Insurmountable financial problems that we have been trying to cope with, have made us think about going towards a unit
currency
worldwide by which we can bypass the obstacles currently existing in front of us in trading and commerce.
However
, I would say
this
will not be a good idea as it will worsen the
situation
by provoking more economic turbulence. Both sides of the debate as well as some problems expected to arise by
this
decision are explained as follows.
On the other hand
, some economists believe that having a single
currency
trading and
subsequently
will bring about more economic prosperity. Exchanging
money
has served as a barrier in large scale businesses and those involved have always been lodging complaints about the difficulties the exchange process has imposed on them. In every ,trade a certain amount of commission must be put aside and
this
is just the tip of the iceberg, the rate of different currencies against each other fluctuates instantaneously and a mere unexpected alteration would make a huge difference.
On the other hand
, though, I would assert having a unit global
currency
not only would not help international commerce
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but
also
could exacerbate the
situation
as from an economic point of view our
world
is so uneven. Comparing today's economic
situation
of the
world
, we encounter a huge gap whose bridge does not seem possible in short term. Having a single
currency
would worsen the
situation
a
money
laundry could become more accessible for drug dealers and smugglers, not to mention terrorists. Take Europe as an example in which almost all countries are developed and have a satisfactory annual income per capita.
Nonetheless
, the attempt to have a single
currency
at the beginning of the 21st century almost has failed and some countries
such
as the UK have withdrawn recently. Considering the economic homogeneity that exists in Europe, imagine how chaotic the
situation
might get if all countries-including those so-called
third
world
nations whose economics have been getting smaller had the opportunity to use the same global
currency
.
As regards problems of having a global
currency
, I would say
this
would be a complete fallthrough as it would fan the flames of large-scale crimes
such
as human trafficking and drug dealing, as felons would have the opportunity to transfer
money
without being questioned. Exchanging process is currently serving as a barrier against
money
laundry and without it, anarchy is inevitable in
money
circulation.
Further
, it is the competition that has been punishing forward our
world
. Having been stuck in
this
unwanted rivalry, countries must put their best foot forward to stabilize their position in the
world
. Undoubtedly. without
this
, a competition we would not come
this
far and we might be still dealing with meeting our rudimentary needs.
In conclusion, having a unit global
currency
seems fantastic, it is fanciful though and without meeting some preconditions
such
as reaching universal equity, it is nothing more than bluff for some politicians intending to get under the spotlight.