The economic power of any nation is determined by several factors, both domestic and international. Economic power determines the financial strength and how the country can make independent financial decisions without interference from outside forces. One of the main economic powers that characterize financial strength is Gross Domestic Product (GDP). Gross Domestic Product refers to the total number of finished products and services made in a country within a set period in the business world. Gross Domestic Product is obtained after deducting the value of goods and services required to produce the finished products and services. Different countries have varied Gross Domestic Products globally. However, the developed countries have better Gross Domestic Product values than the developing countries. The United States, being among the developed countries, has one of the best Gross Domestic products. The GDP value for the United States stands at 21.43 trillion USD. The 21.43 trillion USD shows the number of products and services that the United States can produce in a given year. Economists and market analysts rely on GDP values to determine whether the market value of a certain country is on the upward trajectory or whether it is on a downward trajectory.
Business is one of the oldest fields that have been in existence for many centuries. Business activities originate from local trade within a community and advance to national trade characterized by business activities involving people from different regions within a country. However, business activities might advance beyond a country's boundary. Business activities that involve traders from different countries constitute globalization. In the business world, globalization refers to the process by which business entities expand their operations to other countries. Globalization has grown and advanced for the past 50 years. In particular, globalization has grown by over 2% in the last 50 years globally. Globalization growth has been significantly influenced by technological advancement. Technological advancement has eased communication and business transactions, increasing the number of business activities that a country can accomplish within a specified time. Due to globalization growth, GDP's for most countries have grown to accommodate more business activities and markets globally. As more innovations are being invented due to technological advancement, globalization is expected to continue advancing and becoming more accommodative to complex business activities and markets than in the past years.
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The United Nations
New technology has made communication and interaction among citizens of different nations easy. Also, international business and activities, and transactions have become a norm due to technology. However, to maintain international relations and interactions, relevant authorities must maintain peace and mutual understanding. As a result, the United Nations was formed in 1945 in San Francisco, California, United States. The United Nations refers to an intergovernmental organization that brings together nations from all over the world. Informing the United Nations, its founders aimed at maintaining peace among the members, enhance friendly interactions, achieve international cooperation, and act as the center for harmonizing the actions of its member nations. The core purpose of the United Nations revolves around settling disputes among its members. The United Nations disputes relate to the economic, social, cultural, and humanitarian character. Whenever members of the United Nations are involved in an international dispute, the UN intervenes and devises a solution for the nations involved in the dispute. Members of the United Nations operate under the similar umbrella controlled by it and seek advice and help when international problems arise. The United Nations shuns inhumane acts like civil wars, illegal business activities, among others. The United Nations general assembly holds annual meetings that commence in September to discuss global issues that affect their member nations.
