Pros and Cons of Replacing National Currency
1) Obviously the use of different national currencies creates a barrier to further
growth in international business activity, but what are the pros among companies of replacing national currencies with regional currencies?
2) What are the cons?
3) What are the pros among governments of replacing national currencies with regional currencies?
4) What are the cons?
5) Is a global currency for someday possible? Why or why not?© SolutionLibrary Inc. solutionlibary.com 9836dcf9d7 https://solutionlibrary.com/sociology/theoretical-framework/pros-and-cons-of-replacing-national-currency-h084
... which takes time and human resources. Another con in this situation is that the company's personnel must be trained in utilizing the currency of the consumers within that region in day-to-day transactions as well.
3) A pro in this situation is that it will be easier for these governments to attract consumers and tourists from the region to their countries which will bolster their financial well-being. In addition, governments ...