Question

Over the past 50 years, many countries have experienced an annual growth rate in real GDP per capita greater than that of the United States. Some examples are China, Japan, South Korea, and Taiwan. Does that mean the United States is regressing relative to other countries? Does that mean these countries will eventually overtake the United States in terms of the growth rate of real GDP per capita? Explain.

Answer 1

No, the U.S. is not regressing

No, it will not take over the U.S.

Step-by-step explanation:

No, the United States is not regressing because the poor country can boost their growth rate by taking the advanced technology from the developed countries like the United States. So it is easy to poor countries to increase their growth rate but for the developed nations who already using the advance technology is difficult to increase growth rate.

No, the country will not take over the United States because the percentage increase in GDP can be greater but actual value of GDP will be very high in developed nations.