Do you know what’s global finance?
Let me interest you with a statistic to introduce you to our insight for today.
According to Global Financial Magazine and the World Bank, 1.7 billion adults do not have access to high-quality, affordable financial services and insurance.
What do you think does this say about the global financial level of our country?
And yes you guessed it correct, our topic discussed today is the role of finance in the global economy.
Going back to the previous statistic, we can gain an insight on how the global financial level of our globe looks like, showing us the clear disparity and inequality in the available finances. Why is this relevant? As we all know, the global economy is a result of the wide-scale globalisation that had occurred world-wide, bringing businesses, economies and countries together in deeper integration. Since we use finance for all transactions it includes exchange rates, trading as well as global investments. This even though happening every single day, becomes most relevant in times of crisis like the 2008 financial crisis or the more recent example, The pandemic. Even though we’ve recovered quicker from the pandemic, its effects will remain and affect our financial systems for long now.
Global finance also has its perks, it facilitates monetary support for businesses across countries, boosting the economy as well. With the volatility in this market, global finance becomes a tricky yet really intriguing domain to learn, with endless job opportunities since its importance only grows as the global economy does.
said’ Mr. Francis Chen
Registered Financial Consultant (RFC), M.B.A.
This Abstract is a part of EIU-Paris weekly Expert quotes on various trending topics