However, it is likely that additional funding from Asia and elsewhere might be needed to ensure that the region’s economic expansion is not unnecessarily hampered. In Europe, we are currently pushing towards a capital markets union that aims at both diversifying funding sources for the real economy and boosting risk sharing among investors. Is it thus a blueprint for Asia?
I don’t think so, at least not one on one. However, I firmly believe that the lessons we learn from this project may be of interest for the Asian economies as well. BIS central bankers’ speeches  3  I have highlighted some components of the capital markets union which I think are particularly important.