Trade and travel would be a lot easier with a single, global currency that we all use. Do you agree or disagree with this statement? Would a single currency cause any problems?

Over the past few
years both
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years, both
travelling, and
business
has become very easy due to the adoption of
rule
Suggestion
rules
a rule
to deal in the standard
currency
. Some people think that, the acceptance of
this
rule brings easiness in travelling and
business
as people can easily deal with the single
currency
conversion while some people think that, it lows the value of the
currency
and raise numerous issues on the economy of developing countries. In my
opinion there
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opinion, there
are more
backdraws
of standardizing the
currency
such
as
low value
Suggestion
the low value
of
currency
of developing countries, overburden during conversions and tax deduction. While I must agree with the benefits that are in term of easy transfer of money and dealing of products in standard
currency
.
To begin
with, I would like to emphasis on the condition of countries like Pakistan, India and Bangladesh. These countries are facing poverty and inflation. Due to the
use
of single
currency
which is dollar to do
business
or buying the products. These countries convert their
currency
to dollar due to which the rate of
dollar
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the dollar
a dollar
goes up and
value
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the value
of their own
currency
goes down.
Secondly
, most of
developing countries
Suggestion
the developing countries
are borrowing some money from other countries in
name
Suggestion
the name
of donations which the developing countries must return after specific
period but
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period, but
, unfortunately due to
unstable condition
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unstable conditions
the unstable condition
of local
currency
they bear the extra load on their economy.
Last
but no least, conversions to other
currency
also invites
Suggestion
have also invited
are also inviting
the overhead of
tax which
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tax, which
is in most countries more than 20% of the total
currency
. In the consequences the economy of countries under development suffers badly.
On the other hand
, standardization of the
currency
brings the easiness in
business
. Investors all over the world are investing more in the
business
and travelling as they overcome the issue of conversion of
currency
by standardization. All the product which
sell
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sells
out on
international level
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an international level
like
fuel
, diesel and gas are in dollars. The
business
community is truly enjoying the summer of
use
of single
currency
only. To sum up, the standardization of
single
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the single currency
a single currency
currency
is useful for the specific
business
community while, overhead for the common citizens and governments. Every day traffic seems to get worse on our roads. How can we reduce the number of cars on our roads today? What alternatives can we offer car drivers? It seems that,
use
of vehicles has been
increased
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increasing
over
past few years
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the past few years
. Nowadays people prefer to
use
their own cars to travel. Which cause too much rush on the roads and
this
situation ultimately leading towards the environmental pollution. While the issues of rush, accidents and
enhancement
Suggestion
enhancing
enhance
in
fuel
consumption are
also
there. These issues are on the priority of governments of both developed and under-developed countries. In my opinion, there are
number
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a number
of precautionary measures that should be taken on both
government
and individual level. As no one
alone nor
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alone, nor
government
and neither common citizens can address.
Firstly
,
government
Suggestion
the government
should emphasis on the formulation of rules and regulation to regulate the traffic while their implementation is equally important.
Such
as the
travelers
a person who changes location
travellers
are bound to
use
bicycles if they are travelling within 2km from their place.
Secondly
,
Government
Suggestion
the Government
should ensure the availability of the public transport which must cover the route which is according to the needs of people.
Thirdly
, the rules or SOP’s to save environment from the
fuel
must be
constitute
Suggestion
constituted
to save the environment and the people from environmental diseases.
Lastly
, there must be some awareness campaign via billboards, seminars, lectures, tv advertisements, printed media and actor’s endorsement.
Furthermore
, the role of individuals cannot be ignored. As common citizens are getting directly affected by the worst conditions of the roads. As they are unable to reach their destination
at
Suggestion
on
in
time. Bearing high cost of
fuel
and maintenance cost of vehicles. For travelling they must consider the public transport as their priority and reasonably give suggestions for the improvement of service.
For instance
,
Chinese
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the Chinese government
government
has taken initiative to control the rush on roads. They started bicycle service free of cost for the citizens. They can easily get the bicycle near to their place and left near to their destination.
Such
ideas must be encouraged and adopt by other governments.
In addition
to that, the citizens must be responsible about their own safety and about the other people with whom they are sharing
roads
Suggestion
the roads
. To conclude, the condition of roads can only be
control
Suggestion
controlled
by the enhancement of public transport and by creating the awareness among the citizens.
Submitted by alizabasharat48 on

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Topic Vocabulary:
  • global currency
  • economic interdependence
  • financial autonomy
  • exchange rate
  • monetary policy
  • economic instability
  • international cooperation
  • economic disparity
  • global transactions
  • implementation challenges
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