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California right now due to its prominence in many fields. Mexico will likely surpass it within a decade's time and be substantially more powerful. However, Mexico is an entire country with a lot more people so its per capita wealth isn't going to be too great.
Canada is prominent in many fields too, isn't it? Which is the bigger financial power? Plus it has all that oil.
I think an argument for which of the three is the most prominent in the finance sector could be interesting to see.
Yes, on the other hand, California is by far the least indebted of these 3.
National Govts of Canada and Mexico and State of CA Total Debt
Canada $1.181 Trillion....64% of GDP
Mexico $360 Billion.........20% of GDP
California $79 Billion.........4% of GDP
Yes, on the other hand, California is by far the least indebted of these 3.
National Govts of Canada and Mexico and State of CA Total Debt
Canada $1.181 Trillion....64% of GDP
Mexico $360 Billion.........20% of GDP
California $79 Billion.........4% of GDP
California does have a part in the US's overall external debt though, so going by just those stats alone could be very misleading.
Not really. This thread makes no consideration for the fact that California trades tens of billions of dollars a year with the other 49 states and would be considered an 'export' if CA were independent so its perfectly reasonable to therefore say that CA has far less sovereign debt without losing any moral high ground because the premise of my post follows the logic of the OP.
Not really. This thread makes no consideration for the fact that California trades tens of billions of dollars a year with the other 49 states and would be considered an 'export' if CA were independent so its perfectly reasonable to therefore say that CA has far less sovereign debt without losing any moral high ground because the premise of my post follows the logic of the OP.
Oh, so because one factor wasn't considered then other shouldn't be considered either.
California, I see two major advantages that are not yet available in either Canada & Mexico:
- Technology. Silicon Valley is the global leader in startups as well as existing firms, they're a venture capital tycoon plus they have the concentration of well established prominent companies already.
- Ports of Los Angeles & Long Beach. One of the world's most wealthy ports & one of the largest.
Then there is also healthcare & biotechnology, in the latter San Diego is one of the national leaders only trailing Boston & probably Bay Area.
The rest, the GDP statistics provided as well as the per capita income should settle the score presently.
Actually the individual states do have a lot of control over foreign trade. Many trade agreements are signed between foreign governments and state governments. For example, Oregon is the only state allowed to export blueberries to South Korea. So in that situation its not really the United States as a whole trading, its really just Oregon. A lot of governors and mayors of major cities travel abroad promoting trade with their localities.
You're right in the sense that states and municipalities have a lot of latitude in encouraging investment and trade, but none of these things are allowed supersede US trade law (thank the supremacy clause for that one), nor are states allowed to engage in trade wars with each other (which what happens between countries pretty frequently).
The trade that occurs between a state and a foreign country are, for good and for worse, still bounded by US laws and customs. That's the larger point of what I am trying to say.
California by itself is shielded by a lot of these things because it doesn't unilaterally set the complete litany of its trade all by itself.
Sometimes we're shielded, other times we're hindered.
California receives 78 cents in federal funding for every tax dollar it sends to Washington. If there's one state that could conceivably "go at it alone" it's CA.
Edit: voted for Canada by accident, damn!
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