The U.S. economy is a world beater again--but 2014 will tell whether that's good for everyone
Is the U.S. economically exceptional? It’s a question that’s suddenly worth asking, since 2014 looks to be the year the U.S. will regain its traditional position as the world’s economic engine–a role that seemed lost forever in the dark years following the 2008 financial crisis. Assuming the current projections of 3%-or-more GDP growth for this year hold, the American economy will, for the first time in more than five years, expand as fast as or faster than the global economy as a whole. It will top many of the once hot emerging markets as well. The resurgence has myriad implications for the U.S., of course. But given the implications for the global economy, it’s attracting attention everywhere (including among the leaders gathered at the World Economic Forum in Davos from Jan. 22 to Jan. 25).