The next ten years saw a great change: accelerating deregulation, technological advance and global economic integration.
The first flag is a wave of geopolitical events that undermine national, regional, and global economic integration.
Advances in global economic integration as well as financial reform measures such as Dodd-Frank and others are moving market participants to trade their financial instruments on centralized, monitored exchanges so we can help avert another financial meltdown like we had in 2008.
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In addition to the global economic downturn, the botched integration of IBM's PC business has been weighing on Lenovo's results.
Yet Russia's aspiration to membership, which in turn opened up the prospect of joining the Paris-based OECD club of rich countries, demonstrated its desire for integration into the global economic system.
In principle globalisation can help to stabilise economies if they are at different stages of the cycle, but the very forces of global integration are likely to synchronise economic cycles more closely, so that downturns in different countries are more likely to reinforce one another.
It is now clear that for Japan to maintain its living standards and global competitiveness there is no alternative to ever deepening economic and technical integration with China.
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Regional agreements on trade and economic integration have proliferated, prompting questions on whether these help or hinder global free trade.
Introducing a private sector initiative for an independent Lithuania, aimed at fostering economic viability based on free-market principles and full integration into the global trading and financial systems.
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