Wednesday, October 01, 2003

I've been asked by a professional body for Legal firms to speak at a conference later in the month about the 'Impact of Technology on Globalisation'. Globalisation is a hot subject at the moment and has been pet subject of mine for sometime and there are simply hundreds of books and web sites dedicated to the subject, some with extreme opinions on both sides. But every now and again you stumble on something that simply blows you away. $1.5 trillion ($1500 million) changes hands on the global currency market on a daily basis. That is a huge number which we can't comprehend but to put it in some perspective the annual global trade in merchandise and services is about $6.5 trillon, the equivalent of 4.3 days trading on the currency markets. Government reserves in currency is about $1.6 trillion or just over a days worth traded on the forex markets. Think about that for a moment. Dunno about you but I find it a little worrying...

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