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According to Wikipedia, the United States of America has a mixed economy, which consists on the following description from Wikipedia: Mixed economy is an economic system in w â¦ hich both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies.
US Economy. In 2016, China was the world's largest economy for the second year in a row. It produced $21.3 trillion in economic output. The European Union was in second place, generating $19.2 trillion. Together, China and the EU generate 33.9 percent of the world's economic output of $119.4 trillion.