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Article 4 - as a more viable option than the dollar for...

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Article Title: U. S. Dollar Shrinks – Top Three Reasons Article Author: Sandy Robinson, J.D. Article Publication: Ezinearticles.com Date of Publication: November 21, 2007 Article 4 The Iraq war, and war in other countries, is deeply affecting foreign trade. The vale of the United States dollar is ever shrinking into oblivion, and paling in comparison to other countries which it once dominated, like Canada. High oil prices are one of the three factors laid out by the articles author as a reason for the dollar’s drop. As a past and current net importer of oil, the United States is definitely seeing a problem with oil at a high of ninety seven dollars per barrel. With the oil our country runs on, or seemingly runs our country, in an uncertain situation with the war, our foreign trade is deeply involved. A gradual shift away from the dollar and towards the euro for doing business with the oil companies is occurring. Governments and companies are starting to view the euro
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Unformatted text preview: as a more viable option than the dollar for doing international business. It has become perceived as more stable than the U.S. dollar. The Iraq war’s economic impact is difficult at best to measure. Some theorize that the United States invaded Iraq because in 2000 Saddam Hussein had switched from dollars to the euro as the medium of exchange for purchasing Iraqi oil. Whatever the reason, this war on Iraq has caused the United States to be viewed as a not so rational and cooperative republic abroad. Some of the loyalist allies of the U.S. refused support and help in the Iraq war venture. Money that could have been made more productive in other arenas is being funneled into an internationally poorly perceived war. Absolutely the negative impact of the war on Iraq is showing in our foreign trade....
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