Global economy is as same as a boat waving and fluctuating among the tides and waves of an ocean in this turmoil international situation, which is characterized by wars her and there, peace process taking place in every part of this world, environmental issue and its implication with the emissions of industry coupled with the depletion of natural resources, the international alliances such as the European Union, eastern countries after the previous soviet Union and its system, the African Union, the middle east countries and their geographical situation and ideologies, and many other factors to mention. All the above and what is related conform a complex formula with uncountable and changeable factors to figure out. This burden of our equation is lying on the shoulders of the future leaders of the global economy as well as the politicians on the other hand. Let us read together the history about the human kind in brief with his effect on the rhythm of the economical evolution. Simply, the first merchandize’s were dealt with exchange of other materialised goods among peoples, and this continued until the age of Roman s empire and Persian umpire, where as, the Romans were the first who invented the first coins to deal with global trade. Then, the evolution of economical exchange took another phase, until the Arab, Turkish empires by using different kind of metals to shape coins, and later on, the Middle ages industrial revolution influenced the international society with a new monetary system, as well, the old systems are not capable to deal with the newer economical issues.
The Research paper on Ltcm’s Impact On The International Financial System
LONG TERM CAPITAL MANAGEMENT L. P. A CASE STUDY Rarely if ever has a single firm had as tremendous an impact on international economics as Long Term Capital Management L. P.(LTCM). This report describes the company itself and its investment strategies, with particular attention paid to its international influence and importance. LTCMs activities in the financial world ultimately caused a near- ...
Consequently, we are approaching another era followed this revolution. The industry progressed side by side with science proceedings and fertilized wealth to some countries as much as poverty to other countries which led to fighting and two major world wars, consequently, a dangler relationship took place among nations and countries until th birth of United Nation, which helped to gap the chaos, and in between a new financial system was established between the west and the east. The new economical systems are the capitalism and the socialism, which created a new challenge to business people in the international trade due to the diversified ideology, the monetary system, the exchange rate, and many other factors to consider when to deal with any transaction across borders. Later on the technological achievements in electronics and the communications brought the new systems of transactions including such as the credit cards with all their types, the wire transfer, cell phones, Faxes, e-mails and possibly new forms will be invented.
As we observe above, the complexities of the economical issues are proceeding in parallel lines with the technology progress, and that requires new innovations to be created and used by the business people. The arena of goods exchange is not existed any more. As a result the academics have an immense load of responsibility to study, research, monitor, and devise a new theories to handle the present as well the future economical problems. In conclusion, business schools are the expected candle to illuminate the darkness and the way of future leaders to come.
I strongly believe your Sloan school is the mechanism to launch and provide me with the suitable means to achieve my goals in becoming one of the future leaders to come, and to handle the sacrosanct mission that Sloan promotes.
