The Global Question: Who Needs the US?

Global trade has flourished in recent years, so much so that it’s no longer the province of developed nations. The US is the world’s leading economy, accounting for almost 30 percent of the world’s gross domestic product, yet the nation cannot sustain prosperity by living on funds borrowed from China and other nations that save. Economists remain divided about how much a disruption in any individual economy – due to a plummeting real estate market, currency or savings rate – threatens the global economy. Together, developing nations carry great influence over the global economy, with “Time Magazine” reporting that they soon could account for more than half of the world’s economic output. – YaleGlobal