Here Are 10 Things That Are Right With America

There’s no shortage of things that should be fixed in the U.S. There’s the “crumbling” physical infrastructure, the never-ending bipartisan arguments in D.C., the inadequate public school systems… and list goes on.

But there are also things that are going right in the U.S.

U.S. Trust’s Joseph Quinlan identifies these in his “What’s Right With America” thesis.

“From our vantage point, America needs to leverage its strengths to correct for its weaknesses,” he wrote.

1. The U.S. is the largest and most productive economy in the world.

Developed Economies Back Above Pre-Recession Output Levels (Real GDP level, Q1 2004=100)

The U.S. is one of the only developed economies whose GDP is higher today than before the economic crisis.

Plus, the U.S. economy accounts for almost 1/5th of the global GDP, even though it only has 4.5% of the population.

Source: U.S. Trust, Bank of America Private Wealth Management

2. The U.S. remains a global leader in manufactured goods.

Manufacturing Employment in the U.S. (# of people, millions)

In nominal terms, U.S. manufacturing output was upt to $2.1. trillion in 2013. That's a 21% increase from the low 2009 numbers.

Since February 2010, the manufacturing industry has added approximately 700,000 workers.

Source: U.S. Trust, Bank of America Private Wealth Management

3. The U.S. is among the largest exporters of goods and services in the world.

Exports Have Taken Off Since Recession Trough (Monthly exports of goods and services, billions of U.S. $US)

Today, exports are up to $196 billion per month, after they dropped to $124 billion per month in April 2009.

The U.S. remains one of the major global exporters . In fact, the U.S.'s monthly exports are greater than most countries' yearly exports.

Source: U.S. Trust, Bank of America Private Wealth Management

4. The U.S. remains the world's favourite destination for foreign direct investment (FDI).

FDI Inflows: U.S. vs. China (Billions of $US)

'A vast and wealthy consumer market, a large skilled labour pool, a transparent rule of law, and lately, cheap energy costs -- all of these variables continue to draw capital from around the world,' writes U.S. Trust's Joseph Quinlan.

Source: U.S. Trust, Bank of America Private Wealth Management

5. America is home to the world's top global brands.

BrandZ Top Most Valuable Global Brands 2014

Every year BrandZ puts together a list of the top 100 global brands. For 2014, the top 10 were all American.

Source: U.S. Trust, Bank of America Private Wealth Management

6. The U.S. remains the world's technology leader.

The U.S. is a Technology Titan. (Global IT spending, % of world total)

The U.S.'s spending on IT technology as a share of the global total has remained steady from 2006 to 2012.

You can see on the chart that these numbers are significantly higher than Europe and Japan and China's spending levels.

Source: U.S. Trust, Bank of America Private Wealth Management

7. The top-ranked universities in the world are in the U.S.

Top 10 Universities in the World

The U.S. has some of the best universities in the world.

6 out of the top 10 universities for 2013 on the Quacquarelli Symonds World University Ranking were from the United States. Overall, 30 out of the top 100 were.

Source: U.S. Trust, Bank of America Private Wealth Management

8. The U.S. dollar is still the world's top reserve currency.

World Central Bank Reserves: The Dollar vs. the Euro (Billions of $US)

Approximately 61% of the global central bank reserves for Q1 2014 were U.S. dollars -- a number that's remained stable in the post-crisis years.

Even though gold and the yuan have recently become more popular, the dollar is still on top.

Source: U.S. Trust, Bank of America Private Wealth Management

9. The U.S. is one of the most competitive economies in the world.

Top 10 Competitive Economies in the World

The U.S.'s top research universities and 'innovative capabilities' have kept the U.S. a major competitive economy, even after the financial crisis.

Source: U.S. Trust, Bank of America Private Wealth Management

10. The U.S. as an energy powerhouse.

U.S. Crude Oil Production, 4-Week Average (Million barrels per day)

The U.S. has three 'super oil friends' in operation, which has lead to incredible increases in crude oil production since 2009.

In fact, the International Energy Agency believes that the U.S. will surpass Saudi Arabia as the world's leader in oil production in 2015 -- and will remain in the lead until the 2030's.

Source: U.S. Trust, Bank of America Private Wealth Management

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