What would happen if the world only had one currency?

Question

Europe has the Euro.

USA has United States Dollar.

China has Yuan.

What would happen if every country in the world had only 1 currency? What it create chaos? Would it be the best thing ever? What do you predict would happen?

BTW: What would it be called? The worldo?

Thanks!

Answer 1

I'm pretty sure a lot of countries would be against it since a nation's currency is also how they celebrate their heritage. On all of the types of currency I've seen, all except one have commemorated some special person in that country's history.

So to answer your question I think it would be chaos.

Answer 2

It would be called "The Earthin" & I think it would be better if the world only had one currency.

Answer 3

when and if that ever was to happen along with  it would be a one world gov. I would imagine it would just be called credits and everything will go electronic and we shall all have a chip implant and there will be no need to carry ID. or cash. you will just be scanned and go about your way, like lambs to the slaughter.

Answer 4

It would probably cause some problems in the beginning since the value of local currencies vary so much.  So if you were trying to use something equal to a dollar in some parts of Africa, you'd end up working in small fractions.  Just the opposite, if you used something like equal to a currency like in a remote African country, a candy bar in the US would cost 1,000,000 of them.

Answer 5

awesomeee we can buy stuff in paris and other places for the same price as the who,e world

Answer 6

wow, good question

if the world had one currency...

i would name it the uni , short for universal

when you asked this question, the first thing that popped in my mind was "hey, that doesn't sound so bad...."

but then i actually thought about it...

I think having one currency would cause problems, even if it gives hopeful ideas of "unity".  There are so many countries, and most of us aren't the 'best buddies', if you know what I mean.  we speak different languages...and we couldn't pick one over the other.  Just picking a name for the currency would be extremely difficult.  for example, my idea (uni) would be like saying, " hey, let's call the currency an English word, not Chinese word or Japanese, etc, etc"  sure, you can say you can translate it into everyone's own language, but then, there would be too many different names for our currency. Also, changing everyone's currency will drive everyone crazy.  It'll be like learning a new alphabet, that was just created.  I would totally freak if i had to abandon what they taught me of my American currency and adopt a new one.  I also agree with the person who said that countries probably wouldn't want to change currencies because of nationalism.

Answer 7

I think it would make the world alot easier

Answer 8

It wouldn't make any difference what it's called.

The big problem for many countries would still be their system of government. Those countries that promote free trade and the right to work, or free enterprise, would still be the ones that have the highest gross domestic production and have the greatest accumulation of the currency.

Is it any wonder that the free countries of the world have the highest standard of living?