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International Business Basics by Scott L. Girard

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Moving Money Across Borders

Managing money globally can be tricky for individuals;managing a business’s money internationally can beeven trickier… and more expensive.

HERE’S A QUESTION for you. How should you move your business’s money across national borders for a transaction?

Say, for instance, you own a T-shirt screen printing shop in Seattle, Washington in the US, and you’ve decided to start purchasing your blank T-shirts in bulk from China. At high volume, the Chinese just couldn’t be beat for blank T-shirt pricing. Once you get your truckloads of T-shirts, you’ll print catchy stuff on them, and sell them all over town. You and your Chinese source have already done all the preliminary talks and signed a contract, and as soon as they get ...

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