Global financial system

The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets. In the late 1800s, world migration and communication technology facilitated unprecedented growth in international trade and investment. At the onset of World War I, trade contracted as foreign exchange markets became paralyzed by money market illiquidity. Countries sought to defend against external shocks with protectionist policies and trade virtually halted by 1933, worsening the effects of the global Great Depression until a series of reciprocal trade agreements slowly reduced tariffs worldwide. Efforts to revamp the international monetary system after World War II improved exchange rate stability, fostering record growth in global finance.

Latest News for: Global financial system


Visiting hockey team's bus involved in fatal crash in Shreveport

The Moore County News-Press 14 Dec 2019
SHREVEPORT, La ... The accident occurred near the intersection of East 70th Street and Gilbert Drive in Shreveport.�� ... Crossroads Systems Reports Fiscal Fourth Quarter and Fiscal Year 2019 Financial Results. Global CEOs Who Pledged to Advance Women Are Making Progress ... .......

This Week in Bitcoin: $8 Billion BTC Trust and Maximalists Misbehaving

Bitcoin 14 Dec 2019
“The governments of these countries are herding their citizens into the digital panopticon that is the current global financial system so that they can milk them for all of that sweet sweet tax money.” In related news, we covered Italians’ love of cash and growing appreciation for crypto....

Beijing’s legal influence triggers worry in HK financial sector

Asahi News 13 Dec 2019
Hong Kong's vaunted rule of law is widely seen as a major factor for global financial institutions who make the former British colony their regional home and using it as their main trade and other dispute resolution center ... Senior executives at global financial firms have ......

Beijing's legal influence triggers disquiet in Hong Kong financial sector

Yahoo Daily News 13 Dec 2019
Hong Kong's vaunted rule of law is widely seen as a major factor for global financial institutions who make the former British colony their regional home and using it as their main trade and other dispute resolution centre ... Senior executives at global financial firms have ......

Basel Committee Seeking Global Crypto Standard

Bitcoinist 13 Dec 2019
The BCBS, an international body that has central banks as stakeholders, wants a global standard to approach cryptocurrencies and blockchain-based assets ... However, the committee, which is related to the Bank for International Settlements (BIS), said that the market was still small in comparison to the global financial system....

A Decade of Trying and Yuan Trading Has Barely Scratched Dollar

Canada Dot Com 13 Dec 2019
Should Beijing go further and insist on oil imports being paid in yuan, that could help lead to a “turbocharging” of the currency in the global financial system, Mansoor Mohi-uddin, a Singapore-based senior macro strategist at NatWest, wrote in a note this month....

The Week Ahead: Working to avoid a rerun

Lebanon Express 13 Dec 2019
The repo (short for repurchase) market is a $2 trillion-plus part of the inner workings of the global financial system ... Cracks in this obscure part of the financial system may seem far afield for long-term investors ... Financial journalist Tom Hudson hosts "The Sunshine Economy" on WLRN-FM in Miami, where he is the vice president of news....

Global Financial System of the Future Needs State-Backed Cryptocurrencies

Coin Idol 13 Dec 2019
The Balance Between the Various Payment Systems ... The best solution that minimizes the "injured in the field" probably lies not in the elimination of cash or in the total disintermediation of banks, but in a "3-way" financial system where the various payment systems coexist in balance, reconciling everyone's needs economic operators....

The insatiable human greed of political leaders

Business Line 13 Dec 2019
Globally, in their quest for money, political leaders have wrecked up the financial system, destroyed the value of money, which is the foundation of a capitalist society, and created innumerable conflicts which have displaced millions and generated hatred ... Much of the extra investment is borrowed, resulting in an unsustainable level of global debt....

ING Bank Working on a Crypto Custody Project for Digital Assets

Inside Bitcoins 13 Dec 2019
Wall Street giant JP Morgan is already using a homegrown token to handle transactions within its globalized system. A number of financial firms believe that traditional assets like equities and bonds could be tokenized using blockchains and then be traded on distributed ledgers ... It is unclear whether ING’s system has gone beyond the testing phase....

Wither Britain

Dissident Voice 13 Dec 2019
We also have to remember that following the collapse of the global financial system during the last economic crisis, Cameron/Osborne initiated a series of austerity policies that were partially mandated by the EU and that cut far deeper than anything Thatcher at her very worst implemented....

David Kelly: Time to Tweak Your Portfolio

Barrons 13 Dec 2019
So says David Kelly, chief global strategist at J.P ... The corporate debt bubble, such as it is, is not nearly as big as the consumer debt bubble or the mortgage debt bubble before the 2007 - 2009 global financial crisis. But also, the thing that caused a huge recession then was the instability of the financial system....

The general election result proves it’s time for a second Scottish referendum

Metro UK 13 Dec 2019
Advertisement ... Our food and drink sector is globally successful. We have world-leading universities, an independent legal system, and well-established financial institutions ... Of course independence would bring financial challenges – but taking responsibility for our future is the grown up response to the powerlessness of being governed by Westminster....