Notwithstanding the widespread use of the term “globalisation”, there is neither a single definition of what globalisation actually means nor a single key figure for measuring its scale and evolution over time. In my view, a useful working definition of the term “globalisation” is that, quite fundamentally, it describes the ongoing process of the international division of labour.
As far as financial products are concerned, asset management and structural financing that are selling like hot cakes are good examples. 3. Financial innovation should be adapted to time, place and people. This issue has been explored before with Macao as an example. 4. Maintain good communication between regulators and market participants.