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Significantly of this dominance relies on possessing the planet’s only reserve currency, but in addition a technological edge. The US was not a dominant country right until following Planet War Two, he claims, and its investment in technologies has long been a essential driver of this shift.

When Edgecliffe-Johnson moved on the US a quarter of century in the past, it had been “unified by a story” and held with each other by its founding beliefs but the nation is much more divided now, he suggests:

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The May 2025 Main Economists Outlook explores critical tendencies in the global economic system, including the latest outlook for expansion, inflation, financial and fiscal policy. It underlines the Fantastic uncertainty of the present financial natural environment, highlights key motorists and impacts, and discusses the compounding effect of the ongoing AI revolution.

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