On the other hand, although its pace of increase has been on a declining trend, the U.S. working-age population is still growing, at 0.8 percent. At the same time, however, we need to pay attention to the fact that the pace of increase in the number of net immigrants has been diminishing, reflecting a recent decline in U.S. growth rates.
The fifth difference is in terms of the flexibility of the economy. The U.S. economy has more flexibility, as witnessed by vigorous entrepreneurship, efficient and smooth functioning of labor and capital markets, and the country’s leading role in research and development.