Moreover, Shanghai has huge potential in development of financial services, given its advantage as a talent pool, its appeals to foreignfunded institutions in payment and settlement businesses including third-party payment, bank card services and rating businesses, and vast space for business development.
The adoption of such measures by a number of countries could result in a greater concentration of risk in national economies and ultimately undermine global economic growth. Conclusion The global reform agenda, which is critical to financial stability across countries, will need, by its very nature, to be underpinned by global cooperation.