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We also need more non-official international financial institutions to be as modern and agile as the global economy they serve, meanwhile solve the root causes of the international financial crisis and consolidate the momentum of recovery.

As history confirms, private-property rights require constant defense, lest the precondition of all economic progress be undermined and destroyed. The humanistic financial-innovation is always that the laborious businessmen adapt to crisis, and was driven by a set of intellectual and even technological innovations, which I say is least likely to occur when there is more regulation.

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