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Future of the US Economy 1. Positives and negatives 2. Major trends in the US economy 3. Inequality in the USA 4. US colleges 5. Ascription vs. Achievement 6. TTIP 7. End Positives of the US economy 1. 2. 3. 4. 5. 6. Resilience, flexibility and entrepreneurship Good business-friendly environment Energy and other resources Strong innovation potential Attractive for top-class labor force Globalized economy Economic issues in the US 1. 2. 3. 4. 5. 6. Unemployment Jobs lost to outsourcing and not replaced Downfall of traditional industries (cars,…) Government deficits Negative balance of trade Rising power of lobby groups Major trends 1. 2. 3. 4. 5. 6. 7. 8. Oil producer No. 1 by 2020 Energy self-sufficient by 2030 US to become world’s No. 2 in 2017 More part-time workers Delays in retirement age Development of high-tech Changes in US demographics Growing gap in incomes Inequality in the USA US Colleges Ascription vs. achievement TTIP • 30% of Global Trade • 50% of Global GDP • Balancing China • 2 years of preparations • Expected conclusion 2014/2015 • EU €120 mld. (0.5% GDP) • USA €95 mld. (0.4% GDP) • Increase in income 545 EUR/year/family TTIP Tariffs: • 5,2% of EU imports • 3,5% of US imports • Exceptions: textile, apparel, shoe wear – 40%, 32%, 56% Regulation: • Automotive – same products, differing standards • Pharma – double production checks • Chemical – considerable differences in legislation TTIP EU export increases: • Vehicles: +41% • Metals: +12% • Chemicals: +9% • Food: +9% Thank you for your attention