The article discusses the idea of having a single global currency managed by a global central bank to replace the current complex foreign exchange system. By doing this, it is estimated that annual transaction costs of $400 billion could be eliminated, worldwide asset values could increase by$36 trillion, and global GDP could increase by $9 trillion. This change could also eliminate currency imbalances, prevent currency crises, and eliminate the need for foreign exchange reserves, saving approximately$470 billion annually. The concept of a single global currency is seen as a realistic goal based on the success of existing monetary unions like the eurozone.