THE SOVEREIGNTY DILEMMA: BALANCING ECONOMIC INTEGRATION AND NATIONAL IDENTITY IN A SINGLE GLOBAL CURRENCY
Abstract
This research paper explores the feasibility and potential implications of implementing a single global currency. Drawing on existing literature and empirical studies, we analyze the economic, political, and social implications of creating a single global currency, and examine the challenges and benefits of transitioning to such a system. Our analysis suggests that while a single global currency could have significant benefits in terms of greater economic integration and increased efficiency, there are also significant challenges that must be carefully considered and addressed. These challenges include issues related to sovereignty, coordination among countries, and the potential impact on international trade and investment. We conclude with recommendations for future research and policy development, including the need for further research to better understand the potential benefits and drawbacks of a single global currency, and strategies for addressing the challenges that would arise from its implementation. KEYWORDS: Global Currency, Economic Integration, Financial Systems, International Trade, Sovereignty, Coordination, Policy Development.