With the revolution in information technology and financial liberalization, capital moves in cyberspace at a pace and frequency unknown before.
In the early 1990s, the Asian miracle economies received a large inflow of foreign private capital on account of the financial liberalization they undertook and their economic success.
Nine areas of priority were highlighted, including reforming public administration, fiscal reform, financial liberalization to allow for more international bank participation in the Chinese economy, social welfare reform, urbanization, agriculture modernization, and technology and innovation.
FORBES: China Crossing The Rubicon As Reform Agenda Moves Forward
Take Uday Kotak, 47, whose Kotak Mahindra Bank is taking advantage of partial liberalization of financial services.
At the same time they are trying to carry off gradual liberalization of the financial sector and sustain the much-discussed yuan fix to the dollar.
Key reforms that would open up the country's financial sector such as the liberalization of interest rates and the opening of the capital account have been put on the back burner, and the timeline for their realization is uncertain.
At about the same time, the Tokyo Stock Exchange rules liberalization brought additional Western financial executives and their families to Tokyo.
FORBES: After the Japan Earthquake/Tsunami: Hawaii -- the New Mid-Pacific Business Hub
In 1996, however, Theodoros Karatzas, the minister who spearheaded the liberalization of the country's financial markets, was told to clean up the bank.
The Malaysian leader may also be echoing a cry of fear and pain from all Asia, whose world-beating growth looks set to slow in the face of increasing financial woes and global competition -- both triggered in large part by liberalization.
Japanese financial services deregulation - dubbed the "Big Bang" after a similar British liberalization in the 1980s - began officially in 1998 and is scheduled to be completed in 2002.
ChinaScope Financial's Mr. Zhu said Beijing will also push ahead with further deregulation and liberalization in the railway industry so as to attract more private capital to invest in the sector.
And, to add another contradictory layer: Financial markets continued to greet the results positively through Friday, as if a solid base for further liberalization was established.
应用推荐