Before researching, I use to think that the United States was a perfectly developed country and never considered how bad the recession is affecting its economy. Doing research on this country helped me look at the country is a wider perspective and realize its good points and well as its bad points. While it has a high GDP and is mostly free, it is struggling with issues such as its unemployment rate which is 9.7 which is not good at all for an MEDC. Also it has a negative GDP growth rate which means that though the GDP is high, it is decreasing each year and this could be harmful to the economy in the future.
The US can be compared to many other countries. For instance it is similar to Singapore in many ways. Both these countries are MEDCs that are struggling with economic growth. They have roughly the same amount of GPD per capita with the US having $46,000 and the $53,900 and they both are not landlocked. However, they have different methods of acquiring their statuses as an MEDC. While Singapore depends on its many ports, the US depends on its entrepreneurship and vast amount of natural resources. Through this one cay see that the US and Singapore have different ways to obtain the same status (MEDC) just like many other countries as well.
Throughout this project I have learned a lot about the countries all around us. While researching on the US, I was shocked to see that while it was an MEDC, it was still struggling with economic growth. However, due to the fact that the economic recession started in the US, this fact now makes sense to me. I am glad that I was able to do this project because it allowed me to learn about many countries in the world and where these countries stand.