The United States of America emerged in the mid 1700’s following almost 200 years of incursions by European colonists, who over the period had occupied certain sections of the vast territory spanning the east coast, the south and western territories controlled by Britain, France and Spain respectively. US citizens of the time fought many battles to free themselves from colonialism progressively liberating America from European control spreading the United States westward, starting from the east coast.
At the beginning of the 20th century, rapid industrialization and entrepreneurship resulted in wide-scale economic expansion and the growing global influence that led to the formation of the world’s most powerful nation. The video below summarizes US history and its rise to prominence quite well.
If one considers why America took up a leading role in directing global politics and economic growth, it is clear that war and constant battles are not conducive for economic growth and development. The US economy, industry and infrastructure developed in the early part of the 1900s emerged out of World War II, relatively unscathed when compared to the devastation endured by its European allies, whose economies were virtually bankrupted by the war.
The US’s power and might extended to military technology which played a major role in ending the second world war. Global elites then embarked on a new era aimed at ensuring global peace and stability crafting the new direction for the global economy at the 1944 Bretton Woods Conference.
These global experiences provide very important lessons for developing nations or regions like Africa on how to go about crafting a future that will promote economic growth, development and prosperity including the key ingredients listed below:
1. Peace and political stability
2. Free trade
3. Rapid industrialization
4. Infrastructure development
5. Technology and innovation
6. Entrepreneurship