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Role of US Financial Service in US Economy

Financial industry is the vital component of U.S and the world economy. It has become the main cause for the job creation and promoting sustained economic growth and innovation. It provides businesses with new ways to lower the cost of capital, stimulates global investment trade and presents investors with broad range of financial products and services to maximize returns and minimize risk.

Mostly the U.S financial service sector requires having access to clients not only in the U.S, but in markets all around the world. This led to the increased economic growth and the job creation by providing financial services to the non-US markets.

The primary motivation of U.S financial services firms to operate in non-US markets is to follow their multinational clients and better acquainted with the markets in which they operate. They provide global financial services for a wide range of activities like corporate finance, research, fund management, risk management, etc. Access to non U.S markets, contributes a more competitive U.S economy and further strengthened the entire US economy.

As multinational clients continue to expand their business in global markets, U.S firms need to follow these clients to remain competitive. Clearly, the financial sector must have access to world capital markets to raise the lowest capital by providing the advice necessary to help a company in establishing a profitable presence in the foreign markets. As the U.S seeks to increase the economic growth and standard of living for its citizens, job creation and the ability to be competitive internationally will be critical ingredients in achieving this goal.

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