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Charles Mann: “That kind of globalization that we’re in now, where bank collapses in Iceland can ripple across the American Midwest. That all begins in the 16th century and it begins with the creation of this universal currency.” Give one example of how the creation of this universal currency affected a nation or people.

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michell96

The creation of the universal currency affects people and nations because the economic consequences of an event can influence different countries.

The universal currency is an economic term to refer to the strengthening of one currency over the others to carry out international transactions between nations. Among the strongest currencies on the market are:

  • Dollar
  • Euro
  • Pound

According to the above, these universal currencies influence the development of world economic crises because they impact the entire market for raw materials and manufactured goods. Examples of these crises can be:

  • The Great Depression
  • The economic crisis of 2008

Learn more about the economic crisis in: https://brainly.com/question/7937834