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Essay / Research Paper Abstract
A 3 page paper discussing the growth and benefits of financial globalization. Though financial globalization has helped worldwide economic conditions overall, there are areas of the world that remain in abject poverty and virtually untouchable in the near future. Consistently, the world’s poorest nations are also the world’s most corrupt. The greatest difficulty financial globalization faces in extending prosperity to other areas of the world in the future will be overcoming such corruption. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSintlBizGlobFin.rtf
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Unformatted sample text from the term paper:
of globalization of business is strong, and it can be highly rewarding for those organizations that approach it correctly and cautiously. The growth of international financial markets has increased
along with rates of globalization, benefiting multinational organizations in their efforts to grow and expand their businesses. Globalization of business is nothing new;
trade between countries occurred even between the ancient Greeks and Romans, before the Roman empire began to develop. The British went to war - twice - to ensure it
could trade Indian opium for Chinas tea and so leave its currency at home. That was mere trade, however. The true globalization of recent years likely has changed
business for all time. Growth of International Financial Markets Several years ago, Britains The Economist reported that in the late 1980s, "about $190
billion passed through the hands of currency traders in New York, London and Tokyo every day. By 1995 daily turnover had reached almost $1.2 trillion" (Capital goes global, 1997; p.
87). Private capital movement increased at much the same rate. In 1990, about $50 billion in private capital flowing into emerging markets; by 1996 that amount had increased
to $336 billion (Capital goes global, 1997). That trend slowed some after the advent of the Asian currency crisis in 1997, but it slowly recovered to begin its inexorable
growth once again. The effects of the slowdown engendered by the Asian currency crisis can be seen in the report of Cetina and
Bruegger (2002), who speak to the growth of foreign exchange markets: With an average daily turnover in traditional global foreign exchange instruments of $1.5 trillion in April 1998,
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