Annotation
International trade allows countries to expand their markets for both goods and services that otherwise may not have been available domestically. As a result of international trade, the market contains greater competition, and therefore more competitive prices, which brings a cheaper product home to the consumer. International trade is exchange of capital, goods, and services across international borders or territories. In most countries, it represents a significant share of gross domestic product (GDP). Allowing foreign financial institutions access to domestic markets encourages cross-border trade and investment. It reduces complexity in correspondent banking networks and enables businesses to use global payment systems to pay international suppliers and receive payments from overseas customers. Opening financial borders also enables businesses to raise funds on international capital markets, driving down their cost of funding. Financial integration and access to global financial markets also attracts Foreign direct investment, a key driver of business growth and economic prosperity. The global financial system is the financial system consisting of institutions and regulators that performance on the international level, as opposed to those that performance on a national or regional level. The main players are the global institutions, such as International Monetary Fund and Bank for International Settlements, national agencies and government departments, e.g., central banks and finance ministries, and private institutions acting on the global scale, e.g., banks and hedge funds. This book would prove to be a great help to the exporters, Importers and MBA students of International Trade.
