The Future Of Currency Essay - 3241 Words

The Future of Currency nbsp;nbsp;nbsp;nbsp;nbsp;In the present day, the worlds economy is ever-changing and adjusting. Many different reasons control the reasons for this. The future of currency is something that can only be predicted and is not guaranteed. However, there are many determing factors behind the changes that can take place. Asia and North America are two continents that have economies that have recently changed or are in the midst of change. World War 2 drew a hard blow and left a serious and lasting effect to many Asian countries. This however, did not hamper the growth of countries such as China, Japan and Vietnam as their governments were taking serious steps to recover economically. Thus, the global market cannot†¦show more content†¦In accordance to this, China went on a construction binge. Whole factories were purchased from abroad while others were built with local resources. By 1978, the frenzy for new projects reached a level that reminded some people of the Great Leap Forward. In an effort to promote agricultural production, the government released many of the restrictions on the spontaneous capitalist tendencies of the peasantry. (173) In the late 1980s, the government decided to expand the scope of private marketing. The next step was to increase the amount land assigned to the peasants. The peasants were now not responsible to the government for the use they made to the private plots. They simply co uld grow what they wished, for the sale to the government or to private markets. This led to furious rebuilding and inflow of foreign investments. All this enabled China to remake itself into Asians hub of finance, trade and culture. By 1984, they were producing more than $1 million worth of rice and a range of side products, including rice wine. Their residential earning was up to about $200 a year. (Prager 52 ) This meant that they could begin replacing their mud-and-straw hats with solid brick houses. Shanghai today is a vast construction site with more than 20,000 projects, with 27,000 companies building bridges, tunnels, flyovers, ring roads, hotels, villas, golf courses and also public housing. This sparked national growth of about 10% a year.( 53 ) The Chinese now are going homeShow MoreRelatedNotes Currency And Its Future2165 Words   |  9 PagesPaper Currency and Its Future Currency has long been used as a tool to purchase things like goods and services. The many transactions of these early times involved the exchange of both coins and paper. However, in our modern era of cell phones and plastics, these primitive methods of payment may be coming to an end. With the introduction of credit cards and easy payment via cellular, this outcome may not be very far off. 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