Name: Why does the US economy matter? | Start Here
Uploaded: 2021-10-11T16:09:58.000Z
Duration: 10 min 9 s
Description: VoiceTubeの動画で発音を聞きながら英語表現を覚えよう！学べる英語：

Let's talk about the world's biggest economy

転換語

the US economy is well on  the way to recovery

The whole world is trying to get back on track.

So who really created the strong US economy

And is inequality getting worse — not better?

is considered the biggest economy in the world.

The US is also the most important export destination

So much that they're the engine of the US economy.

And it all ripples  throughout the fabric

Another reason the US economy matters to all of us

is that the US dollar is the undisputed king of currencies.

Most global transactions and trading in things

like oil and gold are  done in US dollars.

Countries used to settle international transactions

and chose to peg their currencies to the dollar.

That's because the US had the most gold at the time.

Japan needs the dollar to be stronger against the yen

But a country like Turkey would rather a weaker

US currency because banks and businesses there

In other countries a strong dollar can fuel inflation.

In Argentina that pushes up prices for basic things

but it can harm US manufacturers by making

Overall, though, the  dollar is largely seen

Lately the US dollar has  gone up and down.

That has to do with  all sorts of things.

But a lot rides on how the US economy performs.

which is the total value of goods and services

produced in that country over a period of time.

And you can see that over the last 10 years

Like the rest of the world the US economy was devastated

President George W Bush started the clean-up

shoring up banks and  rescuing US companies.

The Federal Reserve also played a massive role

buying bonds and keeping interest rates low.

And all that continued under President Barack Obama.

Congress spent hundreds of billions of dollars

on things like social security and tax relief.

its longest economic expansion on record.

He cut regulations to make doing business easier

The promise, there, was to help businesses

A lot of those companies used those tax savings

to buy back stocks and boost their value instead.

Then there's Trump's trade policy of putting America first.

saying they were unfair and hurt American manufacturing.

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Why does the US economy matter? | Start Here

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