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Auto Industry Is the Engine Of The Economy

Updated: Jun 9, 2023

Concern persists that the GDP to debt gap is huge, that the economy is out of sync with the debt, many people have started a move to cryptocurrency. Some worry that the US and others have too much debt in proportion to the GDP, and that this will have a deleterious effect on the stability of the dollar. The Global Economic Outlook warns that growth will be slower than many expect.

But, those who worry forget that the auto industry is the engine of the economy. WGR expects that the economic growth will be rapid and substantial as EVs are rapidly adopted in response to the Ukraine war and the rapid move away from the fossil fuel burning that has such a deleterious impact on the environment.

The war in Ukraine is sure to stimulate US defense department spending. This further bodes well for the stability of the dollar, for the US GDP as a whole, and for the central bank CBDC. Technology drives growth in the modern era, the auto industry drives the economy. With every family poised to purchase an electric vehicle in the next three years, it is anticipated that economic growth will be off the charts. In addition, AI, robots, CBDC cross-border settlement automation, and strong healthcare initiatives will make a difference.

Innovation is key to market growth. Those companies that know how to innovate are the ones that last.

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