We need a realistic valuation that is based on irrefutable laws of nature.
The value of anything material should be defined so that it can be broken down into most basic elements defined by energy and natural resources input in producing it. A pound of meat is 1/2000 of a cow that ate X kg of smth, drank Y gallons of water, and whose owner put XY amount of energy into ‘making’ the cow into what she is now. A 1/2000 piece of meat and bones.
We also need one currency to disperse factors of valuation and minimize strategic valuation creation of currencies.
In addition, financial valuation of any material thing should be divided into three parts which should be known to all parties involved: the conditions to produce, the production process, preparation and transport. I believe this would indeed spur development into the direction of local production. One does need to keep in mind though, that no country should depend solely on themselves for any life-critical item or service. If a natural disaster or war hits one country, and this country is not huge, chances are they would be helpless.