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How to understand this sentence? "As economies and financial systems are increasingly integrated, many relevant issues span multiple jurisdictions and spillovers from one country or financial system to another occur frequently. " I'm a little confused about this sentence, anyone can help me to explain it? Thanks a lot!
Oct 29, 2016 2:09 PM
Answers · 4
Hi Annie, Hope your weekend is going well. So...a jurisdiction is an area under the control or authority of one figure. A different jurisdiction means a different region with a different person/people in charge. In this text when they say jurisdiction, they seem to be indicating different countries. When they say spillover they mean that a problem in one country will spill over or pour into the next country with very little control or anything we can do to stop it. Essentially they're saying that the world is so connected now and countries share so many issues that a problem in one country, will very quickly spread to other countries. You could think of it as an economic virus or infection for example. Hope that helps :) PS: The Spillover Effect would be a good point to Google.
October 29, 2016
Basically they're talking about how as both individual economies and financial systems become more globally integrated, it becomes more difficult to define which laws/rules apply. e.g. If you have a business operating jointly between two or more countries, which laws/regulations do they follow? Who should prosecute them if they break a certain law but come from a different country/region, etc?
October 29, 2016
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Chinese (Mandarin), Chinese (Cantonese), Chinese (Shanghainese), English, Portuguese
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