According to most estimates, one of the main causes of the global financial and economic crisis in 2008 was the US debt problem, which, in fact, caused the so-called “domino effect” on the entire global financial and economic system. This subsequently had a number of military and political consequences of a global nature, the main ones being a change in the balance of power in the world, as well as increased instability at the global and regional levels.
First of all, the role of the United States as a world leader has diminished, and the EU, which was considered a leading international organization, has weakened. This strengthened the position of the BRICS countries, which are characterized by positive development dynamics. Negative consequences of the global financial and economic crisis became a kind of catalyst for the “Arab Spring” in North Africa and the Middle East, whose territories were quickly engulfed in social unrest and armed conflicts.
Even under such circumstances, the US economy remains the factor that largely shapes the financial, economic, military and political situation in the world. In addition, since the beginning of this year, there has been a trend of its (the economy’s) gradual strengthening.
In May of this year, the legislative norm on setting the limit of the US national debt (suspended by the US Congress in January this year) at the level of about 16.7 trillion US dollars was restored. THE UNITED STATES. According to U.S. Treasury Secretary J. Lew, no problems with debt service are expected at least until early September 2013. By this time, congressmen hope to determine and approve a new limit of the national debt in order to prevent a technical default of the country.
In view of the above, as well as due to the improvement of bank capital and asset quality, lending conditions for individuals and companies have also improved. In addition, the Federal Reserve System continues its loose monetary policy by purchasing government bonds and mortgage-backed securities totaling at least USD 85 billion per month. The US government continues to pursue a soft monetary policy by purchasing government bonds and mortgage-backed securities totaling at least USD 85 billion per month, as well as maintaining a near-zero interest rate on federal funds, which helps to increase consumer spending and boosts business activity in the country.
E. Moniz is in favor of further increasing the production of shale hydrocarbons in the United States and increasing the volume of liquefied natural gas exports, which will help strengthen the country’s energy independence, increase the competitiveness of the American economy, in particular, increase the supply of gas in the world and European markets.
P. Pritzker, one of the richest citizens of the United States of America (total capital of 1.9 billion US dollars), who specializes in real estate investments and hotel business (owns the international hotel chain “Hyatt”), has been appointed as the US Secretary of Commerce. During the first and second presidential campaigns of Barack Obama in 2008 and 2012, Ms. Pritzker served as the Chief Financial Officer of the campaign. The main focus of her work as the US Secretary of Commerce is the implementation of the President’s program to develop trade and strengthen the middle class in the country.
The launch of negotiations on a free trade area between the United States and the European Union is a positive development for the US economy. The first round of negotiations was held on July 8 this year in Washington under the auspices of the Office of the U.S. Trade Representative. The relevant agreement on this issue is expected to be concluded in 1.5-2 years. According to experts, the elimination of import duties between the United States and the European Union, as well as unification of rules for exports and imports of major types of goods and services (cars, medicines, medical equipment, agricultural products, transportation, etc.) will contribute to the growth of the US GDP by 0.4 % and the EU GDP – by 0.5 %, which will amount to about 116 billion US dollars per year. US dollars per year. In addition, it will create about 2 million jobs.