The importance of remaining respectful of others, and learned that Essay

The importance of remaining respectful of others, and learned that understanding the impact of diversity in the customer service environment is essential - Essay Example Thirdly, the foreign capital enjoyed by nations under a trading umbrella allows their entrepreneurs to import or export knowledge and technology so as to help boost productivity in their respective nations. Fourthly, financial globalization principles allows foreign entrepreneurs to undertake business in capital and banking markets hence help in boosting quality of financial services. On the contrary, financial globalization has its own drawbacks. For instance, as nations get into trade ties with global financial systems, unfavourable financial shocks in one nation may be absorbed by another in form of contagion effects which may easily drag a country’s stable economy to a catastrophe. â€Å"Globalization also poses complications on the operations of banks and other businesses as it complicates management of exterior resources and liabilities† (Cline, 2010). In an effort to manage the negative effects posed by financial globalization, governments all over the world have developed multifaceted networks with the sole purpose of averting negative financial effects posed by financial crises. The roles of such networks put forth by governments include: oversight, monetary regulation and lending. However, such interventions have rarely worked towards averting financial crises to the expectation of many