In the early 1990s, the US was the dominant economic force in the world.
It had the world’s largest economy, the second largest military, the fourth-largest trade, and the second-largest gross domestic product behind only the US.
And it had the second highest per capita income in the developed world behind only Russia.
But now, in the years since its demise, it has been the only economic power to be largely ignored by most of the world, and largely overlooked by most people outside the US, who are largely dependent on it.
In many ways, the rise of the US economy has been an enormous success story.
But as it has grown, its role has become less important to the rest of the developed and developing world.
A study released this week by the Peterson Institute for International Economics shows that, despite the United States’ economic dominance, its economy has not generated the kinds of growth that its proponents claim it has, even though its gross domestic output has grown faster than all but three of the countries it has controlled for decades.
In a paper titled “Is the US an economic superpower?”, researchers at the Peterson Foundation found that the US has been able to do little to boost global economic growth since World War II, while China and Russia have grown at an astonishing rate.
Their findings are the first to assess how this has affected the global economy.
Their research is based on the Peterson Business Cycle Model, a long-term economic forecast developed by economists at the think tank.
This model estimates how the world economy would respond to different factors over a sustained period, such as when the world has reached its maximum growth, its maximum potential growth, and its maximum maximum potential for future growth.
They found that, in most cases, the models have consistently underestimated the potential for growth to continue, because the US economic performance has been dominated by its dominance of the global financial system and its dominance in the global food and energy sectors.
The report notes that, since the end of the Cold War, the world is experiencing a very large economic contraction, and that a lot of the problems that caused the economic collapse of the 1990s and 2000s, such of a high debt, a high inequality, and low growth, are now well-documented.
It’s hard to find economists in the West who would argue that the global economic system is more or less stable or that the financial system is in better shape than it was before the financial crisis.
And yet, in some ways, it is.
The Peterson Foundation estimates that the United Nations predicts that global economic activity will shrink by 0.8 per cent in 2019 and by 1.4 per cent by 2022, the global population will grow by 5.2 per cent between 2016 and 2045, and global GDP will shrink 7.7 per cent from 2015 to 2019.
All this could be in the realm of possibilities, but the Peterson model says the global system will not collapse.
It predicts that the economic slowdown could begin to abate as soon as 2020, with the US and its European allies expected to return to their pre-crisis growth rates by the end.
“While the US remains the dominant player in the international economy, other countries are growing faster, and their economies are benefiting from the global boom,” the authors write.
But while it may seem obvious to some people that the country that has always been dominant in the industrialised world has become a relatively minor player in today’s economy, this is actually the case.
The US has never had a monopoly on economic activity, and has had a relatively small share of global output and income.
In the 1920s and 1930s, for example, the country had a share of the total global economy of 1.1 per cent, while the UK, France, and Germany were at around 8 per cent.
But over the past 30 years, the share of world economic output that goes to the US jumped from 1.6 per cent to 6.4%, and the share that goes back to Germany fell from 10 per cent back in 2000 to 5.4% in 2019.
The authors suggest that the rise in the share the US gets from global output is largely due to the fact that, historically, the United Kingdom and Germany have done much better in their economies than the US did in the 1920 and 1930.
The countries that have been the fastest-growing economies, like Germany and the UK and France, have been able because of the internationalisation of the European Union, which has opened up trade routes, and because of higher domestic demand.
And the US can have its cake and eat it too, since it has also been a major beneficiary of internationalisation.
It was the US that brought about the modernisation of steel, the industrialisation of medicine, the modernising of technology and the modernizing of agriculture.
This has had enormous benefits for the US over the last few decades.
But because of its size, it still has an economic