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Global Finance Environment - Essay Example
Author : laurynlowe
Finance & Accounting
Pages 5 (1255 words)
Global Finance Environment 14th, September, 2012 Global Finance Environment Introduction Undeniably, technology has played an important role in bringing up the world together, enhancing international communication and globalization…
Other than trade, globalization has affected the social realm through change in social relations and customs change in consumption patterns and lifestyles, and through important domain values like religion. Additionally, globalisation has affected the political ream through the widespread of multiparty democracies, pluralism, free elections, human rights, parliamentary systems, and independent judiciaries. This paper will focus on the global finance environment addressing some main drivers of globalisation, risks associated with globalisation, and the importance of cultural sensitivity to global finance issues. OECD statistics reveal an increasing trend in global trade patterns. Driving Forces of Globalisation The first main driver to globalisation is advancement in technology in the fields of ICT and transportation, which has reduced the costs of trade. Internet enables global interconnectivity where people can interact and pass information regardless of the physical proximity. With the interconnectivity, firms who have reached their full-scale production in their home country prefer to cross borders and secure other smaller companies. They do this through amalgamations, joint ventures, or partnerships. ...
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