Global financial dominance

in long-term relative decline compared with that of China. However, the United States appears to be recovering from the shock of the COVID-19 pandemic better than most of the developed world. Growth in American real gross domestic product (GDP) was 2.5 percent in 2023, which was better than expectations and beat the global average.13 The United States also has many other durable economic advantages Global financial dominance remains a critical American power advantage and is likely to endure despite increasing international pressure from China to end the dollar’s role as the main currency of international transaction ufabet