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What will happen if a global currency was created which has an equal value for all countries?
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Why do all countries not have equal currency?
Having a common currency requires some agreements between different countries; apparently, for this to work, it also requires individual countries taking certain steps to have a stable economy. All this is a bit tricky while there is no central world government; but there are already cases where several countries share a common currency; the best-known case is the Euro, used in most European countries. It can be expected that at some time in the future, all countries in the world will share a common currency, but this won't happen overnight.
Why does the exchange rate of dollars for pesos change?
As one countries economy rises, the other countries may fall. The change in the exchange rate fluctuates with the differing economy from the differing countries. It doesn't only happen with dollars to pesos but with all types of foreign currency.
What is happening in the United States global economy?
It's going down hill. The government is going to start to devalue our currency to get us out of this hole of debt that we are in. Once that starts to happen every other country in the world will no longer deal in dollars because they will be near worthless. Our relationship with other countries will fail. Our taxes will be high, and we'll crash. Nothing much more that we can do.
Which of these does not happen when a nation's currency strengthens?
Foreign goods become more expensive.
What does not happen when a nation's currency strengthens?
Foreign goods become more expensive
Why do all countries not have equal currency?
Having a common currency requires some agreements between different countries; apparently, for this to work, it also requires individual countries taking certain steps to have a stable economy. All this is a bit tricky while there is no central world government; but there are already cases where several countries share a common currency; the best-known case is the Euro, used in most European countries. It can be expected that at some time in the future, all countries in the world will share a common currency, but this won't happen overnight.
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Why does the exchange rate of dollars for pesos change?
As one countries economy rises, the other countries may fall. The change in the exchange rate fluctuates with the differing economy from the differing countries. It doesn't only happen with dollars to pesos but with all types of foreign currency.
What is happening in the United States global economy?
It's going down hill. The government is going to start to devalue our currency to get us out of this hole of debt that we are in. Once that starts to happen every other country in the world will no longer deal in dollars because they will be near worthless. Our relationship with other countries will fail. Our taxes will be high, and we'll crash. Nothing much more that we can do.
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