Economic and Political Systems

Introduction

In this paper, we will discuss the Economic and Political Systems of USA, China and India and their effects on Economic performance. We will also assess the economic performance of these countries. It will help us assess the importance of various Political systems and their importance.

United States

Political System

United States of America is a federal state in which the party federations are united. In this country, the force as the supreme act Constitution of 1787 year, is a written constitution which is the oldest one in the world. It introduces the classic tripartite division of authority, which however has the broadest powers of the president (although individual institutions of the power to block and restrict each other, which has prevented all attempts to seize power by a single body). The president is elected by popular vote (the voter chooses the composition of the Electoral College - in most states' winner-takes itall ", that is all the electors are candidates declared the winner in a given state, the electors are not bound to the candidate who appointed them - there were cases of vote for another candidate). The president makes the government (called the administration's office ), and exercise general control over public policy. Therefore, the U.S. political system is defined as presidentialism. Parliament, the U.S. (Congress) is composed of two chambers: the lower House of Representatives and the higher house known as the Senate, with members from the overwhelming majority of members of only two political parties - the Democratic Party and the Republican Party . They are chosen by universal suffrage, as representatives of (respectively) single-member constituencies (the majority of the electoral law) and the states. The research activities of government compliance with the principles of the Constitution deals with the Supreme Court (Haggard & Stephan, pp. 55-75).

A strong democratic form of government has helped America to emerge as the largest and the strongest economies of the world. Since, the political system is very stable, and all the governments complete their tenure of five years, the economy show stable performance.

Economic System and Performance

The United States is the largest economy in the world: The U.S. share of purchasing power-adjusted gross domestic product (GDP) of the entire world in 2010 was estimated at about 20 percent in 2011 and about 19 percent in 2010.

The nominal U.S. GDP will amounted to around 15 trillion dollars in 2011 according to International Monetary Fund (IMF). The nominal GDP of the economy following China is projected to reach 7 trillion dollars in 2011, about half of U.S. economic output (gross domestic product in China).

Due to the financial and economic crisis the U.S. economy shrank by 3.5 percent in 2009. This was the worst recession in the United States in recent decades. The public debt of the economy was around 90% of the GDP. Before the crisis, in 2007, the national debt had stood at 62 percent. Before the crisis, the economy was performing pretty well. The unemployment in the ...