Trade Finance Survey 2017: Tough times in trade finance

The world seems to be turning away from globalization and towards protectionism. Yet despite this challenging environment for trade, the bankers who finance it remain surprisingly upbeat.

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Last year was characterized by the rising volume of protectionist talk and by the biggest threat to the European Union since its inception. 

Donald Trump’s election victory owed much to his promise to tear up the North American Free Trade Agreement and the Trans Pacific Partnership (TPP). The UK voted to reject the EU’s march towards ever-closer union. The Italians rejected a proposed constitutional change that many in the financial sector saw as vital to restore growth in the country.

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