The economy of the Czech Republic is a developed export-oriented social market economy based in services, manufacturing, and innovation that maintains a high-income welfare state and the European social model. The Czech Republic participates in the European Single Market as a member of the European Union, and is therefore a part of the economy of the European Union. It uses its own currency, the Czech koruna, instead of the euro. It is a member of the Organisation for Economic Co-operation and Development (OECD). The Czech Republic ranks 16th in inequality-adjusted human development and 24th in World Bank Human Capital Index, ahead of countries such as the United States, the United Kingdom or France. It was described by The Guardian as "one of Europe's most flourishing economies".
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic action 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.
This is a list of international trade topics.
Financial services are economic services tied to finance provided by financial institutions. Financial services encompass a broad range of service sector activities, especially as concerns financial management and consumer finance.
Trade justice is a campaign by non-governmental organisations, plus efforts by other actors, to change the rules and practices of world trade in order to promote fairness. These organizations include consumer groups, trade unions, faith groups, aid agencies and environmental groups.
Economic forecasting is the process of making predictions about the economy. Forecasts can be carried out at a high level of aggregation—for example for GDP, inflation, unemployment or the fiscal deficit—or at a more disaggregated level, for specific sectors of the economy or even specific firms. Economic forecasting is a measure to find out the future prosperity of a pattern of investment and is the key activity in economic analysis. Many institutions engage in economic forecasting: national governments, banks and central banks, consultants and private sector entities such as think-tanks, companies and international organizations such as the International Monetary Fund, World Bank and the OECD. A broad range of forecasts are collected and compiled by "Consensus Economics". Some forecasts are produced annually, but many are updated more frequently.
Pascal Lamy is a French political consultant and businessman. He was the Director-General of the World Trade Organization (WTO) from 1 September 2005 to 1 September 2013 for 8 years. In April 2009, WTO members reappointed Lamy for a second 4-year term, beginning on 1 September 2009. He was then succeeded by Roberto Azevêdo. Pascal Lamy was also European Commissioner for Trade for 5 years, from 13 September 1999 to 22 November 2004 and is an advisor for the transatlantic think-tank European Horizons, as well as currently serving as the Honorary President of the Paris-based think tank, Notre Europe.
An export credit agency or investment insurance agency is a private or quasi-governmental institution that acts as an intermediary between national governments and exporters to issue export insurance solutions and guarantees for financing. The financing can take the form of credits or credit insurance and guarantees or both, depending on the mandate the ECA has been given by its government. ECAs can also offer credit or cover on their own account. This does not differ from normal banking activities. Some agencies are government-sponsored, others private, and others a combination of the two.
Compagnie Française d'Assurance pour le Commerce Extérieur (Coface) is a credit insurer that operates worldwide' in addition to offering debt collection services, factoring and business information, and bonds.
Ngozi Okonjo-Iweala is a Nigerian-American economist, who has been serving as the Director-General of the World Trade Organization since March 2021. She is the first woman and first African to lead the World Trade Organization as Director-General.
Trade credit insurance, business credit insurance, export credit insurance, or credit insurance is a type of insurance policy and a risk management product offered by private insurance companies and governmental export credit agencies to business entities wishing to protect their accounts receivable from loss due to credit risks such as protracted default, insolvency or bankruptcy. This insurance product is a type of property and casualty insurance, and should not be confused with such products as credit life or credit disability insurance, which individuals obtain to protect against the risk of loss of income needed to pay debts. Trade credit insurance can include a component of political risk insurance which is offered by the same insurers to insure the risk of non-payment by foreign buyers due to currency issues, political unrest, expropriation etc.
A Hermes cover is an export credit guarantee (ECG) by the German Federal Government.
Hollard Group is a privately owned insurance group based in South Africa that operates under two insurance licences: short term and life. The company was established in 1980 by Robert Enthoven, and the Enthoven family retains the majority share, locally through The Enthoven Family Trust (EFT) and internationally through Capricorn Ventures International (CVI).
Rufus Hawkins Yerxa is an American lawyer and former U.S. government and international official. He is currently a Senior Advisor with the global consulting firm McClarty Associates. He served as Deputy United States Trade Representative during the George H.W. Bush and Clinton Administrations, and served for 11 years as Deputy Director General of the World Trade Organization (WTO). From 2016 to 2021 he was President of the National Foreign Trade Council.
Atradius provides trade credit insurance, surety and collections services worldwide through a presence in more than 50 countries around the globe. It is the credit insurance arm of Grupo Catalana Occidente (GCO.MC). Credit insurance, bonding and collections products help protect companies throughout the world from payment risks associated with selling products and services on trade credit. In 2023 the company had revenues of EUR 2.5 billion. The company is rated ‘A (excellent) stable outlook’ by AM Best and 'A1, outlook stable’ by Moody's.
The Multilateral Investment Guarantee Agency (MIGA) is an international financial institution which offers political risk insurance and credit enhancement guarantees. These guarantees help investors protect foreign direct investments against political and non-commercial risks in developing countries. MIGA is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States.
The Export–Import Bank of the Republic of China (Chexim) is a state-owned enterprise of the Ministry of Finance of Republic of China. It primarily offers credit insurance for foreign investment originating in Taiwan. The company also insures against political risk such as nationalization, breach of contract, social unrest or war. Chexim is a member of Berne Union.
China Export & Credit Insurance Corporation, commonly known as Sinosure, is a major Chinese state owned enterprise (SOE) under the administration of Ministry of Finance of the People's Republic of China serving as the provider of export credit insurance, in particular coverage for the export of high-value added goods in China.
The African Trade and Investment Development Insurance (ATIDI) is an investment, trade and political risk-mitigation institution on the African continent intended to provide insurance against political and commercial risks in order to attract foreign direct investment to the region. ATIDI was founded in 2001 by seven COMESA countries, with technical and financial backing of The World Bank.
Trade finance technology refers to the use of technology, innovation, and software to support and digitally transform the trade finance industry. TradeTech can be seen as a subcategory under FinTech. As digital information becomes more readily accessible, convenient, and available, the trade finance industry is being gradually modernised and digitally transformed. TradeTech puts a particular emphasis on the application of technology and software to modernise trade finance.
