Media Field Group
The global financial crisis, which originated in the United States, still continues to plague the world’s economy. Many issues surrounding this crisis such as where it came from and how will our markets be restored also remain at the forefront of the attention. In the May of 2008, the chairman of Board of Director and permanent representative to United Nation, Mr. Nechemia accepted the interview with the International Financing Magazine, during the interview, he predicated with remarkable accuracy the devastating financial circumstances that would overcome and nearly cripple the United States economy, and by extension ripple throughout the world’s economy. Continuing to monitor global financial events, six months later, in November of ’08, Mr. Nechemia was interviewed again and featured him for February cover story regarding his observations about the current global economic crises and its impact on Global’s economy and on the China. In the May of ‘09, IFM gave Mr.Nechemia with the third interview on the roots that the global financial crisis erupted , he pointed out that the lack of regulatory oversight and imprudence in governance gave rise to what he and other industry experts call , regulatory arbitrage , that greatly contribute to the global financial crisis. He also urged that with the 80-year old the world’s regulatory system with localization has not been in conformity to development of the current global economic integration; it will leave the more serious hidden trouble than current global financial crisis if we only focus on the remedy of the old regulatory system, but not make a thoroughly reform on it.