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Global Finance Regulation

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In the global marketplace, firms face challenges that go beyond their national borders. These forces can affect everything from competition to availability of resources. They can even impact how customers interact with a company. To remain competitive, businesses must be able to adapt to these changes and develop global strategies. With the increasing globalization of business, global finance is becoming an increasingly important part of a business’s strategy.

However, the current global financial system has failed to stem financial crises. It has also failed to respond to the changing international balance of power. The emerging market economies, for example, have become more powerful. The Group of Twenty, an informal institution established after the Bretton Woods system in 1944, has been unable to provide the kind of coordination needed to combat global imbalances.

Since the financial crisis of 2008, the international community has been working to improve global finance regulation. However, there are still many questions about the G20’s ability to provide a comprehensive global regulatory framework. The G20 agreed in 2010 to undertake initial steps towards international regulatory reforms and liquidity support. While these initial steps are encouraging, the process has not fulfilled the expectations of the global community.

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