Question

Is the United States truly an economy that promotes competition?

Answer 1

The United States was named the world’s most competitive economy by the World Economic Forum (WEF).Historically, US is known for its free market policies to promote competition because they never manipulated their currency send also encouraged investments and imports from all the countries which are true indicators of competition.

However, over the past few years, there is difference in the approach as US has imposed huge duties on imports which is likely to discourage competition.