Bank of America CEO Brian Moynihan believes the United States is the most investor-friendly country in the world.
In an interview with Barron’s, Moynihan says four reasons contribute to the exceptionalism of the US as a place to invest and do business.
“What’s fundamentally strong about the United States is the rule of law.
The ability to have a flexible workforce, the ability to bring people into the country, even under different sets of rules over time.
But the ability to have innovation… from research all the way through the process into commercialization at a level no one else has. And that capital markets’ capability, that innovation from pure science all the way through to the commercialization of it. Those are things America’s had.
And then the other thing that makes America important is the final demand. [At] the end of the day, the biggest economy in the world, two-thirds of it driven by consumer activity. That is a place that if I’m selling consumer goods of any kind in the world, or machines to make consumer goods or whatever, I’ve got to think about the United States as a market. Because even though other places have more population, the size of spending and the GDP per capita are not close.”
According to the Bank of America CEO, sentiment on the US could change over the short term, but the fundamental advantages the world’s largest economy enjoys will persist.
“I think there will be ebbs and flows in the views of what to do for the next six months, year, two years. But across long periods of time, America’s the best place to invest.”
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