ch02_2 - 2-1Butler / Multinational FinanceChapter 2 World...

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Unformatted text preview: 2-1Butler / Multinational FinanceChapter 2 World Trade and the International Monetary SystemChapter 2Chapter 2World Trade and the World Trade and the International Monetary SystemInternational Monetary SystemLearning objectivesIntegration of the worlds markets for goods, services, and financial instrumentsBalance-of-payments statisticsExchange rate systems Fixed vs floating, and everything in betweenRecent history of international exchange rates Recent currency crises The evolving role of the IMF2-2Butler / Multinational FinanceChapter 2 World Trade and the International Monetary SystemIntegration of global markets for goods & servicesGlobal trend toward free-market economies; particularly the industrialization of the Pacific Rim1991 breakup of the Soviet Union; the reunification of Germany; and the migration of central and eastern European countries toward the European Union 1995 creation of the World Trade Organization (WTO)Chinas emergence in international markets, Hong Kongs 1997 return to China, and Chinas 2001 entry into the WTO1999 creation of the euro and its adoption by an expanding set of European countries Integration of the worlds marketsBalance-of-payments statisticsExchange rate systemsRecent history of international exchange ratesRecent market events U.S. merchandise tradeIntegration of financial marketsThe Bretton Woods Agreement 2-3Butler / Multinational FinanceChapter 2 World Trade and the International Monetary System-1000100020003000196019701980199020002010Trade deficitExportsImportsU.S. merchandise tradeIntegration of the worlds marketsBalance-of-payments statisticsExchange rate systemsRecent history of international exchange ratesRecent market eventsU.S. merchandise trade Integration of financial marketsThe Bretton Woods Agreement 2-4Butler / Multinational FinanceChapter 2 World Trade and the International Monetary SystemIntegration of financial marketsAn increase in cross-border financingIncreasingly interdependent national financial markets, including cooperative linkages among securities exchangesAn increasing number of cross-border mergers, acquisitions, and joint venturesIntegration of the worlds marketsBalance-of-payments statisticsExchange rate systemsRecent history of international exchange ratesRecent market eventsU.S. merchandise tradeIntegration of financial markets The Bretton Woods Agreement 2-5Butler / Multinational FinanceChapter 2 World Trade and the International Monetary SystemThe Bretton Woods AgreementWorld Bank- which now includes-International Bank for Reconstruction and Development-International Development Association-International Finance Corporation-Multilateral Investment Guarantee Agency-Intl Centre for Settlement of Investment DisputesInternational Monetary Fund (IMF)-Responsible for ensuring the stability of the international financial system-Compiles balance-of-payments statisticsRecent market eventsU.S. merchandise tradeU....
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ch02_2 - 2-1Butler / Multinational FinanceChapter 2 World...

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