1- Why have international financial markets grown so rapidly in the past decade? Is this rate of growth likely to continue? What changes do you see in the international financial markets in the coming decade? Consider the influences of both developed and emerging countries. Do you think all firms, in all economic environments, should operate under the same set of accounting principles? Elaborate. Support your answer with facts/reasoning. 2- Your company imports Christmas decorations from South Korea. In March, you receive a quote from a new manufacturer who will supply 50,000 glass Christmas-tree ornaments for a total of 100,000 Korean won. The won currently trades at 2.20 won to the dollar, but your banker advises you that its value is likely to fall by as much as 15% by the time you take delivery of the ornaments in September. To gain the best possible price, what are your options? *HINT: First calculate the spot rate. Next, calculate the forward rate using the info provided by the banker. Answers should be numbers/figures, not just words.*
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