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The Principal Cause Of The Financial Crisis: Corporate Governance Failure. Financial Crisis of 2007-2008.
Pages 12 (3012 words)
The development of post modern society is mainly led by effect of globalization that has also influence entire human activities and their lifestyles. In case of trade and business, the world economies have experienced tremendous growth.
In case of trade and business, the world economies have experienced tremendous growth. The policy makers realized the necessity of interdependence and co-operation in encouraging the international trade. International trade has a number of advantages like exchanges of necessary resources like capital, human resources, technology etc. The emergence of international trade necessitates the role of financial institution at global platform and now, the world economies engaged in international trade relation have the opportunity of share their risks with other economies. However, this can also be viewed as major disadvantage of international trade as crisis in the major economies soon spread over other related economies. This can be explained thoroughly using the latest evidence of the global Financial Crisis of 2008 (Mullerat, p.135-137). The Financial Crisis of 2008 was emerged in Western first world countries like United States, Canada, the European countries United Kingdom, Germany, Span, France etc and the influence of crisis in these economies soon impacted the entire international market directly as well as indirectly. There is a debate over the origin of this financial crisis and major reason behind this crisis. ...
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