In contrast, other observers saw the growing internationalisation of the world economy as part of a broader and longer-dated trend where sharp intensifications in trade and financial exchanges underpinned by growing economic liberalism were not without historical precedent (for example during the period ranging from 1870 to 1913)5.
BIS Review 17/2005  1  Foreign banks and the new private sector banks have embraced technology right from the inception of their operations and therefore, they have adapted themselves to the changes in the technology easily.