5 Reasons Why America Will Continue To Dominate The Global Economy For Years

1: The U.S. dollar is king - It's the world's reserve currency. From the U.S. Trust report: "The greenback accounted for roughly 62% of global central bank reserves as of the fourth quarter of 2012, according to the IMF, a share down slightly from 2008 but relatively constant over the post-crisis years." It crushed the beleaguered Euro.

2: America is in the middle of an energy Renaissance - Much to the chagrin of some environmentalists, U.S. domestic oil production is in revival mode. It exceeded imports for the first time in 16 years, according to the report. Thanks to "fracking" that unlocked shale in North Dakota, Oklahoma, and Texas, the U.S. has seen a major surge in production, the report notes.

3: The U.S. has one of the most competitive economies - In the latest competitiveness survey from the World Economic Forum, the U.S. slipped to seventh place, down two spots, according to the report. Still, U.S. Trust guesses America will head north on the list in the future.

4:  America has the world's best colleges - American college kids fill their minds with kegs worth of knowledge at some of the world's best universities. Six out of the top 10 universities in the 2012 Quacquarelli Symonds World Rankings’ were American.

5:  The U.S. is the world leader in technology - People still flock to America to become tech innovators. The U.S. is home to the major social media players and beats out other countries in spending levels.