Global financial market globalization increases efficiency but raises risk of crises.
Global financial markets around the world have become more interconnected due to deregulation and technological advancements. This has led to increased efficiency and competition, but also raises concerns about the potential spread of financial crises. It is important to have systems in place to address these risks at both international and national levels. Additionally, there are questions about whether the current system effectively directs long-term funds towards real business activities, especially in less developed countries.