IELTS essay, topic: With the scale of globalisation today, it would be best to have a single world currency (agree/disagree)
This is a model response to a Writing Task 2 topic from High Scorer’s Choice IELTS Practice Tests book series (reprinted with permission). This answer is close to IELTS Band 9.
Set 4 General Training book, Practice Test 19
Writing Task 2
You should spend about 40 minutes on this task.
Write about the following topic:
With the scale of globalisation today, it would be of unquestioned benefit to have a single world currency.
To what extent do you agree or disagree with this?
Give reasons for your answer and include any relevant examples from your knowledge or experience.
You should write at least 250 words.
Sample Band 9 Essay
Globalisation has become a significant aspect of the world’s modern economy, with countless industries and businesses expanding in various countries. This has led to the debate of developing a world currency with many people believing it could drastically help further develop economies and assist in the development of many countries.
A worldwide currency could bring on effects similar to when Euro was developed for Europe. Trade could be significantly encouraged, as there would be no exchange rate fluctuation risks between different currencies. Moreover, tourists would not need to exchange money when travelling.
However, there are certain risks to a global currency, which definitely do not make it an “unquestioned benefit”. Countries in debt would not be able to lower their currency value to make consumer goods more desirable, which could develop into a severe economic issue. For example, the US regulated its interest rates to increase the money resources in order to diminish the effect of a recent recession. Also economic problems, such as in Greece, have actually been made worse by the use of the common Euro. If applied worldwide, many countries’ economies could be very similarly negatively impacted. Finally, many countries around the world do not have a stable enough economy to be able to enter a common currency. If weaker countries were to adopt a world currency, this could be disastrous to their economy and to the economies of other countries using the same currency.
In conclusion, the extent to which a global currency would be beneficial is quite low. It seems to me that the risks outweigh the benefits, as if a country were to lose economic stability, the world would be impacted as well. For that reason, I feel that in present circumstances, it is best to have separate currencies to protect countries from economic recession.
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