The New Global Economy As An American Economy Essay

1403 Words Oct 23rd, 2016 6 Pages
It is important to note that there is no such thing as having an American economy. This is because as we move towards the 21st century, a country will have goods, money or services that do not know any borders. Other challenges include the kind of skills most valuable in the coming century and how a country would best ensure that all its citizens get a share within the new global economy would face the United States in the 21st century. It follows that the global economy is living through transformations which would rearrange the politics as well as economics in the new century. However, the people will be the ones who will be rooted in the national borders which would have major implications in the political scene globally. On this context, the role of this essay is to choose five different scenarios which have been observed by Robert Reich and projected to take place in the 21st century in the American and global economy while providing the rationale for the observations. The essay then thinks and reflects on the five scenarios on the Canadian context. Changes in technology that allows for rapid transfer of information and wealth, the most valuable skills in the 21st century, political pragmatism, patriotism and the rise in economic preeminence.
Rationale for the observations and reflections Reich talks about the changes in technology that will allow transformation of wealth and information across the world. Boundaries that have protected the economic…

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