Tittle: Top 3

World Leaders
in Economy
A Manuscript
Presented to FPT Faculty of English
Group 4 of TRS601.25 at last Presention of TRS601.25 –
English preparation course Hoa Lac, Hanoi, Vietnam

Partial Course Requirement for the English Preparation

Course TRS601
Phan Thi Linh Ngan
Do Van Chung
Summer Semester Part 2, July 2021

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 BACKGROUND

The importance of top 3 leader economy in the world will be discussed in

this manuscript. It will also top 3 countries (US, Russia, China) and their impact

on economic- world. It will include a sport vocabulary and terminology to help the

reader understand the topic. In addition, it will highlight the overview of 3

economies and history development of 3 leader economy. Visuals and other

graphics are also presented to make the ideas clearer.

Two presenters, Phan Thi Linh Ngan, is a first-year student majoring

Internet of things, and Do Van Chung is currently studying Information

Assurance, a freshman student too, collaborated in gathering related literature to

support the topic and organize important key points that is beneficial to make the

manuscript well presented. Literature source such as research publication,

economy and history books, and economy websites are listed on the references.

This manuscript is a partial requirement to the English Preparation Course

– TRS601 and to be presented to the Group 4 of TRS601.25 at last Presentation of

TRS601.25 – FPT University, Hoa Lac, Hanoi, Vietnam.

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 ACKNOWLEDGMENT

First and foremost, praises and thanks to our parents who managed to

shape us into the people that we are today, and showers of blessings throughout

my research work to complete the research successfully.

I would like to express my deep and sincere gratitude to many fun and

skilled teachers in this classroom. And special is my research supervisor, Cecilio

Jr. Requentel Fedelino in particular, for giving me the opportunity to do research

and providing invaluable guidance throughout this research. His dynamism,

vision, sincerity and motivation have deeply inspired me. He has taught me the

methodology to carry out the research and to present the research works as

clearly as possible. It was a great privilege and honor to work and study under his

guidance. I am extremely grateful for what he has offered me.

I would also like to thank our friendships in TRS601.25, empathy, and great

sense of humor for acceptance and patience during the discussion I had with him

on research work and thesis preparation. Particularly our associates I had

previously worked with, and in particular the one who finished this text with us.

We’re happy that we worked together, thank all of you, for doing your hardest

and whatever the outcome is.

Finally, my thanks go to all the people who have supported me to complete

the research work directly or indirectly.

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 CONTENTS PAGE
TITTLE PAGE………………………………………………………………… 1
BACKGROUND………………………………………………………………. 2
ACKNOWLEDGEMENT………………………………………………........ 3
I. KEYWORDS AND IMPORTANT TERMINOLOGIES………………..... 5
II. REASONS FOR CHOOSING 3 COUNTRIES: USA, RUSSIA, CHINA. 6
III. ECONOMY OVERVIEW OF TOP 3 LEADER………………………….. 7
IV. HISTORY DEVELOPMENT OF TOP 3 COUNTRIES…………………. 18
V. CONCLUSION…………………………………………………………......... 21
REFERENCES………………………………………………………………... 22
LIST OF FIGURES……………………………………………………………
Figure 1: Transportation and energy industry………………………... 8
Figure 2: Transportation and energy industry………………………… 9
Figure 3: IPI: America Consumer Goods……………………………….. 10
Figure 4: China's auto factory…………………………………………….. 11
Figure 5: Revenue and expenditure and the state budget………….. 12
Figure 6: China Investment: % of GDP………………………………….. 13
Figure 7: IPI: China Consumer Goods…………………………………… 13
Figure 8: Oil reserves………………………………………………………… 15
Figure 9: Gross fixed capital formation…………………………………. 15
Figure 10: Russia Investment: % of GDP……………………………….. 16
Figure 11: IPI: Russia Consumer Goods………………………………… 17
Figure 12: Past and present……………………………………………….. 18
Figure 13: China's GDP through generations of leaders……………. 19
Figure 14: Russian oil rigs and plants………………………………….. 20

TABLE OF CONTENTS

I. KEYWORDS AND IMPORTANT TERMINOLOGIES

Keyword research is like a compass to determine the direction to approach

the meaning of keywords through the available definitions, identifying keywords is

like finding the right keywords if you have found the key to the treasure. In this

report, there are many important keywords on economic topics and through here

people can easily read this report and understand more about the world's major

economies.

1. Economic blockade: an embargo on trade with a country, esp one which

prohibits receipt of exports from that country, with the intention of disrupting the

country's economy

2. Powerhouse: a country, organization, or person with a lot of influence, power,

or energy

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3. Investment: the act of putting money, effort, time, etc. into something to make a

profit or get an advantage, or the money, effort, time, etc.

4. Private consumption: the consumption of goods by the private sector, which

includes households and private companies

5. YOY: is an index that compares financial results in the same period of time,

widely applied in the field of finance and securities. In English, YOY means Year

Over Year

6. Geopolitical: relating to politics, especially international relations, as influenced

by geographical factors.

7. Implementation: the act of starting to use a plan or system

8. Stagflation: an economic situation in which prices keep rising but economic

activity does not increase

9. Surplus: more than is needed

10. Mechanisms: an important part of the economic campaign

II. REASONS FOR CHOOSING 3 COUNTRIES: USA, RUSSIA, CHINA

The world is witnessing the growth of nations every day and emerging

market economies, especially the three countries that dominate and keep the

world economy stable with three institutions. Sociopolitics that are completely

economic blockade each other are: America, China, and Russia.

United States: The United States is by far the largest and most productive

economy in the world, The U.S. economy maintains its powerhouse status

through a combination of characteristics. The country has access to abundant

natural resources and a sophisticated physical infrastructure. It also has a large,

well-educated and productive workforce. The general population, including a

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diversity of immigrants, brings a solid work ethic, as well as a sense of

entrepreneurship and risk taking to the mix. Economic growth in the United

States is constantly being driven forward by ongoing innovation, research and

development as well as capital investment.

China: China's economy has experienced incredible growth over the past few

decades, making it the world's second-largest economy. Given the government's

solid fiscal position, the stimulus measures have not hurt China's public finances.

In particular, the stimulus program has boosted investment, while household

consumption remains relatively low.

Russia: After the collapse of the Soviet Union, the first decade of the transition

from a centrally planned economy to a market economy was a disaster for Russia.

The continuous upward trend experienced by oil prices in the period from 1999 to

2008 boosted the Russian economy - which is heavily dependent on exports of the

energy sector - Oil and Gas. The economy has stagnated for a while; however, the

key exceptions are the energy and defense sectors.

III. ECONOMIC OVERVIEW OF TOP 3 LEADER

In the current global relationship, economics, literature, politics and culture

are the three main issues that decide to impose on that country's values and voice

in the world. In which the economy is the potential determining power, dominating

other countries. America, China, Russia are three economic powers that can

control other economies in many different ways, the economic power of these

countries is shown in many different aspects.

United States:

Economic Growth and transformation: According to the Investopedia, so far, the

U.S is still the firstly power in the world economy, despite facing past crises, the

growth rate is still an insurmountable number for other countries. Despite facing

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challenges at the domestic level along with a rapidly transforming global

landscape, the U.S. economy is still the largest and most important in the world.

The U.S. economy represents about 20% of total global output, and is still larger

than that of China. Moreover, according to the IMF, the U.S. has the sixth highest

per capita GDP (PPP). The U.S. economy features a highly-developed and

technologically-advanced services sector, which accounts for about 80% of its

output. The U.S. economy is dominated by services-oriented companies in areas

such as technology, financial services, healthcare and retail. Large U.S.

corporations also play a major role on the global stage, with more than a fifth of

companies on the Fortune Global 500 coming from the United States.

Business fields: According to the FocusEconomics, The United States is the

country with the strongest industrial development, the largest import and export

of goods in the world. The U.S. is the second largest manufacturer in the world

and a leader in higher-value industries such as automobiles, aerospace,

machinery, telecommunications and chemicals. Meanwhile, agriculture represents

less than 2% of output. However, large amounts of arable land, advanced farming

technology and generous government subsidies make the U.S. a net exporter of

food and the largest agricultural exporting country in the world.

The United States is the world’s leading exporter of services. This includes

financial and professional business services as well as other knowledge-intensive

services. Travel, transportation and tourism services are also a major export.

Services represent about one third of total exports.

Goods imported into the United States account for more than 80% of total

imports. Roughly 15% of these imports are in the form crude oil, fuel oil and

petroleum products. Industrial machinery, supplies and equipment represent

another 15% of imported goods. Almost 25% of imported goods are capital goods,

such as computers, computer accessories, electronics, medical equipment, and

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telecommunications equipment. Consumer goods represent another 25% of

imported goods. Cellphones, pharmaceuticals, toys, household equipment,

textiles, apparel, televisions, and footwear are the main types of consumer goods

imported to the United States. An additional 15% of imported goods are

automotive vehicles, parts, and engines. Food and beverages represent only about

5% of imported goods.

Figure 1: Transportation and energy industry. (Source: TraderViet.com)

The United States is one of the largest and most influential financial markets

globally. With wealth and developed infrastructure, the economic categories of the

United States are always at the top.

State budget: According to the TradingEconomics, Gross Fixed Capital Formation

in the United States averaged 2481.96 USD Billion from 1995 until 2021. United

States Gross Fixed Capital Formation was reported at 1,222.343 USD bn in Jun

2021. This records an increase from the previous number of 1,203.268 USD bn for

Mar 2021. US Gross Fixed Capital Formation data is updated quarterly, averaging

230.130 USD bn from Mar

1947 to Jun 2021, with 298

observations. The data reached

an all-time high of 1,222.343

USD bn in Jun 2021 and a

record low of 10.076 USD bn in Mar 1947.

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 Figure 2: Transportation and energy industry. (Source: CEIC Data.com)

Investment: The U.S. direct investment abroad position, or cumulative level of

investment, increased by billions of dollars, according to statistics released by the

Bureau of Economic Analysis (BEA). By industry, holding company affiliates

owned by U.S. manufacturers had the largest increase. United States Investment

accounted for 20.8 % of its Nominal GDP in Jun 2021, compared with a ratio of

21.4 % in the previous quarter. US investment share of Nominal GDP data is

updated quarterly, available from Mar 1947 to Jun 2021, with an average ratio of

22.4 %. The data reached an all-time high of 25.4 % in Dec 1978 and a record low

of 16.1 % in Jun 1947. CEIC calculates Investment as % of Nominal GDP from

quarterly Nominal Gross Capital Formation and quarterly Nominal GDP. The

Bureau of Economic Analysis provides Nominal Gross Capital Formation in USD

and Nominal GDP in USD. Seasonally adjusted auxiliary series is used since non-

seasonally adjusted data is unavailable from the source. In the latest reports, US

GDP expanded 0.4 % YoY in Mar 2021. US Nominal GDP reached 5,373.7 USD bn

in Dec 2020. Its GDP deflator (implicit price deflator) increased 1.9 % in Mar 2021.

US GDP Per Capita reached 59,484.0 USD in Dec 2017. Its Gross Savings Rate

was measured at 19.0 % in Dec 2020.

Price index: According to the Ceicdata, the petrodollar system elevated the U.S.

dollar to the world's reserve currency and, through this status, the United States

enjoys persistent trade deficits and is a global economic hegemony. The

petrodollar system also provides U.S. financial markets with a source of liquidity

and foreign

capital inflows

through

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petrodollar "recycling." United States IPI: Consumer Goods (CG) data was reported

at 103.065 2012=100 in Apr 2021. This records a decrease from the previous

number of 107.017 2012=100 for Mar 2021. United States IPI: Consumer Goods

(CG) data is updated monthly, averaging 67.187 2012=100 from Jan 1939 to Apr

2021, with 988 observations.

Figure 3: IPI: America Consumer Goods. (Source: CEIC Data.com)

China:

Economic Growth and transformation: Economic growth is expected to

accelerate sharply in 2021, Focus Economics panelists expect GDP to expand

7.9% in 2021. Next year, private consumption should be the main growth driver

as it recovers from the coronavirus-induced slump and the impact of social

distancing measures. Despite the new Democrat-led administration in the U.S,

uncertainty over the China-U.S. relationship will likely persist and affect

investment decisions. In 2022, the panel foresees GDP expanding 5.2%. In 1978—

when China started the program of economic reforms—the country ranked ninth

in nominal gross domestic product (GDP) with USD 214 billion; 35 years later it

jumped up to second place with a nominal GDP of USD 9.2 trillion.

Business fields: According to data from the National Bureau of Statistics of China

(NBS), in 2020, the pandemic has caused China's industrial production growth to

drop to its lowest level in many years when it increased by only 2.8%, with post-

pandemic recovery China Industrial production rose 8.3 % YoY in Jun 2021.

China Industrial production index growth rate YoY data is updated monthly,

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available from Jan 1995 to Jun 2021, with an average rate of 11.2 %. The data

reached an all-time high of 23.2 % in Feb 2004 and a record low of -1.1 % in Mar

2020. The National Bureau of Statistics provides monthly Industrial Production

Index Growth. Industrial Production Index Growth reflects the annual increase of

total value added by all industrial sectors in current prices, indicating value

changes. Data on Electrical Machinery and Equipment was reported at RMB

5,142,641,626 million in 2011. This is an increase from the previous figure of

RMB 4,334,441,000 million in 2010. Machinery and Equipment data China's

equipment is updated annually, averaging RMB 382,506,500 million from

December 1986 to 2011. In the first six months of 2021, China's industrial

production grew by 15.9% year-on-year. This growth was mainly due to a decline

in China's industrial production in the same period last year due to the COVID-19

pandemic. In which, the industries that recorded high growth momentum include:

new energy cars by 205%, industrial robots by 69.8%, metal cutting machines by

45.6%, computers, electronic products and components increased 43.9%...

--

Figure 4: China's auto factory. (Source: Express Magazine.net)

State budget: According to the National Bureau of Statistics of China, Gross Fixed

Capital Formation in China increased to 435682.60 CNY HML in 2020 from

422018.80 CNY HML in 2019. China Gross Fixed Capital Formation was reported

at 6,314.324 USD bn in Dec 2020. This records an increase from the previous

number of 6,116.248 USD bn for Dec 2019. China Gross Fixed Capital Formation

data is updated yearly, averaging 102.865 USD bn from Dec 1957 to 2020, with
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64 observations. The data reached an all-time high of 6,314.324 USD bn in 2020

and a record low of 7.308 USD bn in 1962. China Gross Fixed Capital Formation

data remains active status in CEIC and is reported by CEIC Data.

Figure 5: Revenue and expenditure and the state budget. (Source: CEIC Data.com)

Investment: According to the CeicData, China Investment accounted for 43.1 % of

its Nominal GDP in Dec 2020, compared with a ratio of 43.1 % in the previous

year. China investment share of Nominal GDP data is updated yearly, with an

average ratio of 35.7 %. The data reached an all-time high of 47.0 % in Dec 2011

and a record low of 15.5 % in Dec 1962. CEIC calculates Investment as % of

Nominal GDP from annual Nominal Gross Capital Formation and annual Nominal

GDP. The National Bureau of Statistics provides Nominal Gross Capital Formation

in local currency and Nominal GDP in local currency. In the latest reports, China

GDP expanded 18.3 % YoY in Mar 2021. China Nominal GDP reached 3,847.7

USD billion in Mar 2021. Its GDP deflator (implicit price deflator) increased 2.4 %

in Mar 2021.

Figure 6: China Investment: % of GDP. (Source: CEIC Data.com)

Price index: According to NBS data, China's Consumer Price Index (CPI) rose

1.3% in May 2021, higher than the 0.9% increase in April but less than the 1.6%

forecast in April survey conducted by Reuters. China Consumer Price Index (CPI)

growth was measured at 1.1 % YoY in Jun 2021, compared with a rate of 1.3 % in

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the previous month. China Consumer Price Index growth data is updated monthly,

available from Jan 1985 to Jun 2021, with an averaged number of 2.7 % YoY. The

data reached an all-time high of 28.4 % YoY in Feb 1989 and a record low of -2.2

% YoY in May 1999. CEIC calculates Consumer Price Index Growth from monthly

Consumer Price Index. The National Bureau of Statistics provide Consumer Price

Index with base Previous Year=100. [COVID-19-IMPACT]. In the latest reports,

China Producer Price Index grew by 8.8 % YoY in the month of Jun 2021.

Figure 7: IPI: China Consumer Goods. (Source: CEIC Data.com)

Russia:

Economic Growth and transformation: The International Monetary Fund (IMF)

assessed that the Russian economy is recovering more sustainably and

successfully than Europe, and raised FocusEconomics panelists project GDP to

rebound and grow 3.1% in 2021, which is down 0.2 percentage points from last

month’s forecast. GDP are set to contract at the sharpest pace in over a decade

this year, as exports, investment activity and consumer demand all plunge due to

Covid-19. Next year, the economy should rebound as the pandemic is expected to

subside, with fiscal and monetary stimulus further supporting the recovery.

Geopolitical risks and the uncertainty over the pandemic cloud the outlook,

however.

Business fields: According to AFP news agency, the arms industry and oil

industry was one of the industries that was not affected when the pandemic hit

Russia, helping the country maintain its position as a major supplier of weapons

to many countries around the world. Crude oil, petroleum products and natural
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gas comprises 58% of total exports, iron and steel represent 4% and other mining

sectors related exports including gems and precious account for about 2.5%. Sales

to Europe represents over 60% of total exports while Asia has an export share of

roughly 30%. Russian exports to the United States, Africa and Latin America

combined represent less than 5% of total shipments. The fall in the trade surplus

continues to reflect the free fall that Russian exports have registered over the last

few years. Following a period of heightened volatility, oil prices have recently

stabilized especially since the extraordinary meeting of the OPEC Conference in

Algiers in the last week of September, which concluded with a commitment to

freeze oil production at between 32.5 and 33.0 million barrels a day.

The arms industry was one of the industries that was not affected when the

pandemic hit Russia, helping the country maintain its position as a major supplier

of weapons to many countries around the world. The total value of orders last year

remained at 50-55 billion USD. The arms trade is one of the ways for Russia to

promote geopolitical influence from the Middle East to Africa and fear of facing

many difficulties if choosing another source.

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 --

Figure 8: Oil reserves. (Source: CEIC Data.com)

State budget: According Federal State Statistics Service Gross Fixed Capital

Formation in Russia decreased to in the first quarter of 2021 from in the fourth

quarter of 2020. Russia Gross Fixed Capital Formation was reported at 52.583

USD bn in Mar 2021. This records a decrease from the previous number of

119.125 USD bn for Dec 2020. Russia Gross Fixed Capital Formation data is

updated quarterly, averaging 45.654 USD bn from Mar 1993 to Mar 2021, with

113 observations. The data reached an all-time high of 184.829 USD bn in Dec

2013 and a record low of 3.905 USD bn in Mar 1993. Russia Gross Fixed Capital

Formation data remains active status in CEIC and is reported by CEIC Data.

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 Figure 9: Gross fixed capital formation. (Source: CEIC Data.com)

Investment: According to the CeicData, Russia Investment accounted for 16.4 %

of its Nominal GDP in Mar 2021, compared with a ratio of 28.7 % in the previous

quarter. Russia investment share of Nominal GDP data is updated quarterly, with

an average ratio of 22.6 %. The data reached an all-time high of 31.4 % in Sep

1995 and a record low of -2.0 % in Dec 1998. CEIC calculates Investment as % of

Nominal GDP from quarterly Nominal Gross Capital Formation and quarterly

Nominal GDP. Federal State Statistics Service provides Nominal Gross Capital

Formation in local currency and Nominal GDP in local currency, based on SNA

2008. Investment as % of Nominal GDP prior to Q1 2011 is based on SNA 1993. In

the latest reports, Russia GDP contracted 2.8 % YoY in Dec 2020. Russia Nominal

GDP reached 406.3 USD bn in Dec 2020. Its GDP deflator (implicit price deflator)

increased 5.5 % in Dec 2020. Russia GDP Per Capita reached 10,126.7 USD in

Dec 2020.

Figure 10: Russia Investment: % of GDP. (Source: CEIC Data.com)

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Price index: According to the CeicData, Russia's Consumer Price Index (CPI)

growth was measured at 6.5 % YoY in Jul 2021, compared with a rate of 6.5 % in

the previous

month. Russia's

Consumer

Price Index

growth data is

updated monthly,

with an averaged number of 11.3 % YoY. Russia’s Monetary Policy the Central

Bank of Russia (Bank Rossi), founded in 1990, has several responsibilities in

compliance with the Russian Constitution and Russian Federal Law: maintaining

the value and stability of the ruble, overseeing Russian financial institutions

(including acting as a lender of last resort), managing Russia’s foreign reserves

and foreign exchange, and setting short-term interest rates, which is one of the

main instruments of the bank’s monetary policy implementation Russia

Consumer Price Index (CPI) growth was measured at 6.5 % YoY in Jun 2021,

compared with a rate of 6.0 % in the previous month. Russia Consumer Price

Index growth data is updated monthly, available from Jan 1993 to Jun 2021, with

an averaged number of 11.4 % YoY.

Figure 11: IPI: Russia Consumer Goods. (Source: CEIC Data.com)

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 IV: HISTORY DEVELOPMENT OF TOP 3 COUNTRIES
Most of the major economies in the world such as the US, China, Russia

have a long history of economic development including landmark inventions of

mankind. They are the countries that soon emerged and traded across the

mainland.

United States: The end of World War II marked the beginning of a golden era for

the US economy. This period was marked by an increase in economic activity and

productivity, a growing and prosperous middle class, and the rise of the baby

boomer generation. From the late 1940s to the early 1970s, U.S. GDP grew at an

average annual rate of nearly 4%. In the 1970s, a structural change in the

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 economy moving from industry and manufacturing to services took effect. The

1970s were marked by a period of stagnant growth and inflation known as

"stagflation".

- Increasing global integration and the rise of new technology, including the

adoption of productivity-enhancing IT in the workplace and the rise of high-tech

companies, have helped fuel the boom. economic boom in the 1990s. The period

from 1993 to 2001 marked the longest sustained expansion in U.S. economic

history, and spurred dramatic increases in employment, income, and demand.

Moreover, the strong growth rate and low unemployment rate during this period

are particularly remarkable because the government budget was regulated

simultaneously and actually achieved a surplus in the 4 years from 1998 to 2001.

Fiscal improvement was made possible in part by the tax increases introduced by

President Bill. The stock market has been boosted by the rise of internet-based

companies in what is known as the "dot-com bubble", which generates huge

amounts of unexpected revenue for the government on capital gains taxes and

salary increase.

Figure 12: Past and present. (Source: US History Blog)

China: After Mao Zedong's death in 1976, Deng Xiaoping - who was at the core of

China's second generation of leaders - became China's supreme leader and

pushed for bold reforms to reshaping the country's economy. At the Third Plenary

Meeting of the Central Committee of the Communist Party of China, held in

December 1978, Deng announced the official launch of the Four Modern Ways -

agriculture, defense, industry and science and technology - marking the beginning

of reform and opening up. -Advanced policy. Economic reforms under Deng

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increased the role of the market mechanism and reduced government control over

the economy. Furthermore, China began to participate in the global economy and

it joined the International Monetary Fund (IMF) and the World Bank in 1980. The

fifth generation came to power in 2012, when President Xi Jinping and Premier Li

Keqiang took control of the country. The new administration of President Xi

Jinping has announced an ambitious reform program in an effort to transform the

country's economic foundation and ensure a sustainable growth model. In this

regard, the authorities expressed their willingness to accept lower growth rates as

a necessary condition for promoting economic reform. Mr. Xi coined the term

"Chinese Dream" as his contribution to the guiding ideology of the Chinese

Communist Party. Although vague, the "Chinese dream" emphasizes the

happiness of the people and the idea of a strong China.

Figure 13: China's GDP through generations of leaders. (Source: VietnamBiz.vn)

Russia: For about 69 years, the economy of Russia and the rest of the Soviet

Union operated on the basis of a centrally planned economy, with state control

over virtually all means of production and investment, production, and

consumption decisions throughout the economy. Economic policy is carried out at

the behest of the Communist Party, which controls all aspects of economic

activity. Since the fall of communism in the early 1990s, Russia has struggled to

transition from a centrally planned economy to a market economy. The five-year

plan and the annual plan were the main mechanisms used by the Soviet

government to translate economic policies into programs.

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Under President Vladimir Putin, the Russian economy saw its nominal Gross

Domestic Product (GDP) double, from 22nd to 11th place in the world. During

Putin's eight years in power, industry grew by 75%, investment increased by

125%, and so did agricultural production and construction. Real income more

than doubled and median salary increased eightfold from $80 to $640. At the

beginning of 2009, the Ministry of Economy, Trade and Development announced

an ambitious plan outlining Russia’s economic goal up to 2020. With this plan,

Russia will become the largest economy in the country. Europe and the fifth

largest in the world after the United States, China, Japan and India.

Figure 14: Russian oil rigs and plants. (Source: laodong.vn)

V. CONCLUSION

As the 3 major countries in the world, the United States, Russia and China are

considered to be the countries that play a key role in the stability and development

of the world. The strong and high-level relationship between them is not only for

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the benefit of each country, but also an important guarantee in maintaining the

international strategic balance. Over the past 100 years, the United States has

become the largest economy in the world, followed by China and the country with

great military potential is Russia. And these achievements need to overcome

challenges such as increasing globalization, changing climate, changing

demographics and epidemics. But we can still achieve the future we want if we

nurture and use the talents of capable people. Economic mobility must become a

reality, which is why countries start with the realization that to achieve their

economic potential, it must activate millions of growth engines in the economy.

Simply put, for these three countries to stay at the forefront of innovation in the

21st century – as they did in the 20th – it must be ensured that all citizens are

skilled and educated, active in a favorable environment. The economic

environment is conducive to their success and that allows them to compete at

home and abroad. The most recent is the Covid - 19 pandemic, this is like a global

crisis, it has paralyzed all activities. Facing that situation, this is the time to show

the position of the giants in the world when the economies of the US, China, and

Russia have recovered their positive growth. These will be three strong economies

and will be the "brake" to stabilize the world economy in the coming time.

REFERENCES

1. Focus_Economics. On October 27, 2020. Economic Data by Region and

Country: United States Economic growth.

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2. Focus_Economics. On October 27, 2020. Economic Data by Region and

Country: United States Economic History.

3. Focus_Economics. On November 17, 2020. Economic Data by Region and

Country: China Economic growth.

4. Focus_Economics. On November 17, 2020. Economic Data by Region and

Country: China Economic History.

5. Focus_Economics. On November 3, 2020. Economic Data by Region and

Country: Russia Economic growth.

6. Focus_Economics. On November 3, 2020. Economic Data by Region and

Country: Russia Economic History

7. Global Economic. China: Data, Indicators, Charts & Forecasts

https://www.ceicdata.com/en

8. Global Economic. United States: Data, Indicators, Charts & Forecasts

https://www.ceicdata.com/en

9. Global Economic. Russia: Data, Indicators, Charts & Forecasts

https://www.ceicdata.com/en

10. Robert F. Kennedy. On August 12, 2012. Conclusion: Progressive Growth

Conclusion

https://cdn.americanprogress.org/wpcontent/uploads/2013/06/Progressiv

eGrowthCONCLUSION.pdf

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