Horne Points Out How Globalization Has Taken a Bite Out of Wall Street
J. Paul Horne of the European Institute reports that, after decades of US financial dominance, economic developments in Asia have driven down American GDP’s percentage scale of the global market. He suggests that the US initiate reforms to protect against emerging market power in Asia as well as in the European Union.
Reports by McKinsey as well as CCMR suggest a reversal of regulations that were implemented after the corporate scandal epidemic in 2001. However, though America will inevitably sacrifice some of its economic dominance due to internationalization and globalization, the US will continue to be a major market force.
