More generally, although customized derivatives contracts between sophisticated counterparties will continue to be appropriate in many situations, on the margin it appears that a migration of derivatives trading toward more-standardized instruments and the increased use of well-managed central counterparties, either linked to or independent of exchanges, could have a systemic benefit.
The stock exchanges report short interest in each of their traded stocks toward the end of the month; the numbers are current as of the 15th of that month.
Cut off from the Baltic, Poland reoriented its trade toward the Black Sea.
UBS, as part of an overhaul, is shifting its focus away from risky trading toward its wealth management operations.
After about 1500, navigation declined because of reorientation of trade toward the Atlantic and political disintegration of the Rhineland.
"We've succeeded in moving the party from free trade toward fair trade," said Gerald Shea, an adviser to John Sweeney, the president of the labor federation.
Some of the shift in trade toward China comes from heightened tensions between India and Pakistan, which has hampered trade between the two countries.
"Jordan's economy has been devastated because of the lack of trade toward Syria going north," said Andrew Harper, head of the United Nations refugee agency in Jordan.
By 1911 Sydney had once again become Australia's largest city, and after World War II it benefited from a shift in Australia's trade toward North America and Asia and away from Britain.
Growth has fallen steadily over the past five years as the ruling Communist Party tries to steer away from a worn-out model based on investment and trade toward self-sustaining growth driven by domestic consumption and services.
"The APEC summit," she said, "may consolidate a major shift in American policy away from taking leadership in the world stage of trade toward a new tactic of ticking off countries one by one in bilateral talks.
