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It is easy to forget about trade finance, what with the eurozone crisis and efforts to simultaneously rein in banks’ excesses while pushing them to lend more occupying the minds of politicians and central bankers worldwide.
Yet the impact of those challenges on this crucial component of the global financial system could be sufficient to undermine efforts to restore economic confidence.
World trade is under pressure. In September, the World Trade Organization downgraded its growth expectations for trade volumes for 2011 to 5.8%,
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