Why the US Navy Is the Hidden Backbone of the Global Economy
Global Trade and the United States Navy
Global trade is a quarter to a third of the world's economy, and 80% of goods move by sea. This essay argues that the US Navy is the load-bearing component keeping those sea lanes open, and that without it, pirates and states at choke points would disrupt trade, devastating both rich and poor nations. It breaks down why trade matters for everyone, from food security to industrial development, and why no other navy can currently replace the US in this role.
If your household income fell by a third, that would be very difficult for you. If every household’s income fell by a third, the resulting economic contraction would be double the size of the Great Depression.