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Writing Samples
Band 5

With the scale of globalization today, it would be of unquestionable benefit to have a single world currency. To what extend do you agree or disagree.

#scale #globalization #benefit #world #currency
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Recent advancements in science and technology, particularly in information technology have made the
world
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 a global village. It is the need of the hour to have a common
currency
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,
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 so that worldwide trade does not face any difficulty. I believe that a single
world
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currency
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 is of utmost importance in the modern
world
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.
To begin
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 with, there are a few drawbacks to
have
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having
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 a uniform
currency
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 on the globe. In
current
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the current
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 economic system, the economic condition of a country is indicated by
value
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the value
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 of its
currency
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such
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apply
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as Indian economy is better than Pakistani as one Indian rupee is equal to almost two Pakistani rupees. So with implementation single
currency
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 worldwide would diminish
this
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 demarkation.
Moreover
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, the
currency
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 of each country is the identity of that nation, if a single exchange system is introduced
then
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identification
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the identification
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 of those countries
lost
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is lost
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.
On the other hand
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, there are enormous positives of opting
a
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for a
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uniform
currency
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. First and foremost, a uniform banking system can work efficiently throughout the
world
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, for ,example financial institutes do not need to convert currencies for international transactions.
Secondly
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, it would minimize the discrimination between the economies of poor and rich countries
that
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which
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 could significantly decrease economic and political differences among nations.
For instance
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, China and the USA have been
confornting
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confronting
comforting
 each other in a trade war in order to achieve the supremacy of their currencies for the
last
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 few decades. In conclusion, I think that even though a single
world
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currency
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 can affect national identities, the convenience in global trade and reduction in the economic gap amongst countries are more beneficial.
Submitted by drmehmoodahmed33 on

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Task Achievement
Your essay demonstrates a clear understanding of the topic and presents relevant arguments both for and against a single world currency. However, to improve your score, provide a stronger stance and more specific examples to support your points.
Coherence and Cohesion
Your essay has a logical structure with a clear introduction, body, and conclusion. Your ideas are well-developed and your arguments are supported. However, pay attention to using linking words to improve coherence.
Topic Vocabulary:
  • globalization
  • monetary policy
  • economic integration
  • exchange rate
  • fiscal coordination
  • transaction costs
  • financial crises
  • sovereignty
  • propagation
  • international trade
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