International Business.
Please read the instructions carefully (Directions for thisEssay, Opinions, and Guidelines sections). Do not bid on this order unlessyou are absolutely sure you can deliver exceptional work.
Directions for this Essay:
-Read the opinions given below by another person in answer to two questionsregarding an International Monetary System based on gold and implementing aglobal version of the European Monetary System.
-After reading the opinions given by that person, respond to the followingquestions in a one-page essay:
1) Do you agree with the opiniongiven to question # 1? Why or why not?
2) Do you agree with theopinion given to question # 2? Why or why not?
Opinions:
Question # 1: Do you think an international monetarysystem with currencies valued on the basis of gold would work today? Whyor why not?
Opinion: With the mints printing money continuously,inflation continues to rise because of how much money is in circulation. Thenational debt that continues to rise could not be possible on the gold-backedcurrency system because we would be giving that gold away to clear the debts.In that case, you can only do that so much before you run low or out of itwhich would be catastrophic to the economy and the country. With populationsthat continue to rise and gold being finite, there is a difficulty in balancingthat out. I do not believe it would work today, especially in the U.S. becauseof the amount of debt that we currently have, and because of trade deficitsthat are a norm around the world. It cannot be sustained this day in age in myopinion.
Question # 2: Do you think implementing a global versionof the old European monetary system would work today? Why or why not?
Opinion: I would say that it is possible for that type ofsystem to work if all countries were on board with it. From my understanding,the EMS was created to keep inflation controlled and to benefit countries thatdid trade together because the system was designed to benefit those that tradedwith Europe originally. It seemed to work well until “Germany raisedinterest rates to combat inflation which caused a rift in the system alltogether because of the “need for low-interest rates and high exports,resulting in a crisis.
Guidelines:
-Do not use Wikipedia as a reference.
-Please put together complete and well-thought-out responses. Original input isgreatly appreciated it, so please integrate your thoughts and experiences inthe essay.
-Also, answer the questions completely. Quality counts, so be brief thoroughand to the point.
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