US experience in the field of economic security

Revaz Javakhishvili

Journal number 4 ∘ Revaz Javakhishvili ∘
US experience in the field of economic security

10.36172/EKONOMISTI.2023.XIX.04.Revaz.Javakhishvili

Expanded Summary

Ensuring economic security was given great attention at all stages of political and socio-economic development of the USA. At the same time, according to individual stages, approaches to the national and economic security of the country changed.. During R Reagan's presidency, in this regard, the powerful concept of achieving national security and establishing peace in the world was brought to the fore, which was more based on the country's military strength and the use of the latest innovative technologies to achieve it.

During. the President D Trump administration, the security strategy presented in 2017 focused on four main key areas: 1. Protecting the country and the way of life of the American people; 2. Ensuring the well-being of America; 3. Maintaining peace by forceful means; 4. Expansion of American influence in the world. If the previous administrations analyzed and assessed economic threats independently of each other, separately, the Trump administration approached them in a complex manner, which allowed to reveal a more complete picture of economic threats and achieve a higher level of economic security. With such approaches, it was determined that sometimes trade relations with individual countries were more dangerous than their military capabilities, which is why the US foreign trade policy and its implementation mechanisms were revised. In particular, new customs duties were imposed on many types of products, the geography of their supply was changed, etc.

In the US national security strategy, the country's industrial base - as a "critical element of American strength" - has a special place. According to experts' assessment, the country's high degree of dependence on the import of a number of food materials, rare metals, as well as some technical equipment and technology has been revealed. In addition, a large part of the import supply comes from China /the main trade competitor of the USA/, from which 78% of the total import of rare materials was made recently.

To deal with the challenges facing the country, the national security strategy devoted a lot of space to supporting American manufacturers, expanding own production of rare food materials, increasing the competitiveness of products and, in this regard, reducing the degree of dependence of the country on imports, which should play a decisive role in further strengthening the economic security of the United States.

Today, the USA is the world's most developed economy, which is the main determinant of its economic security. In 2021, the world GDP amounted to 94 trillion US dollars, of which 22.9 trillion (24.4% of the world GDP, or almost a quarter) was created by the United States.

The leading place in the US economy is occupied by industry, which makes up more than 22% of the country's GDP. The country's industrial development is based on a strong energy base. In this regard, the role of the coal industry is very large. The USA is the third largest producer of coal in the world after China and India.

The country is rich in gas and oil deposits. In 2018, the USA took the 2nd place in the world (after Saudi Arabia) for the first time in terms of oil production. The USA ranks first in the world in terms of the total capacity of power plants (more than 800 million kW) and generated electricity, 60% of which comes from thermal power plants, 19% from nuclear power plants, 7% from hydroelectric plants, 6% from renewable energy.

The basis of material production in the USA is the processing industry, the leading branch of which is machine building. In this regard, the manufacturing industries of machine tools, air-missile equipment, electric calculating machines, nuclear power plant equipment, electrical equipment and other products stand out. The fastest growing branch of engineering is the production of radio-electronic equipment and communication equipment. The chemical industry, ferrous and non-ferrous metallurgy is growing rapidly.

Light industry plays an important role in the US economy, the food industry is highly developed: meat, dairy, alcoholic and non-alcoholic beverages, canning and milling.

Agriculture plays an important role in ensuring the country's economic security (first of all, food security). The United States has the most highly developed agriculture in the world, in almost all of its individual branches. The country's land fund is 70 million hectares, 20% of which is arable. The US is located in the temperate and subtropical belt, where all the conditions are there for the production of agricultural crops, from wheat and corn to cotton, soybeans, citrus fruits and sugar cane.

In US agriculture, together with the deepening of technical progress, the strengthening of the specialization of farmers is systematically carried out. It should be noted that 90% of the country's agricultural products are produced by specialized farmers, who receive more than half of their income from the sale of one product.

The US is the largest exporting and importing country in the world. In 2020, its foreign trade turnover amounted to 4.891 trillion US dollars, or 21.4% of the country's GDP. One of the important problems of US foreign trade is the high trade deficit, which amounted to 659 billion USD in 2020. In addition, it is characterized by a growing trend. In the interests of ensuring the country's economic security, the US should take care of reducing the trade deficit, which should be achieved on the basis of perfecting the export-import commodity structure, raising the country's export potential and further diversification of exports.

In conclusion, it can be noted that today the USA is the most highly developed post-industrial country, successfully transitioning to the era of "super-technologies". Its economy is characterized by complex development of all modern fields and high growth rates, use of the latest techniques and technologies, high level of education and population employment.

The country's economic and political strength is based on high-level education and science, energy, environmental and military-industrial complexes. All this creates appropriate conditions for the creation of a high level of US national and economic security, the maintenance and further development of which is the subject of constant concern of the American state and society.

EKONOMISTI The international scientific and analytical, reviewed, printing and electronic journal of Paata Gugushvili Institute of Economics of Ivane Javakhishvili Tbilisi State University

DOI: 10.36172/EKONOMISTI E ISSN 2346-8432 Print ISSN 1987-6890	Journal number 4 ∘ Revaz Javakhishvili ∘ US experience in the field of economic security 10.36172/EKONOMISTI.2023.XIX.04.Revaz.Javakhishvili Expanded Summary Ensuring economic security was given great attention at all stages of political and socio-economic development of the USA. At the same time, according to individual stages, approaches to the national and economic security of the country changed.. During R Reagan's presidency, in this regard, the powerful concept of achieving national security and establishing peace in the world was brought to the fore, which was more based on the country's military strength and the use of the latest innovative technologies to achieve it. During. the President D Trump administration, the security strategy presented in 2017 focused on four main key areas: 1. Protecting the country and the way of life of the American people; 2. Ensuring the well-being of America; 3. Maintaining peace by forceful means; 4. Expansion of American influence in the world. If the previous administrations analyzed and assessed economic threats independently of each other, separately, the Trump administration approached them in a complex manner, which allowed to reveal a more complete picture of economic threats and achieve a higher level of economic security. With such approaches, it was determined that sometimes trade relations with individual countries were more dangerous than their military capabilities, which is why the US foreign trade policy and its implementation mechanisms were revised. In particular, new customs duties were imposed on many types of products, the geography of their supply was changed, etc. In the US national security strategy, the country's industrial base - as a "critical element of American strength" - has a special place. According to experts' assessment, the country's high degree of dependence on the import of a number of food materials, rare metals, as well as some technical equipment and technology has been revealed. In addition, a large part of the import supply comes from China /the main trade competitor of the USA/, from which 78% of the total import of rare materials was made recently. To deal with the challenges facing the country, the national security strategy devoted a lot of space to supporting American manufacturers, expanding own production of rare food materials, increasing the competitiveness of products and, in this regard, reducing the degree of dependence of the country on imports, which should play a decisive role in further strengthening the economic security of the United States. Today, the USA is the world's most developed economy, which is the main determinant of its economic security. In 2021, the world GDP amounted to 94 trillion US dollars, of which 22.9 trillion (24.4% of the world GDP, or almost a quarter) was created by the United States. The leading place in the US economy is occupied by industry, which makes up more than 22% of the country's GDP. The country's industrial development is based on a strong energy base. In this regard, the role of the coal industry is very large. The USA is the third largest producer of coal in the world after China and India. The country is rich in gas and oil deposits. In 2018, the USA took the 2nd place in the world (after Saudi Arabia) for the first time in terms of oil production. The USA ranks first in the world in terms of the total capacity of power plants (more than 800 million kW) and generated electricity, 60% of which comes from thermal power plants, 19% from nuclear power plants, 7% from hydroelectric plants, 6% from renewable energy. The basis of material production in the USA is the processing industry, the leading branch of which is machine building. In this regard, the manufacturing industries of machine tools, air-missile equipment, electric calculating machines, nuclear power plant equipment, electrical equipment and other products stand out. The fastest growing branch of engineering is the production of radio-electronic equipment and communication equipment. The chemical industry, ferrous and non-ferrous metallurgy is growing rapidly. Light industry plays an important role in the US economy, the food industry is highly developed: meat, dairy, alcoholic and non-alcoholic beverages, canning and milling. Agriculture plays an important role in ensuring the country's economic security (first of all, food security). The United States has the most highly developed agriculture in the world, in almost all of its individual branches. The country's land fund is 70 million hectares, 20% of which is arable. The US is located in the temperate and subtropical belt, where all the conditions are there for the production of agricultural crops, from wheat and corn to cotton, soybeans, citrus fruits and sugar cane. In US agriculture, together with the deepening of technical progress, the strengthening of the specialization of farmers is systematically carried out. It should be noted that 90% of the country's agricultural products are produced by specialized farmers, who receive more than half of their income from the sale of one product. The US is the largest exporting and importing country in the world. In 2020, its foreign trade turnover amounted to 4.891 trillion US dollars, or 21.4% of the country's GDP. One of the important problems of US foreign trade is the high trade deficit, which amounted to 659 billion USD in 2020. In addition, it is characterized by a growing trend. In the interests of ensuring the country's economic security, the US should take care of reducing the trade deficit, which should be achieved on the basis of perfecting the export-import commodity structure, raising the country's export potential and further diversification of exports. In conclusion, it can be noted that today the USA is the most highly developed post-industrial country, successfully transitioning to the era of "super-technologies". Its economy is characterized by complex development of all modern fields and high growth rates, use of the latest techniques and technologies, high level of education and population employment. The country's economic and political strength is based on high-level education and science, energy, environmental and military-industrial complexes. All this creates appropriate conditions for the creation of a high level of US national and economic security, the maintenance and further development of which is the subject of constant concern of the American state and society.