U.S. Economt Today, According to Key Econmic Indicators

According to the United Sates GDP for the past 40 years, we have already hit the peak of the economic cycle and have started to decline. All economic systems go from high to low, high to low so there is noting to worry about. Our current GDP is 14.119 trillion dollars which is still excellent. Now what worries me is our unemployment rate, because I feel . In 2008 our unemployment rate was 6.1, in 2010 it was 9.5, and in 2011 it is expected to reach 9%. Unemployment is a key indicator, in my opinion, to how a country is doing. A country can have a good GDP if they export a lot and keep the wealth in a small group, but the unemployment rate shows how the people are doing, which is what matters.
Our country is contracting because every is going down. What I feel we need to do is expand. We need to reduce the unemployment rate by creating programs that make jobs. This would bring a lot of wealth back into our country. Also we need to start producing more. Right now the US imports a ton but barely produces our exports any thing. If I was an economist with power, this is what I would do.

China Vs. United States

China is with out question the worlds fastest growing super power. There economy is an interesting mix of capitalism and communism. The govt is still communist but they are allowing capitalist to buy, produce, and create any thing they want within the country. In fact they highly encourage and protect their capitalist underlings. China was communist for a very long time until 1920 when they realized that capitalism would help. The country was very pour, but sense they have allow capitalists to due their thing, the country has begun to flourish. China focuses heavily on production and produces most of the worlds goods. They are the number one producer of solar panels according to the LA times.

This solar panel example summaries the U.S. Economy VS. the Chinese's. They are focusing more on the production of new technologies, along with all production together. The U.S. was once the number one producer of cars in the world, which was the new technology of the time, but now China has commandeered that role. This transition in power is mainly due to how cheep people in China are willing to work and the counties strategic move in making the "newer" thing. Migrant works are willing to work for cents for 12 hour shifts. This dedication and competition in China is causing them to out beat the United States.

http://www.nytimes.com/2009/08/25/business/energy-environment/25solar.html