The lands of Americas, in the Renaissance period, also rode the momentum to ‘modern’ world, had diverse natives and societies which made the cultures and languages flourish much like the countries in Europe. The complexities of this diversity made it harder for the British regime stake claim starting from the east coast of modern United States. In the ‘modern world’ arc of American history, the sparks of war and revolutions ignited in the 1700s, when the American Revolution or the American War for Independence that is sometimes referred to as the Revolutionary War concluded with the independence of the original 13 colonies from Great Britain. The American Revolution took 169 years to conclude and form into the foundation of American Independence. During the changes brought due to the revolutionary transition and the economic stabilization of America, came with the civil unrest in the different states. The American Civil War in mid-1800s divided the United States into two: Northern and Southern states. The American Civil War concluded with the nation united and free from slavery. Protests and propaganda on civil rights for the slaves had been one of the most notable turns of events. In the 1900-1999 timeline of American history, were the notable events in its course. The United States waged war with Germany in 1917, entering World War I. The women of the United States, after the ratification of the 19th Amendment, were granted the right to vote. The country entered the Great Depression of 1929 after the stock market crashed.
In the scope of the U.S. government, the country is the icon for freedom and liberty. The U.S. government adheres to the U.S. Constitution which establishes the three branches of the government: the legislative branch, made up of Congress; the executive branch is the Office of the President, and the judicial branch, consisting of the Federal Court. There are two major American political parties - Republican and Democratic. Republicans started as an anti-slavery party movement and have conservative political philosophy. Conversely, Democrats have liberal political philosophy and propagates progressive taxation as opposed to a flat tax rate of the Republicans. These two major political parties have huge influences on the country's stance on political, social and economic issues. The people of America enjoy the benefits of their rich history as it is one of the giants in world economies. According to 2019 Index of Economic Freedom (Heritage.org), the economic freedom of the United States has risen six places with its overall score this 2019 is the highest recorded since the year 2011. Since the Industrial Revolution which steered the U.S. economy, citing from 2019 Index of Economic Freedom, the country remains the world’s second largest producer of manufactured goods and leading pioneer and sponsor to research and technological advancement.
Italy is a sensational country with its vivid cultural colors along with a rich history that can still be seen in major cities such as Rome, that is famous for monuments like the Colosseum, where gladiators used to battle, and St. Peter’s Basilica, where Saint Peter, who is a famous catholic figure, is buried. Italy is known for its arts, foods, music, and romance most of that can be traced back to when the Romans ruled, even today the Roman influence is seen in their culture. Italy is a member of NATO or the North Atlantic Treaty Organization and is a founding member of the European Union. Italy is currently recognized as Republic of Italy from their title, the Kingdom of Italy. Historically, Italy has been a colony of another country; tracing from its ancient history of Roman Empire. In antiquity, Italian government was founded as a kingdom along with its monarchy as the leader of the country. Italy was one of the European countries to suffer the repercussions of having had hierarchical societal structure on economy during the Industrial Revolution. Their economic growth had been dramatic upon the stabilization of the new government. Moreover, as the depression alleviated so was the civil unrest. A parliamentary republic dominates Italian politics since monarchs were overthrown by the people and the unification of Italian peninsula, also known as the Risorgimento, happened. Moreover, in 1861, U.S. recognized the independence of Italy which shows the good relations between the two countries. Only during World War II did this friendly relationship had strains under Benito Mussolini’s government declared war upon the United States. However, since then, the succeeding Republic of Italy has had a warm relationship with the United States.
Italy is the third largest economy within Europe however, their public debt is described to be exceptionally high. The debt has consequently, impeded their growth because it constrained their economy. According to The World Factbook (CIA.gov), the debt of Italy is still increasing since the year 2007 reaching a 131% of GDP in 2017. In this aspect, the friendship between the United States is important especially for Italy. The bilateral economic relations of the two countries, under the Treaty of Right of Establishment and the Friendship, Italy is expected to provide national treatment to investors encompassed in the treaty, which includes the United States.
Throughout the course of history, the United States of America had experienced colonial suppression. The diverse races, languages and culture ultimately helped to unify the people and establish the United States of America of today. The government was founded with the Constitution ensuring the freedom and equality in the distribution of power amongst the officials. In contrast to Italy, there were the origins of the once mighty Roman Empire that dominated for many years. Italy, under the Roman Empire, had a hierarchical societal structure with the monarchs leading the country, however they were overthrown by the people due to suppression and overbearing taxation. The transition from monarchy to republic was instigated by the Industrial Revolution. During the Industrial Revolution when production and technology was advancing globally, the different countries of Europe went under a succession of revolutions and rallies. This change did reach the United States of America, so as the rest of the world, became a turning point for the economic focus of the U.S. government. As the countries in Europe continued to experience turmoil, the colonies under the British regime formed friendly ties, which also included the United States. From then, it laid the foundations for the Constitution and American Independence. As the course of American history turned for the better one after the other, with the freedom of slavery and granted voting rights for the women, stabilized the unification of the states.
Conversely, Italy, during this time did suffer the implications and was ignited for government transition; with such chaotic times and civil unrest, their economy fell. The monarchy fell and the Italian Republic succeeded. The economic growth of Italy has been dramatic along with the members of the European Union. However, unlike the present economic status of the United States, Italy has impeded growth due to their outstanding and still increasing public debt.
Among the European nations, Italy is ranked as the third largest economy, however, the present economic status of the United States of America increased in six places according to the 2019 Index of Economic Freedom while Italy is currently ranked 80th. In relation, the friendship between the United States and Italy plays a vital part for their respective economies, more so with Italy. According to an article on international living, “Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, welfare-dependent, agricultural south, with high unemployment. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family owned”. However, there is an alarming rate of unemployment amongst young people which could affect Italy’s future with the percent being at 37.1%.
Under the Treaty Right of Establishment and the Friendship, it enables the U.S. investors to comfortably make business and trades with Italy as they are expected to treat the investor with national treatment including other countries within the treaty. The bilateral economic relations are one of the many connections both countries have. Presently, both countries are members of international organizations like the United Nations (UN), the North Atlantic Treaty Organization (NATO). Moreover, Italy according to U.S. relations with Italy is an observer to the Observation of American State.