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The advantages and disadvantages of Canada adopting the American Dollar as its national currency.
In an age of increasing globalization, unlike any before, countries feel more pressure to open all aspects of their economies. There is a large movement towards regionalism in the form of national free trade associations. There is money to make, markets to tap and trade alliances to form. No one wants to be left behind in this revolution. Countries feel the pressure to either join the revolution or fall farther behind developmentally. Dollarization, which is when a foreign country adopts the United States currency as its main form of currency, is at the intersection of these pressures.
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