Title: One World, One Currency: Could It Work?
Headings: One World, One Currency: Could It Work?
One World, One Currency: Could It Work?
Who Would Benefit?
The Disadvantages
Supply and Printing
The Bottom Line

Content: Economic data estimates that when European countries switched to the euro, €13 billion to €20 billion were saved per year in transaction costs. 2 ﻿
Furthermore, breaking down a currency barrier leads to increased trade among nations. Again, if we take the European Union as an example, switching to the Euro increased trade amongst member nations by 5% to 20%. 3 ﻿
In addition, there would be somewhat of a leveling of the global playing field with one currency, since nations like China could no longer use currency exchange as a means to make their goods cheaper on the global market. For a long time, China has manipulated its currency, undervaluing it, and thus making the price of its exports more competitive across the world. This has been a detriment to the economies of other nations. 4 ﻿ With one global currency, China would not be able to do this, nor would it have a reason to do so. Developing countries would also benefit considerably with the introduction of a stable currency, which would form a base for future economic development. For example, Zimbabwe suffered through one of the worst hyperinflation crises in history. The Zimbabwean dollar had to be replaced in April 2009 by foreign currencies, including the U.S. dollar.