One of the good things
in the word is a single global currency. There can be no doubt that trade and
travel would be vastly easier. On the other hand I believe that it would cause
problems today.
The benefits of a
single currency can be seen with the use in Europe of the Euro. Whenever you
are travelling between countries using the Euro, the problems of currency
changing and exchange rates are history. Similarly business between countries
using the Euros is so much easier; no more worrying about exchange rate risk
and pricing. Everyone‛s money is the same. The same thing is true with the US
dollar. Most countries do not use the US dollar but it is accepted in many
places.
At present though
a global currency would be impossible. Firstly some countries would not accept that
because they don’t like each other. Secondly some are economically very strong
and some are in a state of collapse with inflation ruining the economy. Such
countries could not be brought into a world currency as it would cause massive
financial instability worldwide.
In conclusion I
see a global currency as a future ideal but it will not happen in my lifetime.
It would make trade and travel much easier but the problems it would cause
nowadays would be insurmountable.
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