Regional ﬁ nancial integration
Our two ﬁ nal chapters look to the future of ﬁ nance in Asia, a relatively positive topic at a time of considerable change and uncertainty. Not since July 1944 has the global community of nations tried to plan and integrate major changes to the prevailing international ﬁ nancial architecture. The earlier occasion was dominated by two industrialized economies; today’s is the ﬁ rst when several Asian states are fully part of discussions, a contrast explained in Box 12.1 . Redrawing the world’s ﬁ nancial landscape after the ﬁ rst ﬁ nancial crisis of the twenty-ﬁ rst century focuses on regulation rather than currency stability and is subject to more diverse interests and inﬂ uence, even if the process is far from fully representative.