The importance of teaching English from the economic point of view

The economic importance of teaching English as a second language is related to the existence of the Anglophone countries like the United States and England which have an uncontested supremacy in this context.

The group of seven is like a club of the most powerful developed economies which control The World Bank, The International Monetary Fund, and the Interamerican Development Bank.

From the group of seven, four members of Anglophone countries are clearly dominated by the United States. This country within the organization is practically one of the most important countries with greater power to decide apparently to protect the members’ interests but, in fact, it only its own when it comes to taking decisions. In my opinion, this gives the U.S. dollar an overwhelming role of monopoly as international currency and, of course, the universal currency dictates or mandates the universal language.

(Taken from: Research in ESP by Francisco Santoyo, 2004)