According to Walt Disney, “it’s a small, small world”. Hillary Clinton took over 350 pages to espouse the existence of the global village and, according to the century-old adage, if X location sneezes, [insert place with which you need to make a tangential link] catches a cold. Economies around the world are inextricably linked, and financial contagion from one financial centre quickly spreads across the globe: one only has to look at the domino effect of the collapse of Lehman Brothers for a very recent and very relevant demonstration of this interconnectivity.
Download the .PDF to find out more. This article first appeared in the 3rd edition of The International Comparative Legal Guide to: Lending & Secured Finance; published by Global Legal Group Ltd, London (www.iclg.co.uk).