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Economy

Giving Asia its due in global financial regulation

With US inward turn, China should get a bigger role to bolster system

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International Monetary Fund Managing Director Christine Lagarde, left, chats with Zhou Xiaochuan, right, governor of the People's Bank of China, and Augustin Carstens, his Mexican counterpart, during IMF/World Bank annual meetings in Washington on Oct. 8.   © Reuters

Global cooperation on financial regulation has become increasingly important and valuable over the last decade, but its effectiveness cannot be taken for granted. Following November's U.S. presidential election, Asia, and particularly China, needs to take a more central role to ensure the viability of the global system.

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