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Trade and travel would be a lot easier with a single, global currency


You should spend about 40 minutes on this task.

Present a written argument or case to an educated reader with no specialist knowledge.

Write about the following topic:

Trade and travel would be a lot easier with a single, global currency that we all use. Do you agree or disagree with this statement? Would a single currency cause any problems?

Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Write at least 250 words.

Sample Answer:

In today’s globalized world, the idea of having a single, global currency is a topic of much debate. While some argue that it would make trade and travel much easier, others believe that it could cause a host of problems. In this essay, I will discuss both sides of the argument and provide my opinion on the matter.

Proponents of a single, global currency argue that it would streamline international trade and travel. With a universal currency, businesses would not have to worry about fluctuating exchange rates, making it easier for them to conduct transactions across borders. Additionally, travelers would not have to worry about exchanging their money when visiting different countries, as a single currency would be accepted everywhere. This would undoubtedly simplify the process of both trade and travel, making it more efficient and cost-effective.

On the other hand, opponents of a single, global currency argue that it could cause a host of problems. One major concern is that it would strip countries of their monetary independence. Currently, countries have the ability to adjust their own currency in response to economic conditions, but with a single currency, this option would no longer be available. Additionally, a single currency could exacerbate economic disparities between countries, as it would not account for differences in wealth and productivity.

In my opinion, while the idea of a single, global currency is appealing in theory, the potential problems it could cause cannot be ignored. It is important for countries to maintain their monetary independence in order to respond to their unique economic conditions. Additionally, a single currency may not be feasible given the vast differences in wealth and productivity between countries.

In conclusion, while a single, global currency may seem like an attractive solution to the complexities of international trade and travel, it could potentially cause more problems than it solves. It is important to consider the potential drawbacks and carefully weigh the pros and cons before making such a significant change.

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