Importance of Infrastructure Development

Importance of Infrastructure Development

The United States of America is a large and influential state, one of the most powerful in the modern world. The diverse and vast infrastructure provide a high level of human life. It is a many-sided country that makes a huge contribution to the development of culture, science and various technologies around the world.

United States Infrastructure – Distinctive Characteristics

Infrastructure is a complex of objects and structures that are interconnected and actively interact, ensuring the development of the state and an adequate standard of living for citizens. US infrastructure is a rather complex system characterized by diversity, innovation, and active development. This structure includes the economy, transport, road, social, market industries, as well as elements of innovative developments.

Economic issue

The US economy is the largest in the world in nominal terms; over the past 50 years, it accounts for about a quarter of the global EaP. At the end of the 19th century, states ranked first in industrial production. Currently, the country is leading in the field of gross domestic product. Main areas of activity: agriculture, industry.

The state is very rich in natural resources, here you can find almost all the main types of minerals. Well-developed oil refining, clothing, tobacco, leather and footwear, chemical industry, the release of aircraft of various orientations, cars, production of other vehicles. This country is the leader in the supply of eggs, meat and milk, fishing, poultry, breeding rabbits.

US market infrastructure

The market economy is well developed, it occupies a leading position in the world. A decent standard and quality of life in the United States confirm this. Market infrastructure includes:

Insurance. The process of convergence in terms of finance continues, regardless of the impact of legislation prohibiting a monopoly. The banking system is integrated with other structures, offering monetary services using a combination of stocks, sales, insurance centers and underwriting companies. Most banks are registered as “financial holdings”. This change occurred six months after the adoption of the Gramm-Leach-Bliley Act. It allows banks to trade investments, allows competition. Statistics show that the United States has the largest insurance market at the moment.

Banking system. It is a free and autonomous structure. Changes are made only after the signing of a specialized legislative act, the president and the Congress cannot make adjustments to the functioning and system of work. The members of the Council are elected for a long term, executing powers for a long time, and are exempt from political pressure. The main components of the banking system are twelve central, quasi-public banks.

Social sphere

There is an established system of functioning of social programs, which provides the best living conditions in the United States. These programs provide support and the necessary assistance to citizens.

Social sphere includes:

  • Health care. US health care is considered the lender by the scale of resources concentrated. Spending on medicine is 16% of GDP per person. This is the only country that does not guarantee a comprehensive and universal health insurance system for citizens. For about 16-17% of Americans, medical services are not affordable, despite their high level and great success in the development of health care;
  • Education. The level of education in the United States affects the level of income, belonging to a social level. About 99% of the population are literate people, 85% over 25 years old have a secondary education, about 28% receive higher education. The federal government has minimal effect on the system, all matters are governed by the state;
  • Pension system. The country receives both private and public pension payments. State pensions have a fixed amount, the same for all members of the profession, private ones – do not have a certain size and are determined by the enterprise. The average pension in the United States is about $1,164 per month.

Most institutions in the United States work from 9 am to 5-6 pm. Banks are open from Monday to Friday from 9 am to 2 pm, while some of them close two hours later. On Saturday, some branches work until 2 pm. Shops open at 9 am, close at 4.30 pm, larger centers continue to work until 9 pm. However, shopping malls in the huge casinos in Las Vegas are open until 12 pm.

Transportation industry

The United States has a well-developed transportation system. About two and a half percent of the state’s GDP is systematically allocated for the maintenance of this infrastructure. About 70% of the movements of the US population account for travel within the country.

The US transportation infrastructure includes the following components:

  • Car roads. They are considered the longest in the world, their length is over 6.5 million kilometers. This number includes both systems of federal roads and regular use;
  • Railways. Since the 1920s, their length has been reduced almost twice. Nevertheless, today the total length of the railway network is 226,427 km, which is a world record;
  • Air transport. The number of airports and airfields with solid runways is a record in the world.

 Why it’s important to develop infrastructure?

The scale and development of the US infrastructure provide a comfortable life for people. Thanks to a clear structure, streamlined work, the country is becoming so popular for immigrants. The service sector creates over 70% of the demand for jobs, forms about 75% of US GDP. All centers are trying to develop the service sector, improve the system of production. New needs of customers and customers give rise to the need for continuous development.