Essay on Economic Superpowers

Submitted By DragonsFTW
Words: 576
Pages: 3
Open Document
Using Figure 3 and your own knowledge, explain why the pattern of economic power has changed over time (10)

Figure 3 shows the changes of global economic power over time. There are many reasons for the shifts in economic power such as the Second World War and the collapse of the British Empire.

In 1913, Britain had a GDP almost twice the size of The USA's and made up 37% of the world's economy. By 1950, Britain's economic influence had decreased, its GDP now making up only 7% of the global economy. During this period The USA had become the world's largest economic power, making up 27% of the world's economy compared to the 19% in 1913. The First and Second World Wars that occurred during the British Imperial Era may explain the decline of Britain as an economic power by 1950. During these wars, Britain had to invest heavily in munitions and equipment, borrowing heavily from the US to help fund its expenditure. With Britain indebted to America, and struggling to maintain an empire after the economic impact of the Second World War, it is unsurprising to see a decline in Britain's economic strength, with an increase in American economic influence. During the Cold War era, the USA's economic position may have been strengthened due to its increasing political influence as one of the world's leading powers alongside The USSR, which had a GDP that made up 10% of the world's economy in 1950. The competition between these two dominant powers served as motivation for them to increase and solidify their super power status through militaristic, scientific, political and economic means.

By 1998 The USA remained the world's leading economic power with Japan having the second largest economy, constituting 13% of the world's GDP. It can also be seen that The USSR had lost its position in the top 4 due to the collapse of communism – negatively impacting on Russia's economy as it was no longer bolstered by its buffer states in Eastern Europe that contributed to Soviet industry. With the end of the Cold War, western countries may have benefited economically, perhaps accounting for Japan's rise as an economic power. Also it can be noted that Germany, which was the 4th most economically powerful country in 1913 and 1950, remains an
Show More

Related Documents: Essay on Economic Superpowers

Eu As A Superpower Nation

Dictionary.com, a superpower is defined as “an extremely powerful nation, especially one capable of influencing international events and the acts and policies of less powerful nations.” The Industrial revolution was time in which the word superpower was created. Superpower nations are nations with a strong economy, education system, technological advances, and methods of defense. The EU is built on the strong foundation of multiple nations that have propelled the EU to the superpower it is today.…

Words 597 - Pages 3

Superpower Geographies Essay

(4) Superpower Geographies 4.1 Superpower Geographies 4.1.1 What is a superpower? Superpowers are countries with disproportionate power and influence so that they have more than the rest of the world and thus are the biggest decision makers. Superpowers are usually large countries in terms of population and physical extent. Physical size may provide a natural resource base that the superpower can thus exploit and draw on to develop their power and influence further. These countries have global influence…

Words 4661 - Pages 19

Superpower Power In China

A superpower is a country that has a dominant position in international relations. Superpowers share several characteristics, of which the main two are a powerful economy and military dominance. With the fall of the British Empire after the Second World War and Berlin Wall in 1989, the world today has only one clear superpower, the United States. Over the last 40 years, China’s economy has taken giant strides. After decades of self-imposed quasi-isolation, it became the second largest economy in…

Words 2004 - Pages 9

English and Japenese Essay

by the late 19th century its reach was global. Following British colonization from the 16th to 19th centuries, it became the dominant language in the United States, Canada, Australia and New Zealand. The growing economic and cultural influence of the US and its status as a global superpower since World War II have significantly accelerated the spread of the language across the planet. English replaced German as the dominant language of science-related Nobel Prize laureates during the second half of…

Words 2025 - Pages 9

Rise of China and India Essay

It is globalization that has caused these two countries to grow and evolve so rapidly. Globalization is defined by business dictionary.com as: “the worldwide movement towards economic growth, financial, trade and communications integration”. Globalization has helped china dramatically because globalisation stimulates an export-driven high GDP by exploiting China’s comparative advantage in cheap labour, even though this isn’t necessary…

Words 2251 - Pages 10

China The Next Global Superpower

overtake the United States as the next global superpower. One reason from all, starting with China being a threat, is that China’s sphere of influence has grown tremendously. The fact that China is on a level far below the current global superpower, the United States, is the reason some do not view China as a threat. When it comes to being a developed country, China lacks, which is why people think China has no chance at all at becoming the next global superpower. China with its sphere of influence, thirstiness…

Words 1124 - Pages 5

The Great Powers in the International System Essay

insurrectionary Polarity/ Superpower/ Great Power What is meant by multipolarity, bipolarity and unipolarity? • A unipolar system is where one “pole” or polar actor is identified as the predominant power in the world. It need not be a state but a group of states. An example of a unipolar power is the Holy Roman Empire. • In a bipolar system two powers control the majority of global power. This was said to be the case in the global war where power surrounded two ‘poles’ – the Soviet Union and…

Words 376 - Pages 2

was Detente superficial essay

This shows the two superpowers on ultimately opposite sites, even if it was not evident in their own conflict it can be seen in who they supported. Therefore, détente was never going to be a groundbreaking peace treaty that would bring significant change to the cold war, it was only ever going to be a temporary solution. The idea of deception can further be seen in the contrast between what Nixon believed and what was going on. Nixon thought that détente allowed superpower relations to get better…

Words 1214 - Pages 5

Why Did America Become A Superpower Essay

how and why America has become the superpower it is today. Due to the economic boom, the nation’s military growth, and the collapse of other countries after the war, America emerged from the smoke of World War I as a world power, and other countries saw the nation as a force not to be reckoned with. Additionally, other countries saw an immediate change in the war after America stepped in to help the Allies. Moreover, this led America into being a superpower. First of all, America emerged…

Words 527 - Pages 3

World War 2 Test: Analyze the Results of the Second World War Essay

against humanity. Similarly, some of Japan's war leaders were tried for war crimes and were executed. The end of World War Two resulted in economic and physical devastation but also created a push for political balance and the creation of a new peace organization. WWII ultimately led to a seed of new conflicts. The impact of the war led to a huge physical and economic destruction, greater than the aftermath which resulted from WW1. No war, until then, had ever caused so many deaths: an estimate of 40…

Words 1025 - Pages 5