Emerging economies are catching up rapidly. China, the world's second-largest economy next to the U.S., expects an average of 9% growth a year for the next decade. The U.S., whose economy barely grew during the first half of this year, will be lucky to see much more than 2% growth this year.
But amid the doom and gloom, the U.S. is still the place most investors and businesses around the world turn to for opportunity -- even though Brazil, Russia and other emerging economies are increasingly catching up. Analysts at U.S. Trust, the private wealth management division of Bank of America, recently reminded clients in a note about "What's right with America."
Fortune highlights five of those points, along with a dose of analysis and -- ahem -- skepticism.