Though there are serious threats to global trade from potential trade wars, it continues to flow. Like clean drinking water, trade and the trade finance that secures it, are crucial to the health of the global economy and to that of individual nations. How can trade and trade finance be nurtured, especially in the face of costs and tensions that threaten to turn off the tap?
World Trade Organization
Doing business around the world has always involved risk, but today risks seem to be multiplying, influencing the willingness of businesses to branch out. On top of slow growth and deflation, 2017 could be a challenging year for the global economy—and yet risk-management strategies such as insurance can alleviate the impact.
Blockchain, the technology underlying bitcoin, is poised to enter the mainstream with about 30 medium and large banks planning to put it into use by 2017. Applications range from reference data (real-time sharing of information about transactions within a bank and with external parties), retail payments, consumer lending and trade finance.
Human beings tend to believe that after hitting a bump in the road, their route will eventually go back to “normal”. But when it comes to global economic and trade growth, this assumption may lead to a complacency that ultimately allows conditions to deteriorate to levels that everyone dreads.