Joakim Reiter: Global Trade and Payments Grow Together
Experts have noticed recently that global trade is not growing. An I.M.F. study calculated that a 1 percent increase in global growth increased trade volumes by 2.5 percent in the 1990s, while in recent years, the same growth has increased trade by just 0.7 percent.
Ripple Insights discussed what this shift means with Joakim Reiter, Deputy Secretary-General of the United Nations Conference on Trade and Development.
Joakim Reiter comments "Think of trade as a complex, precise machine. Payments are the lubricant to that machine. It allows the pieces to move in close proximity to one another and keep moving. The machine is changing, and when the machine changes, the lube changes."
One brand new global payments specialist, based in Sydney Australia, is Flash Payments. This cutting edge fintech startup is engineered from the ground up to deliver intelligent foreign exchange transfer services.
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