According to the financial disclosure requirements framework, the market is responsible for the monitoring and controlling of regulators to prevent regulatory oversight such as the recent Libor scandal.
Chris Leung, senior economist for the Greater China region at DBS Bank Hong Kong, believes that despite fears of an economic slowdown in China, Beijing is making the right moves to enhance its economy in the long run.
The European Banking Authority order for banks to raise $153 billion will speed up their asset sales outside of Europe, as will a downgrade of European sovereign ratings.
