Bottom Dollar. Robert J. Samuelson.
by Samuelson, Robert J; ProQuest Information and Learning Company.
Series: SIRS Enduring Issues 2006Article 7Business. Publisher: Newsweek, 2005ISSN: 1522-3191;.Subject(s): Balance of trade | Consumption (Economics) | Devaluation of currency | Dollar -- American | Foreign exchange rates | International economic relations | United States -- Economic conditionsDDC classification: 050 Summary: "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.| Item type | Current location | Call number | Status | Date due |
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High School - old - to delete | REF SIRS 2006 Business Article 7 (Browse shelf) | Available |
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.
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