I was pleased to see that the panellists, through their different fields of expertise, will be able to illuminate us with a broad range of ideas on this topic. Before giving them the floor, let me raise a few issues. Financial globalization, like most good things in life, has its doses of risks and challenges.
The recent wave of financial globalization, which began in the mid 1980s, has been seen as a catalyst for financial innovation. We have witnessed borders opening for banks and other market players. As a result, global financial markets have become deeper and more diversified and financial products have become more complex.