It is not revolutionary to suggest that the world has become increasingly interdependent, through trade and integrated capital markets. The speed with which Canadian markets were affected by largely-American financial problems in 2008-2009, or by Greek financial problems in 2010, demonstrate with ample clarity the interrelationships in the world economy. But the interrelationship between nations is hardly limited to the financial markets. Pollution cannot be stopped at a border crossing. Defective products manufactured in one country are likely sold in others. Price-fixing cartels are increasingly global. Misrepresentations in public company documents are likely made to shareholders in many countries.
Bennett Jones