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In a recent debate with President Donald Trump, Democratic vice presidential nominee Kamala Harris highlighted the importance of the “opportunity economy” and the need for policies that support the growth of small businesses and innovation. The debate came as the global economy continues to face uncertainty amid the ongoing COVID-19 pandemic and geopolitical tensions.
Meanwhile, the financial markets also experienced volatility as Bitcoin, the top cryptocurrency, slid in value while the Japanese yen hit an 8-month high against the US dollar. These movements in the markets reflect the increasing uncertainty and risk aversion among investors as they seek safe-haven assets in times of economic uncertainty.
Bitcoin, which has been on a rollercoaster ride in recent weeks, dropped by more than 5% to $10,405 on Wednesday, its lowest level in weeks. The volatility in the cryptocurrency market has been fueled by concerns over regulatory crackdowns and a lack of mainstream acceptance.
On the other hand, the Japanese yen, which is often considered a safe-haven currency, strengthened to its highest level in 8 months against the US dollar. The yen’s rise reflects investors’ growing appetite for safe-haven assets amid escalating trade tensions between the US and China, as well as fears of a global economic slowdown.
The debate between Harris and Trump highlighted the importance of supporting small businesses and fostering innovation in the economy. Harris emphasized the need for policies that promote inclusive growth and provide opportunities for all Americans to succeed. She also called for investing in infrastructure, education, and healthcare to create a more equitable economy.
In contrast, Trump touted his administration’s record on job creation and economic growth, arguing that his policies have fueled a strong recovery from the pandemic-induced recession. He also highlighted his efforts to deregulate the economy and cut taxes to stimulate growth.
As the global economy grapples with uncertainty and volatility, it is more important than ever for policymakers to focus on creating an environment that supports innovation, entrepreneurship, and small business growth. The debate between Harris and Trump underscored the need for policies that will help drive economic recovery and create opportunities for all Americans to thrive.
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