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US Role in World Economy

1. Describe the U.S. role in the world economy.

2. With respect to international business, What is the Triad? What is the Quad? Why are they important to international business?

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The US plays an important role in the world economy:
The World GNI is 39,205 Billion $ and of this the USA has $12,150 billion!
The US is one of the main economic powers in the world. The USA contributes to the world economy by way of scientific contribution. There are 3.676 scientists per million inhabitants and this is the third highest ratio in the world. The USA contributes to the world economy through its development of information technology. It has the highest number of computers connected to internet for 10,000 inhabitants. The USA is a large exporter of technology.
US plays a pivotal role in the world economy. It has the largest GDP at $ 13.22 trillion in the world during 2006. In addition, the US has financial involvements with a large number of countries abroad, its liabilities to foreigners in 2005 were $10.4 trillion whereas its net investment position was a negative $2.7 trillion in 2005.
One of the greatest roles that the US is attributed to have played is the role of current account deficit. The US has overspent and under saved; on the other hand the Asian economies have saved a lot and have refused to ...

Solution Summary

US Role in World Economy is discussed very comprehensively in this explanation.