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?

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With the use of
one
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global
currency
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, there will be many benefits in travelling and cross-border business. I agree with the statement that trade and travel would be a lot easier with the use of
one
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global
currency
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.
However
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, there might be some problems. Let’s discuss the pros and cons. When thinking of
one
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currency
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, everyone points to the Euro. It is a common
currency
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which
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that
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is being used in multiple
countries
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of Europe. European citizens and other tourists travelling to Europe don’t have to carry multiple currencies. Only
one
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currency
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works in
such
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countries
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and people don’t bother about the exchange rates as well.
Similarly
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, global deals of business and trade will be straight forward as
this
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will be without the fluctuation of forex rates. The conversion hassle and global acceptance of a
currency
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would be reduced and some monopoly in trading would be reduced.
Although
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, the idea of global
currency
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is very appealing
but
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apply
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there might be some issues in its implementation at the global level. There are more than 200
countries
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and each has its own
currency
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. No two currencies have the same exchange rate. During
the
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apply
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crossborder
Correct your spelling
cross-border
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deals, the forex difference plays a vital role. With the use of
one
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single
currency
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,
countries
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having higher exchange rates with respect to
other
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others
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will be at receiving end and have to bear the deficit. In the end, it is concluded that
one
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global
currency
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is beneficial for the general public. But there would be challenges in its implementation. Once the problems and issues are resolved, it would be a lot easier for the business community as well as for the travellers and tourists.
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  • Paragraph 1 - Introduction
    • Sentence 1 - Background statement
    • Sentence 2 - Detailed background statement
    • Sentence 3 - Thesis
    • Sentence 4 - Outline sentence
  • Paragraph 2 - First supporting paragraph
    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
  • Paragraph 3 - Second supporting paragraph
    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
  • Paragraph 4 - Conclusion
    • Sentence 1 - Summary
    • Sentence 2 - Restatement of thesis
    • Sentence 3 - Prediction or recommendation

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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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