Playing By The Rules:regulation

摘要

The clamour for a new global regulatory regime cannot be ignored but the temptation to give in to unilateralism and self-interest must be resisted. When the world's financial system suffers a near-fatal heart attack, how should it be rehabilitated? This is the question confronting governments and regulators worldwide as the global economy lurches from one disaster to another. Finding an answer to this question will be an unenviable chore for these parties, not least because few onlookers are likely to be impressed when they do. But it is also a task fast becoming overwhelmed by the politics of protectionism, as regulators move to promote their existing powerbases and governments adopt stances that hint of a creeping financial nationalism.