Skyscraper City Forum banner
1 - 20 of 20 Posts

·
Banned
Joined
·
503 Posts
Discussion Starter · #1 ·
Why cant the world have one currency? Lets the whole world uses the dollar as its currency.
Thoughts?
 

·
Registered
Joined
·
175 Posts
Never. Although dollar is the unofficial currency of the world.

Too many proud countries. Heck, UK won't even switch from pounds to the Euro.
 

·
Registered
Joined
·
261 Posts
If you are talking about a world currency but not the US Dollars , the first to object will be the USA. Who will given up the benefit/right to exchange all goods on this planet just by printing out coloured papers ? Who forced this planet to given up the idea of issuing currency must be backed up by gold reserve ? If the world has to issue a world currency, there must be restriction on those countries who will print and issue such world currency, just like the restriction on countries issuing Euro.
 

·
Registered
Joined
·
2,567 Posts
Also its going to be difficult with different trading conditions all over the world which ultimately results in different inflation rates. So a dollar in say Africa might not be able to buy you the same burger and coke Canada. So it would become a nightmare to co-ordinate this things across such a vast place. Whichever authority will be charged with managing the new currency would have a lot of work to do. Not to mention the national pride that many of you have alluded to. Its doable but i guess we need to have most countries on the same equal or at least comparable footing economically just like th countries that were invited to join the Euro zone were.
 

·
Registered
Joined
·
261 Posts
Now we are talking about global economy, there is very few countries which are still isolated from the gobal economy system. The issuing of world currency can replace the current system of foreign exchange which will facilitate the international trade, just like Euro in EU. The only country not happy with it will be USA because while everyone can be benefited from the system, it lost it long unfairly benefical status. No one know how many green colour paper has been printed and they can just use a piece of paper to exchange the result of your hard work and natural resource. there is no better deal then that.
 

·
Banned
Joined
·
503 Posts
Discussion Starter · #8 ·
What about Africa? Cant Africa have a one currency for its continent just like europe with the euros.
 

·
Registered
Joined
·
1,953 Posts
African countries need to first have regional intergration before anything else. The next step is an African currency. Africa should not stay away globalization because the west, and the internatonal institutions are hell bent on destroying our people:eek:hno: .
 

·
Registered
Joined
·
261 Posts
Developing countries should put aside their own arguments and dispute and be united. When the small ones are united into a strong one, they can get much better deal with the developed countries. Of course the developed countries will not like to see that happen and will try to promote conflict and civil wars among those developing counries. As I have said, for places where there are no sufficient resource for everyone to live on a descent manner and with so many historical conflict due to difference in culture/religion/racial, it is much more easy to promote conflict then to promote unity. Hope the leaders in Africa are wise enough and with vision to get over those tricky things and not to be fooled by those former colonial powers.
 

·
Registered
Joined
·
12,463 Posts
Very soon, most african countries will stop using their present currencies for new currencies that are used within economic blocks. We have the Central African Franc and soon the West African Eco and the East African Shilling being proposed. I wonder if southern africa will adopt maybe the Rand for all SADC countries. Same goes for North Africa. If these currencies are successful then we may move on to having one major African currency for the entire continent (let me call it ''Afro''.)

Another scenario is that very soon the world may do away with paper currencies and adopt electronic trading instead for all transactions. Though this may take quite some time to happen (especially in Africa).
 

·
Modulor Man
Joined
·
1,007 Posts
offtopic

:llama: :llama: :llama:
 

·
Registered
Joined
·
261 Posts
Economies need to be reasonably integrated before you can adopt a single currency.
========================================================
Even now if small country want to buy things from aboard, they have to buy by paying US$ or Euro, there will be no difference if they buy in the World Dollar. The only difference is that there will be an international organisation to govern the issue of World Dollar. That will deprive the power of the developed countries to control the monetary market.
 
1 - 20 of 20 Posts
Top