Describe the role of offshore banking, International Economics

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Q. Describe the role of offshore banking and of offshore currency (eurocurrencies) trading.

Answer: Both have mushroomed because of increased international trade increased multinational corporations and globalization. Students should as well emphasize banks' desire to escape domestic government regulations and taxes on financial activities and political concerns from holding deposits in the country that issued them which increases default concerns on the part of the foreign investors and so on.


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