Samuelson, Robert J.,
Bottom Dollar. Robert J. Samuelson. - Newsweek, 2005. - SIRS Enduring Issues 2006. Article 7, Business, 1522-3191; .
Articles Contained in SIRS Enduring Issues 2006. Originally Published: Bottom Dollar, March 21, 2005; pp. 38+.
"The significance of the dropping dollar is that it's actually a symptom of a larger and more troubling development. For 15 years the American economy has been the engine for the world economy through ever-increasing trade and current-account deficits (the current account includes other overseas payments like travel and tourism). In 2004, the U.S. current-account deficit is estimated to have reached $650 billion, a record 5.6 percent of the economy (GDP). Other countries' economies benefit from sending their goods to eager American buyers, and the United States in turn sends massive amounts of dollars abroad to pay for those goods. The trouble is that there are now more dollars than foreigners want to hold." (NEWSWEEK) The article reveals that the U.S. has a growing trade deficit and discusses how a trade deficit affects the dollar and other currencies by using real world models.
1522-3191;
Balance of trade
Consumption (Economics)
Devaluation of currency
Dollar--American
Foreign exchange rates
International economic relations
United States--Economic conditions
AC1.S5
050
Bottom Dollar. Robert J. Samuelson. - Newsweek, 2005. - SIRS Enduring Issues 2006. Article 7, Business, 1522-3191; .
Articles Contained in SIRS Enduring Issues 2006. Originally Published: Bottom Dollar, March 21, 2005; pp. 38+.
"The significance of the dropping dollar is that it's actually a symptom of a larger and more troubling development. For 15 years the American economy has been the engine for the world economy through ever-increasing trade and current-account deficits (the current account includes other overseas payments like travel and tourism). In 2004, the U.S. current-account deficit is estimated to have reached $650 billion, a record 5.6 percent of the economy (GDP). Other countries' economies benefit from sending their goods to eager American buyers, and the United States in turn sends massive amounts of dollars abroad to pay for those goods. The trouble is that there are now more dollars than foreigners want to hold." (NEWSWEEK) The article reveals that the U.S. has a growing trade deficit and discusses how a trade deficit affects the dollar and other currencies by using real world models.
1522-3191;
Balance of trade
Consumption (Economics)
Devaluation of currency
Dollar--American
Foreign exchange rates
International economic relations
United States--Economic conditions
AC1.S5
050