496 billion in January 2002 . Total market value of all listed companies (2,800 companies) in the New York Stock Exchange is US$15 trillion currently and ranked the 1st in the world. .
The world is continuously changing. One century ago, people could only contact each other at a long distance by letters. But thanks to the advanced technology, nowadays we can meet our friends face by face through the Internet just as easy as ABC. As time goes on, the U.S society has experienced a tremendous change which can reverse the comparative advantages. As an American philosopher said, "In order to anticipate the future, the only mean is to posses the capability to create the future" . To consolidate the role as the major financial center of the world, the U.S. needs to study the past experiences and to hold the key to the future. Moving into a new millennium, let us have a look at the American history so as to understand how the role of financial center changes. Only learning from history can continue to serve as the financial center of the world with pride, continue to lead the United States of America in all aspects, or even to direct the world economy.
U.S. economics history.
At the beginning of the twentieth century, the United Kingdom was the world's leading trading nation and the British Pound Sterling was the most important currency unit in the world. Many colonies served as markets for British goods, and it was able to import goods that were unavailable or too expensive to produce at England. But times have changed now, and it is now the United States that is the world's leading trading nation, while the United Kingdom has slipped to the fifth position. Japan, which was not even in the top twenty leading trading nations in 1900, now ranks third. Germany, which was second in 1900, still ranks second. The United States, Germany, and Japan were responsible for 30 percent of the world's international trade in 1999.
