The Simple Truth About the U.S. Economy
Consumers need to spend to get the economy going—it’s that simple. In the U.S., consumer spending accounts for about two-thirds of gross domestic product (GDP) growth, so clearly, it’s critical. In comparison, consumer spending in China accounted for about 37.71% of GDP growth in 2011, according to the World Bank.
In China, the government is sitting on trillions of dollars in foreign reserves and cash, which the country can use to spend on its economy to boost its GDP growth.
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