When news of a peace agreement between Portugal and the Netherlands reached Asia in , Goa was the only remaining Portuguese city on the west coast. Low profit margins in themselves do not explain the deterioration of revenues. And it was in Amsterdam that the important institutional innovations such as publicly traded companies, transnational corporations, capital markets including bond markets and stock markets , central banking system, investment banking system, and investment funds mutual funds were systematically operated for the first time in history...
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