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Globalisation Demands a Single Currency - Coursework Example

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“Globalisation Demands A Single Currency” paper states thta the creation of economic circulation of the new uniform collective currency, and expansion of a field of activity of any already functioning national currency are the two tendencies that define the ways of development of this form of money…
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Globalisation Demands a Single Currency
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Download file to see previous pages Different theories are presented by different scholars and researchers about the single currency. Some of which support the issue and some do not. Japan, Russia, Malaysia, Brazil, and Argentina are the major countries that will gain positive or negative side effects of the single currency.

A major negative side effect of the single currency will be faced by the dollar, whose value will decrease resulting in other disadvantages. Whereas, the transnational corporations will gain a more strong position. The extent that the capital flows we have observed from Europe to the United States are a critical piece of the story.

A possible solution may be a truly globalized world economy will certainly need a global currency. In case a single currency can keep the stability of prices, then it can favorably affect the potential of economic growth but the instability of the dollar poses a challenge.

The process of globalization emerging and spreading at the moment put a completely different dimension of problems before the states, the decision to which is impossible for most of the countries. An adequate answer to the challenges posed by globalization is the accruing tendency of regionalization which is a component of globalization phenomena but it also acts as the factor restraining negative external influence. One of the basic phenomena within the limits of expansion of the processes of regionalization acts the expansion of a level of cooperation of states in the currency sphere. This includes the means of creation of a uniform currency in various integration groupings.

A single currency represents the intricate phenomenon and a tendency of the search of an adequate and stable form of world money system by the concerned group of subjects of the international economic relations.

We can notice that in the Middle Ages, the facts confirming the existence of a given direction of currency cooperation. ...Download file to see next pagesRead More
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