America lost its lead as the world’s top manufacturer to China. That is in part the basis of the argument that China’s Gross Domestic Product will pass America’s sometime before the middle of the century. China’s rising population will continue to push its GDP growth higher. The same thing happened to the US from 1950 until 2000.
Some experts on the global economy argue that the demise of US industry will accelerate as unemployment remains high and the government wrestles with its budgetary problems. It would be a mistake, however, to assume that the US cannot keep its position as the world’s leading economy because some of its largest companies and their industries completely control many of the business sectors most critical to the future of global economic growth.
24/7 Wall St. looked at industries in which US corporations are leaders and chose those that are most likely to develop products and services which will allow global GDP growth to continue. American companies not only control these industries now, but they also will control them for some time because of their large leads in research and development
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