And second, if true, can we reconcile the perception that globalization has made economies increasingly interlinked with the suggestion that the most recent U.S. slowdown has not been matched by slowing elsewhere to the extent that we have seen in recent cycles? 1 Global integration through trade and finance Undoubtedly, economies have become more integrated in recent decades.
The Global Code is aiming to set out global principles of good practice in the foreign exchange market to provide a common set of guidance to the market, including in areas where there is a degree of uncertainty about what sort of practices are acceptable, and what are not.