{"id":33213,"date":"2024-10-09T08:10:00","date_gmt":"2024-10-09T13:10:00","guid":{"rendered":"https:\/\/ustower.net\/?p=33213"},"modified":"2024-10-31T22:18:13","modified_gmt":"2024-11-01T03:18:13","slug":"bidenomics-strikes-again-us-global-economic-share-dips-below-15-for-first-time","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=33213","title":{"rendered":"Bidenomics Strikes Again: US Global Economic Share Dips Below 15% For First Time"},"content":{"rendered":"\n<p class=\"has-medium-font-size\"><strong>The US share of the global economy has tanked below 15% during Joe Biden\u2019s presidency. By the end of his term, it is projected to hit a record low of 14.76%, according to Sputnik calculations based on data from the World Bank and the International Monetary Fund.<\/strong><strong><\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">In 1990, the US accounted for 20.16% of the global economy, measured by purchasing power parity (PPP). That share peaked at 21.01% in 1999, with an economic output of $9.6 trillion, compared to a global output of $45.85 trillion.&nbsp;<\/p>\n\n\n\n<p class=\"has-medium-font-size\">However, the US portion has steadily declined since, with the sharpest drop occurring between 2006 and 2008, when it fell by 0.6% annually. The US share temporarily increased during Barack Obama\u2019s second term, reaching 16.26% in 2014 and 2015, but failed in sustaining the momentum.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">By the end of Obama&#8217;s presidency, it fell to 16.04%. Subsequently, the US share declined by another 0.7% under Donald Trump. In Biden&#8217;s second year, the US share slipped below 15%, reaching 14.82% by the end of 2023.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">IMF estimates predict the trend will continue, with the US share falling by another 0.06% by the end of 2024, resulting in a cumulative decline of 0.58% under Biden to 14.76%.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Meanwhile,&nbsp;<a href=\"https:\/\/sputnikglobe.com\/20241007\/slapping-tariffs-on-chinese-evs-hypocritical-move-by-trade-protectionist-eu---analyst-1120453844.html\">China\u2019s share of the global economy<\/a>&nbsp;has surged to 18.76%, while Japan&#8217;s share has dropped by 4.33% over the past 33 years.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/sputnikglobe.com\/20241009\/bidenomics-strikes-again-us-global-economic-share-dips-below-15-for-first-time-1120483753.html\">sputnikglobe<\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US share of the global economy has tanked below 15% during Joe Biden\u2019s presidency. By the end of his term, it is projected to hit a record low of 14.76%, according to Sputnik calculations based on data from the World Bank and the International Monetary Fund. In 1990, the US accounted for 20.16% of [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":33214,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1155],"tags":[2292,1964,1782,10442],"class_list":["post-33213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-down","tag-economic","tag-global","tag-us"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/33213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33213"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/33213\/revisions"}],"predecessor-version":[{"id":33215,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/33213\/revisions\/33215"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/33214"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}