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It’s good to be on top

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It’s good to be on top

So maybe American exceptionalism isn’t such a myth after all.

Well, look who’s top of the charts again.

As regular readers of this column know, I’ve been something of a terror on the subject of China’s assumed eclipse of the US as the world’s preeminent economy.  Seemingly every month we hear depressing predictions of an America in decline, and a China in the ascendancy.  Prior to that trope, it was the EuroZone that was the “next big thing.”

"It is morning in America. And, as ever, it is a wonderful place to be."

So, how’s that working out?

Well, according to a new report from professional services giant PwC, America is again the main focus of the global economy.

From the report:

The world’s CEOs are looking to the US for business growth in 2015. For the first time in five years in PwC’s Annual Global CEO Survey, more business leaders rate the US as their most important market for overseas growth ahead of all others, including China’s.

What’s remarkable about this development is that the American economy is reviving itself in the face of government policies over the past decade that seem almost designed to stifle growth. Tax hikes, massive new regulations, restrictions on energy production, ObamaCare, and on and on. 

And yet, the wonder that is the American economy has fought through all the noise and all the obstacles and is back in the driver’s seat.

This is not the first time, of course, nor will it be the last that we’ve experienced periods of doubt, of uncertainty, of stagnation.  Anyone who has any recollection of the Carter era in the late 70s remembers this all too well.  But America somehow finds a way.  The extraordinary dynamism and regenerative power of this economy – and the American people upon which it depends – is truly a wonder to behold.

We have problems, of course, and risks remain abundant.  There is much to be done on the public policy side of things to ease the burden on our entrepreneurs, our workers, our companies large and small. 

But, as ever, it is morning in America. And, as ever, it is a wonderful place to be.

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Angus DuBois
Angus DuBois
Angus DuBois is the nom de plume of an entrepreneur of 20 years who, in cowardly fashion, prefers to keep his/her business identity a secret. Comments can be forwarded to angus@nexxuspublishing.com.

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