“The concept of money should be eliminated in the world and a common currency should be used.” I cannot say that I agree with this opinion.
The idea of eliminating individual currencies around the world in favor of a common global currency is, in my opinion, very complex. While a unified currency can increase efficiency and have advantages such as facilitating global trade expansion, it also leads to a higher vulnerability to economic crises.
A single global currency would undoubtedly encourage interconnected economies and streamline transactions. This efficiency can lead to acceleration of international trade and improved economic cooperation. However, the fragility of such a system becomes apparent in times of crisis. Countries will lose the ability to manage monetary policies independently, making them susceptible to the domino effect of economic downturn.
The Euro, adopted by many member states, has undoubtedly supported trade and labor mobility within the Union. However, the 2008 financial crisis revealed the disadvantages of the common currency. The inability of individual nations to independently adjust their monetary policies increased economic difficulties and led to discussions about returning to national currencies.
As a result, a global currency could be a problem. I think it can be difficult to strike a delicate balance between a unified currency and maintaining individual economic resilience.C