Title: Why We Don't Use One World Currency - The Pros and Cons - ExTravelMoney
Headings: Why We Don’t Use One World Currency – The Pros and Cons
Why We Don’t Use One World Currency – The Pros and Cons
Benefits of one world currency
1. Elimination of currency exchange fees
2. Better utilisation of money
3. Free flow of Trade
Disadvantages of one world currency
1. The economic conditions of each country is different
2. Loss of financial autonomy of a country
3. Brewing up an economic crisis
Comments

Content: When interest rates are decreased, more people borrow money from banks to spend and there is more overall currency flow in the economy. Thus China can control its policies to maintain its economy. However, if there is a single world currency, then China would not be able to implement these economic policies and in the extreme case, their economy may even collapse! 3. Brewing up an economic crisis
A one world currency may solve the problem of forex trading and currency speculation but it might inadvertently create more problems of its own! We previously talked about the central bank of a one world currency having to act in a fair and unbiased manner. However, even when the central bank tries to act fair, a uniform policy will benefit some countries and may prove disastrous for some others! As an example, you need not look any further than Germany in European Union. Germany is probably the country that benefited the most from the adoption of the euro. Germany was a strong economy even before the formation of the European Union and the German Mark was among the strongest currencies in the world.