国际金融课件.jsp.pptVIP

International Financial Business Wang Shulin International Financial Business International Monetary System International Settlements Foreign Exchange Financial derivatives Markets Grades _ class attendance 10% one practice 10% _ one midterm 30% _ final exam 50% International Monetary System 1.1 Integration of the World’s Markets 1.2 Balance-of-Payments 1.3 A Brief History of the International Monetary System 1.4 Exchange Rate Systems 1.5 Summary Integration of the world’s marketsfor goods and services Creation of the World Trade Organization (WTO) Global trend toward free-market economies Introduction of the euro U.S. merchandise trade Integration of financial markets An increase in cross-border financing Increasingly interdependent national financial markets An increasing number of cross-border mergers, acquisitions, and joint ventures An increasing number of cooperative linkages among securities Balance of payments 2. BOP Statement （国际收支平衡表） BOP Statement is a statistical statement that systematically summarizes, for a specific period (typically a year or quarter), the economic transactions of an economy with the rest of the world. balance of payments In economics, there are two primary components of the balance of payments, namely current account and capital account The U.S. balance of payments 1992 2002 Goods: Exports 440 683 Goods: Imports -537 -1167 Trade Balance -97 -484 Services: Credit 177 289 Services: Debit -116 -240 Balance on Goods Services -36 -436 Income: Credit 132 245 Income: Debit -109 -257 Balance on Goods, Services, Income -14 -447 Current transfers: Net -35 -56 Current Account -49 -503 Source: U.S. Bureau of Economic Analysis () The U.S. balance of payments 1992 2002 Direct Investment Abroad -48 -124 Direct Invest from Abroad 20 30 Portfolio Investment Assets -50 -26 Portfolio Invest Liabilities 81 3