Global Currencycy Essay: An Introduction Of The Single Global Currency

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SINGLE GLOBAL CURRENCY

1.0 Introduction

Single global currency also known as one world currency is used for all transaction around the world. Central bank will produced and also supported the single global currency. There are few global currencies such as US Dollar, British pound, Japanese Yen, and Euro. During the World War II, US Dollar has been the main currency which has the greatest global output and trade worldwide. But after the Euro appeared, it successfully has became a single global currency which is playing a big role on the worldwide trade and world outputs which now competing the US Dollars. Euro is the second largest world currency which is also known as common currency and also is a stable currency which is now …show more content…

This single global currency is to create a reserve currency which able to remain stable in long term until removing the inherent flows which caused by the use of credit based currency. Having a single global currency would improve communications all around the world. It also can says as the one world language. This is probably because a single currency would provide a strong base for the world economy to grow and also terminate the present problems of instability and also uncertainty. This also would reduce the risk of doing business worldwide and also reduce a notable cost of doing business around the world. One world currency also safer and playing an important role by promoting equal rights worldwide. By this global currency, many people can avoided from getting hurt by the effects of the currency rate …show more content…

The only costs associated with trading in commodities right now is the cost of the move. It was easy enough in the past to buy cheap stuff or buy a large quantity of weapons or resell in the black market, the elimination of the need to change the currency to currency citizenship makes this process easier and virtually not risky. With a single global currency, it is easier to compare prices of goods from different European countries. This allows firms to source cheaper raw material and consumers to buy cheaper goods and products. For example, arguably new pants prices are higher in the UK than elsewhere, a single global currency could help to reduce these price differences or make it easier for UK consumers to buy from different Euro countries. Since the Euro was introduced, there has always been a degree of convergence in pant prices in Euro

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