The US role for the top influence and dominant in the world is now looking bleak than before. The country, which was the free and land of opportunities, is under a severe decline. There are a lot of factors that play a significant role in pushing the American dream to the edge. Whether they are the nuclear treaties or rising heat of criticism over the allies, the United States no longer leads the world. It is quite surprising how the country had gone weary even when it promised to stride the world with its dominance.
This decline has not started after Trump decided on foreign policy and interests. But this decline has already been proceeding after World War II. Indeed, America is still a powerful country to date. However, the economic crisis and their international status are becoming the possible causes of American decline. Now, the global pandemic is also breaking havoc on the states making the US economy even dreadful. According to experts, the novel coronavirus pandemic will lead the US towards a severe recession. With that said, let’s discuss three reasons why America is no longer leading the world.
US: NOT GLOBALLY COMPETITIVE
The United States experienced a significant technological boom after World War II. While at the same time, global leadership challenged with economic stability and competitors. Since the US economy is still trying to recover from the recession, the fundamental challenges like global competitiveness have become even more severe. The country’s commitments for science has technology has proven to offer a great deal of success. The US had already dropped from the top position of economic competitiveness last year. Even if the US maintains the highest corporate taxes, now the foreign policies are challenged with more reliable and better markets.
Many new emerging markets like India and China are putting a lot of pressure on US global relations. Now with the US productivity lines are set to halt, that is leading the nation to collapse. Most of the companies are no longer global competitive. In this case, the only solution to the problem is by producing more qualified personnel who have a background in diplomacy.
INCREASED SOCIAL INEQUALITY IN THE US
Social inequality has always been a central problem of the US, and it is now pushing it to the edge of collapse. Social discrimination, whether it is political or job policies, has increased in recent years. Many professionals now characterize this inequality as the great depression, which will affect not only the US economy but also the international interests. First, let’s take the wage inequality of the workers, among dramatic increases in the recent decade. According to research in 2018, 20% of the total household jobs provided more than half of the entire US income.
Moreover, the wealth gap between the richest and poorest has doubled in recent decades. The incomes for the middle-class groups have grown at a much shorter rate of 49%. At the same time, the top-class revenues to a rate of 64% in the recent decade. Not just that, but homelessness also adds up to the list of social inequality in the US. According to research, 17 out of every 10,000 people were experiencing homelessness in earlier 2019. These statistics clearly show the unfair distribution of the wages to the people of the free world. The disturbance in economic stability is causing these peaks in social inequality.
INSTABILITY IN SERVICE SECTORS
Another major problem that has affected America’s credibility to lead the world is its instability in health and finance. The United States is already suffering a lot from the economic pressure and social injustice for the citizen. In comparison, the service sectors have made the suffering more disturbing because it is the leading economy of the country. One reason for that is the service sectors are considered the central marketplace of the country. However, this economy is now destroyed with personal benefits, excessive expansion, which caused the financial crisis.
The US government has also imposed different laws and regulations to maintain the rising issues related to health and finance. But whether these laws will be followed or supervised by the higher authorities is still a question. The country needs prominent measures to control the wealthy groups for earning too high profits. The quality and efficiency of many other services like banks, hotels, airlines have also declined. Especially the tipping culture is causing more disruptions for tourism in America. The gratuity in the US is optional for a name only. Whether you liked the services or not, the waiters will always chase you down the street to ask for a 20 percent tip.
Countless problems are putting adverse effects on the economy and global strength of the US. Still, it is quite hard to predict whether the US will recover from its declining state, or it will continue to go down. America needs to rediscover the dream and learn new rules to dominate in the world.