Global Financial Management
Global financial management responds to economic systems of processes that regulate the health and concert of the world economy. Every country and its business people play a significant role in the financial growth in global financial management. Therefore, every person needs to be conversant with the global finances to have a link to the stability of businesses globally (United Nations, 2019). Various challenges affect comprehensive financial management since the countries are always affected by the global financial crisis. Different states take different portions of the global business management depending on the value of the country’s finances and the stability of the economy.
My country’s choice is the United States. The two alternative countries are China and Japan. As an advantage of not choosing the two countries, their economy is always unstable. Despite having taken a more significant part of the world financial market, they cannot justify holding the superpower for the global financial market. Another advantage is that the countries are of recent experiencing economic slowdown over the last decades due to the rising of financial perils, including the low private consumption and the flagging of the trade relationships with the US (Investopedia, 2020). Further, countries like china are always experiencing trade wars which shake the global economic growth. Therefore, it was not necessary to have a country as a country of my choice.
As a disadvantage, the two countries generally play a significant role in the global financial market despite the challenges they face. They have to be considered when determining the economic stability and the ways of discovering the world’s economic growth. There are some considerations that china can be a superpower in the future if it does away with the trade wars.
Therefore, it marked disadvantage for failing to choose the country in response to the global financial management.
From the choice that I made, I believe that it is the best since the United states nation has the most significant impact on the financial economy as compared to other economies. Although the country is not the largest in the production of all the products in the world, it has a more significant influence on the products than any other country in the world.
Investopedia. (2020). The Top 20 Economies in the World. Retrieved 1 July 2020, from https://www.investopedia.com/insights/worlds-top-economies/
United Nations. (2019). World Economic Situation & Prospects for 2019. Retrieved 1 July 2020, from https://www.un.org/development/desa/dpad/publication/world-economic-situation- and-prospects-2019/
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