English: The World’s Second Language
Purely on the basis of anecdotal, personal experience, it appears that English is increasingly becoming the world’s second language. As of 2019, there are 55 sovereign states and 27 non-sovereign entities where English is the official language. More important to business and leisure travelers, even in countries where English has no official status, there seems to be an increase in the ability of local citizens to converse in English. This is likely attributable to the increasing emphasis on English in schools around the world.
Investors may want to consider the implications of the increasing use of English as a counterpoint to warnings from some prognosticators who are seeking signs that the dollar is being replaced as the world’s reserve currency and suggestions that the U.S. is in danger of relinquishing its position as the world’s only superpower.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA