US World Trade Share Essay
Many were shocked and disappointed to know that the United States World Trade share is declining. By this happening, many countries are also affected for the economic status of the United States also determines the success or the standing of their economy as well. Reasons for this could include; the tight competition of the industries especially with regards to exporting and importing, the exchange rate of dollars from within and outside the country.
The tight competition among industries dealing with exports and imports makes it hard for them to go for higher prices but instead they make it a point that they would be very affordable for those companies that will purchase goods from them. While others that still go for higher goods are not that attractive to the consumers resulting in their bankruptcy and eventually closure of the company. The exchange rate of dollars where in other countries are also affected. Currently US dollars exchange rate is very weak.
It can’t buy many euros not like euros which could buy more dollars. Although their weak currency helps their exporting but it greatly affects their importing of goods and others to their country. Most importantly, this causes inflation. However, inflation controls must
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1. “Inflation”. New Standard Encyclopedia. Volume 9. Pages 104- 105.