What makes a country powerful? Is it
military might, economic production, or foreign policy influence? Since each of
these three metrics are important in their own right, we’re going to factor all
of these into our assessment, economic power will be more heavily weighted as
it does affect the ability to finance the other two ventures.
10. India – Powerful or Not?
The world’s second most populated
country is also a major world power and a regional superpower. Strong economic
growth is largely due to the fact that India’s population is getting more
educated and the economy as a whole is getting more advanced. India has a huge
amount of human capital that is only limited by the fact that a large
percentage of its population still lives below the poverty line. Once Indians
can develop their infrastructure to reach those who have been underserved due
to societal restrictions, this country will surely rise to the occasion to
become a stronger player on the world stage.
India is also beginning to develop a
fairly reputable entertainment industry and a strong technology industry. Many
companies look to India for their outsourcing needs since the labor is
relatively cheap and India has a large number of English speakers. Call centers
and IT hubs have become staples of the Indian economy, after manufacturing
these are the major industries to watch out for in the future. India’s film
industry, nicknamed Bollywood, has gotten bolder over the last few years. These
movies are shattering Indian box office records and are bringing in a lot of
money for the entertainment industry. Indians abroad, as well as Nepalese,
Bangladeshis, and Pakistanis, love Bollywood and they support its attempts at
bringing a uniquely Indian flair to the entertainment industry.
9. Brazil
Brazil is one of South America’s
strongest economies, since its inception this country has exerted considerable
influence in South America and it’s making a name for itself on the world stage
as well. The World Cup was Brazil’s way of showing the world that it had what
it takes to rise to the occasion. This beautiful multicultural society has vast
amounts of natural resources to draw on, however, they must also make sure not
to exploit nature so much so that they risk harming the environment. This
careful balancing act is very difficult for an emerging economy but Brazil has
shown that it is resilient to hardships and it can bounce back very quickly,
just look at how well they bounced back after the economic crises of 2008.
8. Italy
This small nation is boxing way
above its small area would suggest, and it always has, these modern day Romans
transformed there largely agrarian country into a modern industrialized nation
in the few short decades following the second world war. Italy is the 10th largest
exporter in the world, a stunning feat considering there are many larger
countries with vastly greater reserves of natural resources that aren’t even
comparing in terms of GDP. Many people flock to Italy every year to visit the
ancient ruins of the Roman Empire, they also want to visit Italy’s beautiful
coastline.
Known the world over for their fine taste
in automobiles, food, music, and fashion, Italian companies dominate the top
positions of their respective industries. However, not all is well in Italia,
the past 20 years have seen a decline in growth and the Italian economy has
been especially affected by the economic crises of 2008. If past history is any
indicator of future performance than Italy will bounce back from this as strong
as ever.
7. France’s Limited Power
France is the world’s sixth largest
economy and has the largest business district in Europe, La Defense. The French
economy is the 3rd largest in Europe and it is also the wealthiest
European country in terms of number of wealthy individuals, with 2.6
millionaires residing in its borders. Machinery, chemicals, cars, aircraft,
electronics, textiles, and tourism are the biggest industries in France. France
is a huge destination for tourist as it is the world’s most visited location,
people visit France to soak up its rich history and experience the fine dining,
fine arts, ski in the mountains, or drive along the French Riviera.
France recovered much better than
other industrial nations following the economic crises of 2008-2009, and it
entered the recession much later than other countries. France is also the world
leader in developing Nuclear energy, 78.1% of all of the country’s electricity is
provided by nuclear sources, followed by hydroelectric power at 11.1% and
Fossil fuel at 9.5%. Because of this France is the smallest emitter of carbon
dioxide among the seven most industrialized nations, this is a remarkable feat
and one that will certainly be followed by countries as pressures for
environmental preservation continue to increase.
The French people are happy too,
French citizens enjoy the benefits of a socialized society, with free
healthcare and guaranteed pensions. Although this does mean they get taxed
considerably higher than their counterparts in the United States, the top tax
rate in France is 75% for those who earn over 1 million euros and the
corporate tax rate is 70%. Not only is France well known for its industrial
power but it also the world’s sixth largest agricultural producer and the EU’s
largest agricultural producer. This diversified economy has done well to
insulate itself from major disasters.
6. Japan
Japan has been a major world power
since they switched to the market economy back in the mid-1800s during the Edo
period. Japan has fallen on some hard times lately due to the economic
recession of 2008 as well as Japan’s massive public debts, over 200% of GDP at
one point. Still Japan is the world’s third largest economy after China and the
United States. Three quarters of the nation’s gross domestic product comes from
the service sector. Japan is also the second largest producer of automobiles in
the world. Along with automobiles they are also leading producers of
electronics, machine tools, chemical substances, textiles, and processed foods.
5. How Powerful is Russia
Russia is the world’s largest
country by area and has more natural resources than any other country. Natural
resources account for 30% of overall revenue. Of these, oil, natural gas, and
precious metals make up the large portion. Russia is also a highly capable arms
dealer, exporting 15-20 billion dollars’ worth of arms every year, second only
to the United States.
Russia is dealing with many issues
currently that could affect its standing in the world. First, lowered oil
prices have hit the Russian economy especially hard as oil constitutes 15% of
their overall GDP and 57% of their federal budget. Besides that they are facing
several war fronts in Syria, Ukraine, and to a lesser degree in other former
soviet states. Also, due to Russia’s large mass, there have been governance
issues that have led to illicit funds leaving the country, over 800 billion
dollars in the last few years have left the country via hidden channels.
Analyst predict that Russia’s economy will shrink over the next few years due
to these pressures..
4. Germany
Germany is the largest economy in
the European Union with the largest population and it is undoubtedly the leader
of Europe after the financial recession from 2008-2012. Germany stood tall
after the Euro crises and leaders from around Europe looked towards Germany as
an example of solid financial responsibility and regulation setting.
Under the guidance of Chancellor
Angela Merkel, the Germans have exerted considerable influence in their region
and they are poised to overtake the U.K., if they haven’t already, in terms of
global positioning.
3. UK
The United Kingdom is Europe’s
second largest economy and it holds considerable influence both in its region
and globally. The UK has been a historical powerhouse since the industrial
revolution, and it still holds some influence over its former territories from
its empire days. These days the UK is still a major power but more in terms of
“soft power” as opposed to “hard power” or direct force. Soft power means the
U.K. holds considerable diplomatic influence. Still, don’t count out their
military power, the UK spends more on its military budget than any other
European nation, although it does plan on reducing its military budget
considerably between 2010 and 2020. Because of its strong mix of military,
diplomatic, and industrial strength, the UK remains Europe’s strongest country,
for now.
2. China is Very Powerful
The Chinese have been on a sharp
rise on the world stage in the past 20 years. Their country has seen average
economic growth exceeding 10% for decades, far exceeding many other industrial
nations. This rapid growth is fueled largely by the intervention of the Chinese
government and their focus on ensuring that their country is ideal for
companies who wish to manufacture goods. Besides manufacturing China is also a
large agricultural exporter. In the Far East China is the newest and strongest
superpower, holding considerable influence in geopolitical events as well as
economic trends.
The Chinese economy is second only
to the United States, and their military spending is one of the largest budgets
in the world. Although Chinas growth is expected to slow down over the coming
years, there is little sign of a deflation in sight. China’s growth is only
being further promulgated by the rise of its industrious and highly skilled
middle class. Unlike many other advanced economies, China has had great success
in tapping resources on the African continents by working closely with
government allies. The formerly largely agrarian society is seeing more and
more people migrate to its large cities, adding to the skilled workforce and
solidifying China’s place as the second most powerful country in the world.
1. USA – The Most Powerful Country
There are no surprises here, the USA
remains the number one super power in the world. Although citizens and
residents of the United States account for only 5% of the world’s population,
the United States accounts for nearly 20% of the world’s GDP, 18 trillion
dollars per year. The U.S. is the world’s largest producer of oil and natural
gas, it is the second largest trading nation in the world, the second largest
manufacturer, the largest and most influential financial markets, and the
highest trained and most skilled labor market in the world. In essence the U.S.
dominates economically over any other country. The U.S. dollar is one of the
strongest currencies in the world and it is the most used currency.
Not only is the U.S. the largest
economy by a long stretch, it has the most powerful military by an even wider
margin. The U.S. military has more funding each year the next 10 most funded
countries combined! The U.S. isn’t afraid to flex its military and diplomatic
muscle whenever it feels its interest have been threatened, something that has
been both applauded and denounced by the international community.
Lastly, not only does the USA
dominate in economics and military might, it is also a large cultural exporter.
Hollywood, the music industry, fine arts, theatre, you name it; people around
the world consume American culture because our entertainment industry is well
established, well-funded, and of a high quality. American celebrities, pop
culture, and movies are known worldwide, even countries where the majority of
people don’t speak English, they are still knowledgeable of American popular
culture. Analysts believe that the U.S. is poised to remain as the most
powerful country in the world for at least the next ten years, but on cultural
influence alone, the U.S. is poised to remain relevant for a decades if not
centuries ahead.
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