Slowed growth in Asia has firm-level implications in the U.S. and Europe. U.S. businesses feared China's loss of Most Favored Nation status as much as China did. The transparency transformation of transactions. The demands and rigors of financial markets are spreading the adoption of standards that guarantee transparency. Outside auditing is requisite.
Firms have to tell the truth regarding financial results.
Moral hazard in investment is being investigated and prosecuted. Not surprisingly, not everyone is enamored with financial markets or the new global economy. There have been some unanticipated consequences to the new financial order. First, no one could have planned the extent of the dollarization of the Americas that exists today. North and South America are as much a single currency hemisphere as is Europe.