| Autor: Nataliya Kruchok | 93 |
Strony: 93-98
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Summary
This paper raises concerns about the most recent global currency situation and provides an idea for what future globalization will look like under a global currency. The main contradiction in international currency relations has been a consequence of using the USD as the global currency soon after the gold standard was eliminated. It is indicated that the origin of the global financial crisis was predictable and is the consequence of global economic development under the conditions of globalization without any efficient global currency system being in place to effectively tether the global economy. The criteria and requirements for a new global currency as a necessary prerequisite of the efficient global currency system’s functioning have been formulated. It has been postulated that using this new global currency as a reserve currency by nationaleconomies could help the global economy in its efforts for future stabilized growth.
pełen tekstSummary
This paper raises concerns about the most recent global currency situation and provides an idea for what future globalization will look like under a global currency. The main contradiction in international currency relations has been a consequence of using the USD as the global currency soon after the gold standard was eliminated. It is indicated that the origin of the global financial crisis was predictable and is the consequence of global economic development under the conditions of globalization without any efficient global currency system being in place to effectively tether the global economy. The criteria and requirements for a new global currency as a necessary prerequisite of the efficient global currency system’s functioning have been formulated. It has been postulated that using this new global currency as a reserve currency by nationaleconomies could help the global economy in its efforts for future stabilized growth.