Regaining sovereignty Some suggest that the solution is to withdraw within national borders. This option is destined to fail for two reasons. First, it deprives people of the economic advantages that trade and integration bring.
It was commonly recognized at that time that Chinese banks, especially the big four, could hardly withstand a big economic downturn if not seriously reformed. The banking system was then vulnerable to shocks, especially external shocks, which would trigger confidence crisis or even systemic meltdown.