Global Financemagazine editor Andrea Fiano's message to readers about what to expect in this month's issue.
July/August 2018 | VOL. 32 NO. 7
Trade tensions and their possible consequences seem to dominate the summer months in advanced and developing economies. They are certainly a concern in large parts of Asia and in the emerging markets, not just in North America and Western Europe. Writing days after a historic election in Mexico, which coincides with major political change in the country, one cannot help but wonder what will happen now to the negotiations over NAFTA.
At the same time, General Motors’ warning to the Trump administration that duties on auto imports will lead to a “smaller GM” suggests that the corporate world seeks a different approach to trade policy. It hints at growing disagreement between the business community and political leadership in several countries. In the US, the Chamber of Commerce recently pointed out that the new tariffs on imports “have pushed us to the brink of a global trade war” that endangers millions of jobs. Regulatory and political uncertainty on trade could certainly affect growth in the medium and long terms, as several multilateral organizations have recently warned, and derail or at least curtail the current phase of global growth.
While trade is a hot current topic, our magazine also deals with other issues of ongoing significance to our readers. Dedicating a deep analysis to the future of the big auditors and possible changes to their role means recognizing that the corporate auditing problem requires major regulatory scrutiny—and maybe also new rules and global coordination.
This issue features two special sections focusing on important areas of coverage: economic prospects for Gulf countries; and the upcoming Sibos meeting in Sydney, Australia.
The first looks at economic prospects and growth of the GCC, including critical issues like oil prices, economic diversification and foreign direct investment. Sibos, which we often think of as a kind of Olympic Games of transaction banking, represents an opportunity to discuss and showcase all the new initiatives, platforms and solutions in the industry, and also look at host-country Australia and its financial scene.
No signs of slowdown this summer!