Who decides the strength? Like, why isn’t there one international unit and things just cost more/less in other countries?
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> Who decides the strength?
The market, supply and demand. The currency is worth as much as people are willing to trade for them.
> Like, why isn’t there one international unit and things just cost more/less in other countries?
Because countries prefer to create their own currencies and maintain control over them, as it provides a powerful control over their local economy. In a hypothetical universal world currency who would be in charge of making more units? Whichever country could do that would rule the world, and if everyone could do it then anyone could rob everyone else blind.
It simply won’t work with independent countries.
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