Based on the ranking of the United States, do you believe this has an impact on the global standing of the United States as a leader in international markets?
PISA measures countries by determining how they are adept in learning and how articulate they are at processing information and ensuring that they get practical solutions from various data. The literacy skills as a result have been shown to be quite important in determining the progress of economies and their resultant wellbeing socially as compared to the time people spend in school. The United States has not performed as expected (Gouwens, 2009). It has been the epitome of brilliance and education and especially in research and finding of new solutions to help the progress of the economy and the country as a whole. Other countries have competed with the United States and performed better in various subjects like reading, math and science. Education is closely linked to the economic performance according to PISA. The United States is still ahead in terms of dominating international markets though it has faced stiff competition from the Chinese who have shown their excellence in literacy by defeating the United States on the subjects examined by PISA. Most of the countries are either using a US based education system or UK based education system. The best performing countries come from Europe and the Far East Asian countries, which have culture of working hard. A country’s culture plays a role in how the country performs overall.
Pisa evaluated students in different countries concerning their proficiency in learning especially in areas dealing with reading, science and math. The organization for economic cooperation and development (OECD) is an organization that administers the exams after a period of 3 years. The United States was mostly defeated by four or five countries while it tallied with other countries and defeated 23 countries in the OECD. The US has dominated international markets for long but the various results from the PISA 20009 point a different picture. The various countries that have defeated the United States like china, Switzerland, Finland, japan, Hong Kong (China), Netherlands, United Kingdom and Germany are doing well economically. Though they have better reading and literacy, skills they are still not as dominant as the United States in the international market. As a result, it takes more than education to become an economic giant globally. The United States has various factors that involve its political environment that champions for ample economic systems which puts it is ahead of many countries. Therefore, education alone cannot change the position of the United States in the global markets.
Other than the top three countries in this exhibit, which two countries do you think The United States needs to be concerned about in the next decade? Explain.
The United States should be concerned about china and Canada. Canada is a country that has a strong economy, which has gradually implemented various measures that have enabled it, battle and remain afloat even during the recession that has affected the United States. Canada put forth several measures that ensured the lessening of its debts like spending cuts in most sectors of the economy. Canada cut a lot of spending on wages of the civil service and money for social programs. It took the measures over a longer period from the 1990s and is reaping the fruits of the various measures that were undertaken by the government though they were unfavorable to its citizens. Canada therefore managed its economic system over time and ensured that dependence on debts was greatly reduced. The banks followed suit and have remained conservative. They do not give subprime loans or buy mortgages, which have contributed greatly to the recession in the United States economy.
Japan is another economy that is showing its strength though it has faced major disasters that destroyed a substantial part of its economy. The gross domestic product of japan was closely doubling that of the United States in the beginning of the year. Though the country’s economy had greatly been affected by the tsunami and earthquake they it recovered speedily. Government expenditures have contributed to the rise in GDP. Though there was a slow growth in both china and US, the Japanese economy continued to grow because of a strong demand domestically. The annualized GDP of the United States was 4.1% compared to that of the United States, which was 2.2 %. Various policies have been initiated by the Japanese premier that have initiated the economic growth to grow quicker than that of other economies like the European countries and the United States that are struggling with the recession (Samuelson & Nordhaus, 2010). The stock markets have improved greatly and so have the companies deal in automobiles and electronics like Sony, Samsung and Toyota. Japan has combined financial and government measures, which have boosted its economic growth greatly above other, developed countries. Such measures have been referred to as abenomics. Japan has used contrary measures to those of the developing like increasing expenditure and thus enabling its people to have more money and further employment while the other countries have been using cutbacks and preventing expenditures to fight the recession. Therefore, the increasing economic growth in japan because of various reforms puts it at a better position to compete with the United States and in the end; it may surpass the United States as the best performing economy.