The data include the period between May 2004 and December 2004. †Workforce – people of 15 and more years of age in Q1, 2004. Analysts also point out that the dynamically growing Chinese economy, which uses more and more commodities, contributes to a significant increase in their prices, and may potentially drive up inflation. However, considering the increased competitive pressure, the possibility of shifting higher cost of commodities (e.g. oil) onto the final prices is limited 12 . In addition, in view of fierce competition on the labour market and the changes referred to above, the risk of growing wage demands is limited, and so are the so-called second-round effects. Re 3) Over the past three decades, the financial sector has become highly international. Financial services, provided under strictly regulated, separate, domestic financial systems in the past, are now provided under ever more open, competitive and global system. One of the measures of globalisation in the financial services sector is the growing volume of cross-border capital flows. Cross-border transactions in the bonds and shares segment are now exceeding 90 trillion (thousand billion) US dollars per annum, which translates into USD 250 billion daily 13 . Moreover, the size of financial markets and their meaning to the global economy becomes ever greater. According to McKinsey Global Institute 14 , the total value of global financial assets is now USD 118 trillion, whilst as far back as in 1980 they were only 12 trillion.
3, A "353 9 33 3 3 93  9  4 4 6752 554     465477 752 -0  75  752 901 74:  2 1" 4 752 W 57  47   74752 552 712 2 1 714 552   $  6    4 53 ! 5  4 437 53  2 $ &7'1 74 " 1 +,,-.-/ %973  4  !23(%&  2 7 %3 5332 3279  +6*9 A6(4)9 1 f 34,4/.4( &9(04 (7/4*   0C')0)    T T T T  ? @ 5Z!412