Asia’s role in the new global financial landscape

Posted by Daniel Purchas

Deutsche Bank Blogging Challenge

Deutsche Bank Blogging Challenge

Now in its final month, the Deutsche Bank Blogging Challenge is where you can share your thoughts and stand a chance to win!

The December challenge is asking you to look to the future and tell us your thoughts on what will be the role of Asia in the new global financial landscape?

In the spirit of giving, the Deutsche team have some EXTRA PRIZES! That’s right, along with their ‘most votes’ prize of performance tickets, their judges will be sifting through all their challenge entries to find their pick of the season for the best entries across Singapore, Hong Kong and China. And for each of these three top entrants, the Deutsche team will have a new iPads mini to giveaway.

December is the month to make it count!

Visit dbbloggingchallenge.com

To help give you some ideas on how to start answering this months blogging challenge, here is one we've come up with ourselves, happy blogging!

Asia’s role in the new global financial landscape

After a volatile ten years, the world’s financial markets are seeing an unprecedented amount of change. The European Union and US markets have seen their fair share of tumult, and amid sweeping political change around the world, there are indications that a new order is taking shape.

The Asia-Pacific region is beginning to align into a more cohesive financial market. With a shift towards more harmonious market infrastructures, what was a previously a fragmented landscape of solo domestic environments is moving into a united entity. Mature, sophisticated markets that have existed side by side with young, emerging markets are now aligning into a regional structure. And while there are still questions about how individual market practices, regulatory traditions, economic priorities and infrastructures will come together, there is a definite trend towards a more holistic approach.

There’s also a question of how public policy and public institutions will move within this new heuristic. Recent examples have shown that some industry bodies are considering a regional, macroeconomic perspective, and while it’s too early to see if this trend will become a mandate, it’s certainly encouraging to see. Regionally coordinated approaches to currency trading are drawing focus, and while not yet representative of a common financial market infrastructure in Asia, these shifts could well be the first step.

The Asian Bond Market is another factor in an already challenging equation. The Asean+3 Bond Market Forum is exploring intra-regional coordination that enhances the visibility of markets, clearing the way for harmonisation across the clearing and settling of bonds. While this is an important step in establishing better infrastructure, it’s too early to tell what impact this will have on the world stage.

Learning from the established world markets, particularly those with standard regulations, can give the Asian market some great lessons. The EU has demonstrated time and again how collaboration between private and public entities can deliver universal gains, and strengthen market position. And as Asia’s position continues to solidify, substantial shifts are expected in both the reputation and prospects for workers throughout the region. Asia has a major opportunity to become an influencer in the global conversation towards harmonisation, but only once regional goals and ambitions are aligned.


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