There are now 35,000 trans-national companies with 147,000 foreign affiliates. Finance has become totally global. History shows that the countries whose governments do not involve themselves in business and have the fewest regulations about business, get the most investment. They is no substitute for real capital. Neither are Western government budget allocations investment.
Currency risk is the greatest deterrent to investment.
In an international economic system of global integration, differences between interest rates precisely match the expected changes in the relevant exchange rates. It is more difficult to steer economies with Monetary policy and fiscal policy when capital flows freely in a global economy. Financial interdependence has neutered government economic policy makers. Monetarists believe that all you have to do to control inflation is control the supply of money. Under these conditions slowing the growth of money will slow the growth of demand.