To achieve this, governments and corporations must live by a system of shared norms.

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The supervision of the financial system has been overhauled to meet international norms.

ECONOMIST: THE KOREAS

The situation in Korea right now resembles what happened when its highway system was first built and traffic fatalities soared in the absence of clear rules and norms.

FORBES: Technology

As emerging economies increasingly integrate with the western world and open up their economies, these countries will need to restructure their financial institutions and institute regulatory norms in line with global guidelines, for instance by adopting Basel Guidelines for their banking system.

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