According to the World Trade Organisation, it’s not just the US and China that are throwing up barricades. Treasurers need to be aware protectionism is on the rise everywhere.
Since the central bank dramatically changed the way it values the dong, treasurers have been warned to become proactive about monitoring and managing new risks associated with it.
With the help of ANZ bank, China’s largest cereal processor and trader has undertaken a bank payment obligation. It also marks the first deal of its type involving an Australian bank.