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Globalization has undoubtedly emerged as one of the leading characteristics of the contemporary world. On the one hand, it has ushered in a new and promising era marked by rapid movements of large volumes of money and the increased volume of trade and has led to a growing density of market relations resulting in faster growth and creating unprecedented new opportunities for sustainable development and poverty reduction. At the same time, it also implies increased risk, uncertainty and vulnerability because of the widely fluctuating flows of capital around the globe and unstable exchange rates. Read more...
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