Financial Globalization 2.0
Aftershocks from the global financial crisis have sharply reduced cross-border capital flows, as lenders, especially in Europe, have focused on domestic markets. But this retrenchment has, paradoxically, improved the overall health and stability of the global financial system.
https://prosyn.org/arBXfMS
WASHINGTON, DC – In the decade since the financial crisis began in August 2007, the contours of global finance have shifted dramatically. The total value of cross-border capital flows has shrunk by 65% over the last ten years, a decline that reflects, in particular, the sharp reduction in international banking activities.