Because America lasting benefits may enable the country to emerge stronger after COVID-19

COVID-19 tens of thousands killed by the Americans, thrown tens of millions out of work, ending the longest run bull market in modern American history. It ‘been proved beyond reasonable doubt that the US policy has only become more polarized. However, judging his broader comparative advantages show that stumbles in America through this crisis with less permanent damage you can expect that other nations to get. First, the United States still the old blessing enjoys favorable geography. Although the security of its southern border will remain a hot political topic, the country is not, as you can expect pressure from the European future waves of desperate people struggling to escape the Middle East and North Africa. There are current US advantages too. In 2008, even before the financial crisis has slowed the economy, the US has only produced 5 million barrels of crude per day. After years of innovation in the exploration and production, this number has increased to a record high of 12.3 million in 2019. Earlier this year, she has prompted a price war with Saudi Arabia against Russia has a number of companies US energy in financial difficulties, but the Saudis and the Russians under pressure from President Trump, back off. And ‘food production, has also forced in a world where both a resurgence of poverty in the crown of Agriculture Course will cause many countries and that the climate will face the damage that matter. Only China and India produces more food than the states that needs stuff like the giant much less mouths. America also enjoys substantial economic benefits. The crown has put banks in the world are under tremendous stress as risks standards Skyrocket. But the prices of credit default swaps suggest that large European banks investors considered at higher risk than their counterparts on Wall Street, in part because the largest US banks had more capital before the crisis. There is also the continuation of “exorbitant privilege” that Americans enjoy, thanks to the continued dominance of the dollar as the main reserve currency of the world. In the last quarter of 2019 almost 61% of global currency reserves in dollars. The euro was a distant second with less than 21%. When governments have to deal with stress, they need dollars, and that allows the US to continue to borrow can like no other country. But the biggest advantage for the post-COVID future is the continued dominance of the US technology companies. It is not just that 13 of the 16 largest Internet companies in the world are American. And ‘that the United States produces much more of the largest digital platform company in the world and “unicorns” Startup innovation in artificial intelligence, big data, cloud computing, autonomous vehicles, drones and other innovative technologies that developing World economic car dominate in the coming decades. The crown has its advantages actually improved to restart because of its central importance in closed economies. Think for detecting GeoTracking contacts, development of immunity passports and the ability to do business, maintaining social distance. US companies will set new standards in all these areas. Many more people will die. Life is overthrown and lost livelihoods. But whatever dysfunctional American politics can be said for the way the tragic and lower health system of the country, the United States has brought benefits that are important in the coming years lasting. This appears in the May 18, 2020 issue of time.
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