Zhang Lihua prepares Shandong jianbing at a small restaurant in the eastern suburbs of Beijing. Small businesses make up almost 90 per cent of global firms and the majority of employment, but their access to global credit and markets will remain limited without greater interoperability in trade finance systems. Photo: Tom Wang
Zhang Lihua prepares Shandong jianbing at a small restaurant in the eastern suburbs of Beijing. Small businesses make up almost 90 per cent of global firms and the majority of employment, but their access to global credit and markets will remain limited without greater interoperability in trade finance systems. Photo: Tom Wang
Victor Fung
Opinion

Opinion

Macroscope by Victor Fung, Bob Sternfels and Marcus Wallenberg

How small firms will benefit from simpler, integrated trade finance systems

  • Micro, small and medium-sized firms make up the backbone of the world economy but struggle to gain access to financing and global markets
  • The solution is to simplify processes and integrate isolated systems to help such firms access increasingly complex trade and supply chains

Zhang Lihua prepares Shandong jianbing at a small restaurant in the eastern suburbs of Beijing. Small businesses make up almost 90 per cent of global firms and the majority of employment, but their access to global credit and markets will remain limited without greater interoperability in trade finance systems. Photo: Tom Wang
Zhang Lihua prepares Shandong jianbing at a small restaurant in the eastern suburbs of Beijing. Small businesses make up almost 90 per cent of global firms and the majority of employment, but their access to global credit and markets will remain limited without greater interoperability in trade finance systems. Photo: Tom Wang
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