non-traded services
Dutch translation: niet-commerciële dienstverlening
| 11:55 Jul 3, 2005 |
| English to Dutch translations [PRO] Bus/Financial - Economics | |||||||
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|  Selected response from: Meturgan Hungary Local time: 04:55 | ||||||
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| 3 | niet-commerciële dienstverlening |
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2 hrs confidence: 
niet-commerciële dienstverlening Explanation: Alleen de niet-commerciële dienstverlening levert het eerste halfjaar van 2003 nog een positieve bijdrage aan de economische ontwikkeling. ... www.cbs.nl/nl/publicaties/artikelen/ algemeen/webmagazine/artikelen/2003/1265k.htm Een belangrijke vorm van niet-commerciële dienstverlening zijn diensten die gericht zijn op het bieden van gezondheids- en welzijnszorg http://www.cbs.nl/nl/cijfers/themabeschrijvingen/dienstverle... -------------------------------------------------- Note added at 8 hrs 42 mins (2005-07-03 20:37:44 GMT) -------------------------------------------------- HET IS IETS HEEL ANDERS DAN WAT IK EERST GESTELD HEB. The Structure of Banking and the Financial Services Sector One of the primary dichotomies of the financial services sector is between traded and derivative (or non-traded services). Traded goods and services are the main engine of economic growth. These are the goods and services that attract new wealth into the regional economy through exports by replacing imports (figure 3). Non-traded goods and services, on the other hand, compete with firms within the economic region. While they are not primary wealth generators, the non-traded sectors are, nevertheless, an important base for traded services and help them maintain their competitiveness. Some businesses, including some financial services, have both traded and non-traded elements. Financial services in the Toronto area are 55 percent traded and 45 percent non-traded (figure 4). Prime examples of non-traded services are sales offices for insurance and local bank branches. These offices compete with one another in providing services such as cashing cheques, withdrawing money and offering advice on financial matters. These are mainly local services that traditionally do not compete with others outside the region. In the future, however, some of these non-traded financial activities could be performed remotely through electronic means and become traded services. A substantial portion of financial services in Toronto are nationally traded and could be located elsewhere in Canada. Some back office functions of banks and the headquarters of some domestic firms could, for instance, be located outside of Toronto and still operate just as effectively. About 30 percent of all financial services are traded nationally and could become internationally traded. About 25 percent of the financial services activity in Toronto is internationally traded. Corporate finance and investment banking, for instance, are subject to intense international competition. In these areas, financial services in Toronto compete against the likes of New York, Chicago and even London. The clients for these services don\'t have to consult Toronto based banks to purchase the services they need; with modern telecommunications and air travel, they can buy similar services worldwide. Increasing global competition, deregulation and technical advancements are making it possible - indeed essential - for financial services firms to compete internationally in these areas. Over time, the proliferation of electronic banking and telephone and computer sales activities will mean that steadily growing portions of financial services will become nationally and eventually internationally traded. The presence of large, successful, internationally competitive companies in Toronto clearly benefits the region. Canadian banks have been effective international competitors for a long time, and although they are growing their global operations, the vast majority of their employees continue to work in the region\'s downtown core. The international competitiveness of the financial sector thus preserves and creates valued employment in the city. www.toronto.ca/legdocs/agendas/ council/cc/cc981001/ed2rpt/cl004.htm - 89k -------------------------------------------------- Note added at 9 hrs 2 mins (2005-07-03 20:57:42 GMT) -------------------------------------------------- Non-traded services are services where it is too costly or otherwise impractical to significantly export or import across state boundaries. www.uwex.edu/ces/cced/jrap/hirasuna1.pdf |
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