Global Biz

Gov'ts urged to regulate big banks, money

By You Nuo (
Updated: 2010-01-30 14:54
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Gov'ts urged to regulate big banks, money
You Nuo 
Experts' views heard at Davos suggest that if governments' fail to take an coordinated effort to regulate big banks and big money, there will be a risk that the best time to reform international finance will be lost.

G20 made a series of announcements since 2008 but actions that have followed up are fragmented. Banking experts say the November G20 summit in South Korea will be a test of the proposed reform.

Investment, especially private equity, flowing into developing economies is expected to rise sharply, bringing with it the danger of an early stage of another global financial bubble, experts warned.

The author is senior consultant and business columnist at China Daily. He is currently in Davos for the Davos Forum.