Financial systems across the world now have to modify their lending behaviour to create such buffers of liquid assets. A Quantitative Impact Study by BIS on the implementation of these liquidity ratio norms find that some banks in developed countries, to be able to implement these norms, might have to exit some businesses altogether because their liquid assets get tied up there.
Meanwhile, even though it is not fair to totally attribute the global imbalances to the East Asian economy, it is a fact that the global rebalancing and global financial stability may not be achieved without the active cooperation of the East Asian Economies with the rest of the world.