We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Class Discussion - Essay Example

Comments (0)
Name: Instructor: Course: Date: Class Discussion Having a global currency allows the trading world to work with a few if not one, currencies across borders. Financial globalization may be defined as the assimilation of financial markets around the globe into one (Mohan 33)…
Download full paper
Class Discussion
Read TextPreview

Extract of sample
Class Discussion

Download file to see previous pages... The only way to eliminate the problem and develop financial globalization is by creating a common worldwide currency (Mohan 39). This paper will discuss why a global economy requires a global currency. The movement of capital and goods across country borders is accompanied by inevitable transaction costs and commissions (Bonpasse 189). Having a single currency minimizes on these costs and improves trade efficiency. Increasing volumes of trade and investments across borders creates a strong partnership between exporters and importers around the globe. Both parties would be beneficiaries of a common currency. Two or more countries trading in the same currency are likely to conduct trade up to three times more than if they were using different currencies (Bonpasse 204). Globalization of currency makes the world an optimal currency area as economic integration makes countries react and adjust in similar ways in their responses to external trends. The closer the trade links countries have, the more related their business cycles are. Therefore, currency convergence may lead to an increased flow of international trade. Multiple currencies also imply uncertainties, because traders are not always quite sure what foreign goods will cost, or what foreign buyers will be willing to pay for their products. At the same time, as globalization grows and volumes of international transactions rises, both independently and in comparison to the world output, the cost of having multiple currencies also goes up (Bonpasse 241). As posed by a research conducted in the United States, most national currencies are a trend of the twentieth century, and international, cross border currencies are the best solution for the future (Hausmann 96). The researcher provides that in the broader perspective, farmers in Africa will be able to get equal pay for their produce as farmers in America, and laborers in Asia will also receive the same pay as their peers around the world. A positive effect of having a global currency is the reduction of the gap between the rich and the poor. There is evidence pointing towards the forces driving the globalization process, in relation to wealthy countries, indicating that they are narrowing the per capita income gap between themselves and the globalizing nations (Aart 103). For instance, India, Bangladesh and China were among the poorest nations in the world a few decades ago, but they have significantly influenced the narrowing of worldwide inequality, thanks to their economic expansion (Aart 104). In an era when international interdependence and integration in trade and economy are on the increase, a standardized and universal system of currency will be among the various complementary measures that will assist in simplifying and facilitating interaction and understanding among the nations (Mohan 76). A single, common currency would serve like a global language, enhancing communications around the world traders. It would eliminate the current difficulties presented by speculation, instability and uncertainty. It would also provide a strong foundation for installing and growing a global economy. It would significantly reduce the cost and risk of doing business internationally. Within the present trading system, more than one trillion dollars are traded every day as investors seek to get best returns with the least risk involvement (Mohan 89). This movement of ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
Respond to the class discussion
However, when the two sides are weighed together, Kant’s first formulation outweighs the third because even if father resolves to help his friend, his family, career as well as respect is at stake. As long as there is slightest risk in his act of saving his friend, he should choose not to save him because he will not even be able to satisfy the third formulation because by loosing his career, he will not contribute to the development of harmony in the society.
4 Pages(1000 words)Essay
Class Discussion
The endeavor can be viewed as a significant attempt of managing the opportunities and challenges created by the impressive increase in intercontinental economic ties since the end of the Second World War. Cases of economic regionalism consist of customs unions, common markets, free-trade areas and economic unions (Scholte 3).
5 Pages(1250 words)Essay
Class Discussion Questions
A tariff on this item could protect the US industry while it catches up to the other countries and becomes more positive on a global market. However, even in this instance of a tariff being beneficial, the benefits are
4 Pages(1000 words)Essay
Class Discussion cis 242
) one or more conditions for evaluation, if the condition is determined to be true the statement(s) needs to be executed, however, the if the condition is becomes false, there is an option for other statement(s) to be executed. The conditions are composed of operators and values
2 Pages(500 words)Essay
Class Discussion
If the company successfully builds on its success and opportunities and takes care of the threats and weaknesses it can be product that can sell. While introducing the product the company should try and enter a market where there is a
1 Pages(250 words)Essay
Managerial Economics class discussion wk9
The same could be said of knowledge economy as organizations have massively invested in the vice. The need to increase development of knowledge approaches to problems has been created by the changing world in regards to advancement and
1 Pages(250 words)Essay
Marketing Management Class Discussion wk6
Through the data collected and analyzed by the article, it negatively affects partner relationship due to variations in costs of production rather than equity. Thus, this
1 Pages(250 words)Essay
Marketing Management Class Discussion wk4
In their teen and college life, baby boomers formed the characteristic counterculture of 1960s but as time went by, by became increasingly conservative and they eventually birthed Generation X and
1 Pages(250 words)Essay
Marketing Management Class Discussion wk1
Both private consumes water and industries within a given market whereby some individuals tend to store water in dispensers to drink in offices and homes; this is a good audience. Almost each and every individual within the
1 Pages(250 words)Essay
Class Discussion Week 12
A team of a core group consisting of the Chief Executive Officer, organization’s Public Relations people and legal counsel is assembled to undertake division and specialization of roles. The key elements of the pre-crisis plan include identification of crisis,
1 Pages(250 words)Essay
Let us find you another Essay on topic Class Discussion for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us