Recent development in the currency market is the introduction of plastic notes. It was first initiated by Australia and then copied by many other countries successfully including New Zealand, Vietnam, Singapore, Chile etc. Plastic notes are known to have a longer life and reduces the cost of printing new notes very often by the respective governments. Some people argue that plastic notes are like monopoly notes that look like gaming notes and some smear that traditional paper notes are the real ones.
We have also seen that these plastic notes are hard to fake and are widely being adopted by many other economies. Saying that, it wouldn't be long for anti-social elements to find a way to fake these notes as well. One thing we hear very often these days is that USA should adopt plastic notes as well in order to replace their widely disgraced $1 notes from public usage. Though it is getting a wide popularity, the US government is still hesitant to put its foot forward and try to change to plastic notes any sooner.
In my opinion, plastic notes are the way to future and my kind advice to USA is catch up fast with the world or you will be left alone. Just to mention here that India has recently announced that it will be introducing plastic notes soon. Seeing this we are left to wonder what is USA still doing out there?
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