After 15 years of watching the emerging markets of Europe, Asia, and more specifically China, the United States takes the lead as the driving force in the global economy. This can be attributed to the world largest economy expanding by 3.2% this year. Unemployment is down to 5.6% and consumer spending is expected to be over $11 Trillion. This is not to say America was not already a leading economic country in the past, but right now as other countries are struggling to fight deflation of their currency and the US growing puts the country on a stronger economic position. The major trick will be to keep it as the world’s leading economy.
In addition to this positive news for the previous year, the yield rate on government securities is also down. That information was a bit shocking to Vijay Eswaran when he heard. Meaning the government is not overleveraged on its public debt. All of this positive news has given the confidence of the business world that people want to spend money on their products. Therefore they should expand their operations to meet the demand. Taking all of this, and oil prices hovering at around $50 per barrel should mean that this positive economic spending among consumers and businesses should not slow down for the first part of 2015. This could very well keep the country in somewhat control of the world’s economy. However, just as our country made decisions that put us back on top. The other countries will be doing the same to regain their foothold.