دانلود کتاب تغییر ساختاری و پویایی‌های رقابتی در بازارهای مالی جهانی: نقش کاتالیزوری دو بحران

Globalization has made Western economies and financial systems dominant worldwide. The financial sector has changed considerably due to the advent of new intermediaries and financial instruments and the growing globalization of financial markets. Nevertheless, the recent global financial crisis (GFC) has demonstrated the need to transform the global financial market along the Western- centric line. Several challenges developing regions encounter in this regard. These are deteriorating financial market imbalances, inflows of foreign direct investment (FDI), and increased exposure to financial volatility. This book is a product of the current uncertainty that has been affecting the global financial markets over the past few decades. Those in charge of global capital flows continually face two closely related forces: the rapid transfer of financial power to Asia and the abrupt fluctuations in global capital flows. These tendencies are not simple statistics; they represent profound changes in the world economy that significantly affect business, politics, and society. The emergence of Asian financial hubs, the maturation of international financial markets, and their growing impact on international transactions have become so important that they are being closely monitored. However, the driving force behind writing the book is growth rather than crisis. The global financial system is caught in an endless cycle of instability, and the impact of major players and institutions on it is becoming increasingly influential. The world’s major financial centers, which are responsible for distributing international capital, are also contributing to systemic problems. The GFC and the COVID- 19 pandemic are events that cannot be forgotten. Instead of establishing new financial powers, they strengthened the trends. This crisis exposed structural vulnerabilities and resilience in the international financial markets, making them more competitive. The researchers are interested in finding answers to this crisis by studying how it can both increase prices and influence the Asian market by altering the global financial system, as well as what it implies for the future of financial centers, capital markets, and the world economy. We believe that this book will be of value to academia, financial market practitioners, and all individuals who want to understand the forces that have transformed the world financial system as we know it. The book outlines four key insights for academic literature. First, it examines global financial developments since the onset of the COVID- 19 pandemic. In fact, this study includes data through 2023– 2024 and examines the pandemic transition strategy alongside the interest rate cycle, unlike the 2019 and 2020 studies. Second, it explores the “global financial cycle,” highlighting regional variations, especially in Asia, where demand for Chinese corporate bonds grows independently of the US business cycle. Third, it offers systematic cross- regional quantification of market depth, efficiency, and resilience, demonstrating that the quality of financial integration differs more than its quantity. Fourth, it argues that these trends will influence the China- US relationship, especially regarding whether China seeks to replace the US, which affects how the emerging duopoly— accounting for 55.6% of total income— will coexist. This will be more complex than existing dominance or crowding- out models. I wish to give my heartfelt thanks to Tula Weis, senior editor at Palgrave Macmillan New York, who played a critical part in the publishing of the book. Nevertheless, her professionalism is not only alive but also inspirational. I also wish to thank the anonymous reviewers whose positive remarks, knowledge, and ideas significantly enriched this book.