The problem of limited global regulations in trade, banking, and finance, which contributed to the recent global financial crisis, must be remedied if the world wishes to prevent and mitigate future crises. 

Background

Since 2008 the global financial order has plunged into a trough. Factors that have been identified as causal to this dilemma include lax regulation of banks, poor oversight of financial transactions, and imbalances in tax law and commercial law – in short, loopholes in the free market itself.