Global Business Perspectives

I cannot remember a time when our U.S. dollar didn’t get us more in Canada. Well…I guess the time is now. I just read an article in USA Today discussing the devaluing of the dollar.  Link to USA Today article.  Our Canadian neighbors have waited since 1976 to cross the border to shop and buy goods without paying more for it. Is this good or bad news? A little bit of both.

I think in many ways this could be good for local business. If our dollar is weaker, there will be a higher foreign demand for our products. If Canandians start crossing over to Detroit to buy our consumer goods…that is great for us and the local communities. Cha ching!

However, I know that I just felt the weakness of our dollar overseas. I was spending 2 U.S. Dollars for every English Sterling Pound I spent. Ouch! The Euro is a little better at about 1.4 dollars to the Euro but still not fun for us Americans wanting to shop outside the U.S. I think South America still has weaker money than ours so book a ticket and head south of the border to get the best bang for your buck!