With international political economics theory as a central part, I need to identify problems with organizing the international currency system. Please in detail.
RESPONSE: An international currency system raises numerous questions and concerns. Creating an international currency system requires planning and anticipation of future contingencies.
First, like any organization, an international currency system must have some type of governance structure. Who decides what policies will be followed? Will the international currency be controlled by a committee of member countries, all member countries, or a single country? Does majority rule dictate policy or will a super-majority rule (for example, 67% need to approve)? How will minority rights be protected? Overall, the decision-making structure of the international currency system is essential to understand the types of problems that could emerge.
Second, membership questions must be addressed. Who can become members to the system- ...
International political economics theory is utilized.