Government economic policy used to be subject to a system of fixed exchange rates. This world of fixed exchange rates finally fell apart in 1971 when President Richard Nixon cut the U.S. dollar from the gold standard. Since then, the global marketplace has grown at an incredible rate. Today, whether a company uses sourcing strategies, futures contracts, or barter, the need to understand and adapt to the world's financial markets will determine the success or failure of tomorrow's businesses.
