This week’s Economist has a special report on international banking. With the rise in new types of financial instruments, and private equity firms, this is a very timely discussion.
With increased competition, the banks are scouring the globe for new markets to shore up their business.
Currently, the expansions have been into so-called BRIC markets (Brazil, Russia, India, China). The next horizon for expansion has been dubbed by Goldman as N11 and includes the following:
- South Korea
- the Philippines
This is not a set of economies without risk. However, as the global investment banks set up shop, easier access to western style financial controls should improve matters.