we got phenomenally lucky. We cannot count on more of this luck if we want to continue developing.

Mudassir Ali
- Apr 15, 2020 08:24 AM

No, well at least not anymore. It’s one of the wealthiest empires on the planet. Let’s look at top 20 richest empires on the planet according to the world data about each nation’s GDP of 2017. The world’s GDP is 126,687,917 Trillion Dollars while in 1950’s worlds GDP was 5,331,689 Millions Dollars with United States dominating the world market.

China – GDP 23,194,411
European Union (26 States) – GDP 20,852,702
United States – GDP 19,417,144
India – GDP 9,489,302
Japan – GDP 5,420,228
Russia – GDP 4,134,668
Brazil – GDP 3,938,001
Indonesia – GDP 3,257,123
Mexico – GDP 2,905,392
Turkey – GDP 2,406,199
South Korea – GDP 2,303,108
Saudi Arabia – GDP 2,082,079
Canada – GDP 2,029,706
Iran – GDP 1,535,491
Australia – GDP 1,251,416
Thailand – GDP 1,226,407
Egypt – GDP 1,197,967
Taiwan – GDP 1,177,052
You may be saying, well some of these countries are developing countries. Education and populations has a big contribution to overall country infrastructure. Without these nations, human civilizations would not survive even for a day. Imagine what kind of a world it will be, if we put our differences aside and work together as one. That reality is closer than you may think with new global leaders rising for power and global stability.

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