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The deepening of financial crisis across the globe in 2011 has placed the world economy in a difficult situation, as evidenced by the slowdown of economic recovery, vulnerability of financial system, and higher inflation and worsening asset bubbles in emerging economies. Bailout measures are now being reexamined among the most affected countries for the purpose of a coordinated international response to regional and global financial regulation, which, though hard to achieve, is indisputably an institutional requirement to go with the tide of economic globalization in the 21st century.
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