Romain Kroes wrote: >Geographically, the whole world is >already more or less integrated into the net of the financial markets.
But how deeply rooted is this net, to mix metaphors hideously? In national economies, the financial system is deeply bound up with issues of ownership and control of productive capital, whether we're talking American-style shareholder value or German-style bank ownership. Lots of international capital flows are just hot money moving in and out. They inject and withdraw liquidity, but don't necessarily get deeply involved in the local scene. Direct investment is another matter. Doug
