With the advancement of the IT revolution, the costs of obtaining and duplicating information across borders have been significantly reduced. Thus, producing similar items will not yield high value, which naturally leads to limited profit opportunities. At the same time, precisely because of the advance of IT, if unique items are somehow produced, they can easily be spread globally.
I hope the IIF will address these liquidity issues, because I truly believe that effective, private sector, market-based solutions are more likely to be efficient and are more likely to provide scope for institutions such as yours to achieve the desired outcomes without choking off the innovations that have proven so helpful to the financial system over the years.