In 1872 the United States would overtake Great Britain as the world's # 1 economy. Ulysses S. Grant was president. The U.S. would hold that title staunchly for the next 140 some odd years. But now the international consensus is that China either currently is, or inevitably will be in the very near future, the world's largest economy.
Back in 1970, the United States accounted for 21.2% of the global economic output, this would last until the year 2000. Since then that number has been on a pretty steady annual decline. It is currently around 16.7% and it is estimated to be as low as 14.9% by 2025. Meanwhile in China, global output for the year 1970 was a paltry 4.1%. With a show of sheer economic grit and might, that number is up to 15.6% and rising.
China would enact economic and social reforms that would help elevate 800 million of its population out of poverty. Though still technically a communist government, laws and policies were put into place to open China up to the market. This allows China to be a player on the global stage.
For the longest time, the United States maintained the world's #1 economy with the #3 population. The U.S. since its innovations of the Industrial Age has had a production rate like no other. China's staggering 1.36 billion person strong population is starting to catch up on the productivity rate. While there's still a long way to go, as long as productivity continues to increase, the sheer size of China's population seats it at #1. Then there is China's booming auto industry, which is crushing it with it's low production costs and beginning to pose a serious competition with U.S. automakers, unless stiff tariffs are imposed. In the wake of President Trump's recent meeting with the Chinese President, we've seen new trade arrangements made to try and keep the U.S. on par with Chinese economic growth.
This isn't necessarily a bad thing for American's. Since the 90's we've benefitted from all those inexpensive goods that read "Made in China". It benefits a the total global economy. On a global scale poverty is decreased by nations such as China and India emerging as super powers with their productivity matching up with their populations.
Then there are the wonders of if the stats are even real. Some skeptics have studies that show that the numbers coming from China may not be as robust as implied. Even the current IMF standing only has China as #1 for PPP - purchase power parity. The U.S. still leads in GDP and that could go on unchanged for still quite some time. However China's growth has been unprecedented and something to applaud, and it inevitably raises it's stock on the global market.
Airbnb offers an affordable option for people looking to be more comfortable as they travel.
However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.
And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.
The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.
Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.
Stick To a Specific Strategy or Niche
Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.
First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.
Be Vigilant About Viable Financing Options
While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.
Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.
Master the Art of Finding Good Deals
There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.