A number of issues have exacerbated the effects of the 2008 Financial Crisis on global economies, including weak economic conditions following the collapse, tight monetary policies through 2013, and unprecedented credit supply growth. Loose monetary policies and increased liquidity caused asset prices such as stocks and real estate to rise uncontrollably, causing the bubble to burst in 2009.
The Financial Crisis also exposed shortcomings in global financial regulation. The Financial Stability Board (FSB) was established in 2009 to improve financial regulation. The FSB is headquartered in Basel, Switzerland, with a major office in Hong Kong, and representatives from 34 countries. It is responsible for planning and coordinating international financial regulation among its members (including the commissioners of the national financial regulators of its members). The FSB is the successor of the Committee on Payment and Settlement Systems (CPSS), formed under the auspices of the central bank governors of the Group of Ten (G-10) in 1975.
Against this backdrop, it is exceedingly difficult to gain insights from all kinds of data and information, what with both the sheer volume and diversity at stake as machines continue to corrode our relationship with text through grasping for meaning. Before we go any further, let’s take some time to think about a few ways that we might approach this challenge. One might listen to more than one voice in an effort to find truth; one might sift through strands that are good to start with; one might employ tools that are simple to hold onto for an extended period; or one might reach deeply inward, free of distraction and otherwise. There are many ways to skin a cat or put blame on a bad pun, but there is no right answer—or, indeed, none that is better than any other. In some cases, where meaning can be ascertained at all, it rests not so much in the words as in how they are assembled into sentences—such as the unintended inference from “winning that battle but losing that war” despite no such figure of speech existing in English. In other words, by just learning how a tiny genie escapes a bottle you might conjure a future in which it gets stuck there. But if you could peer into its gaseous being you might be able to discern from whence he came—where else he has been, too. Reaching for meaning may also require shifting between two languages at once; when working in a foreign context, sometimes doing so will also require adjusting your mode of listening, even though literal translation is considered bad practice.
So here’s a little exercise I have been using whenever I find myself at loose ends: Ask a friend for a far-fetched sentence—the stranger and more abstract the better—and then claim it as yours after memorizing it so you can recite it by heart. Here is an example I came up with:
“That way is white inside the mouth.”
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