What is GDP and how is it measured?

The presidency, a position responsible for planning ministerial meetings and the annual summit, rotates among the member states. When the group was formed in 1975, it was known as the G6, comprising France, West Germany, Italy, Japan, the United Kingdom, and the United States. The G6 was intended to provide major industrial powers of the […]

Letter of Credit LC Meaning, Process & Role In International Trade

As the business applying for the letter of credit, the applicant will likely pay a fee to obtain the letter (often, a percentage of the amount the letter of credit is for). In a letter of credit, the issuing bank affirms that a purchaser (in this case, a client or a customer) will pay for […]