is USA a global hegemon

Cards (11)

  • The USA has the world's largest economy. US GDP in 2016 was $18.56 trillion.
  • the US dollar is the main form of international currency
  • Wall Street is the World's central global trading hub
  • The USA has huge amounts of structural power in important organs of global economic governance, such as the World Bank, IMF and WTO
  • The USA has an expanding population that is estimated to reach 439 million by 2050.
  • China is expected to overtake the USA in terms of its GDP and foreign direct investment by around 2020
  • US debt to China in January 2017 amounted to $1.051 trillion
  • The collapse of Lehman Brothers, which helped to precipitate the 2008 global financial crisis has undermined faith in the Washington Consensus
  • China has overtaken the USA as the biggest investor in Africa and South America
  • The AIIB is based in Beijing and is designed to challenge the World Bank as a major lender in the developing world
  • Only three of the top ten wealthiest companies in the world in 2017 are American (Walmart, Exxon Mobile and Apple). Three of them are now Chinese (State Grid, China National Petroleum and Sinopec)