The Dollar is Strong. That is Good for the U.S. but Bad for the World. https://www.nytimes.com/2022/09/26/business/economy/us-dollar-global-impact.html
According to New York Times, the British pound has touched a record low against the dollar. The value of the dollar is causing economic turmoil in rich and poor nations. Starvation is a greater problem for Nigeria and Somalia because of the strong dollar it is pushing up the price of fuel, food, and medicine.
“For the rest of the world it is a no-win situation.” – Eswar Prasad
The dollar is the worlds currency. Energy and food tend to be baught and sold in dollars. According to the international monetary fund, 40% of the worlds transactions are done in dollars. The dollar is beating other currency like, the Brazilian Real, the South Korean Won, and the Tunsian Dinar.
Currently there are supply chain chokeholds because of the COVID-19 pandemic, the Russian invasion on Ukraine, climate disasters, and food and energy supply. American buyers are getting a bargain because of the high dollar value, this means that the worse things get, the more people buy dollars.
This week was news comment 5. Next week will be news comment 6.
Same as with the previous news comment. OK on summary but include comments about the story and how it was written.