1F236 Free trade based on global society-based comparative production advantages

Free trade based on global society-based comparative production advantages:

Global economic considerations dictate that national currencies should be consigned to history in the medium term and that a single global currency should be introduced. This would not only simplify the administration of global trade but also erode the basis of currency speculation.

Internationally valid and stringent trade regulations and norms must be worked out, and their implementation must be monitored and secured, which progressively reorient the production of goods worldwide to parameters of global comparative production advantages to be defined that are not tied to profit maximisation. Among the most important of these parameters would be: environmental sustainability, climatic factors, soil fertility and topographical factors, strategic decisions on trade and production concerning production sites geared to optimising distribution and transportation, optimisation of energy use, as well as the need to create sources of income for disadvantaged social groups or those in economically poor regions.