World Bank2012-06-142012-06-142008-01https://hdl.handle.net/10986/8032This policy note is based on a project on financial services and trade agreements in the Latin America and Caribbean Region. It emphasizes that the liberalization of trade in financial services is helpful to, but is not a panacea for, domestic financial system modernization. It adds that the means of liberalizing trade in financial services may also determine the extent of the benefits that can be attained and that any trade commitments in financial services will need to be aligned with China's financial system condition and policy objectives. The author points out however, that China can also draw useful policy lessons from the Latin America and Caribbean (LCR) experience when negotiating financial services in Preferential Trade Arrangement (PTAs) by firstly, the inclusion of financial services which depends greatly on the existence of offensive interests and of asymmetric bargaining powers between the negotiating counterparts; secondly, the case studies which strongly indicate the importance of initial conditions and historical experience in shaping a country's financial services trade strategy; thirdly, the scheduling approach of the (typically self-contained) financial services chapter which both contributes to, and is determined by, the willingness to liberalize; and finally the authorities should be cognizant of important nuances between the two main negotiating templates.CC BY 3.0 IGOACCESS TO MARKETSACCOUNTINGADMINISTRATIVE PROCEDURESADVERSE EFFECTSASSET MANAGEMENTAUDITINGBALANCE OF PAYMENTSBANK ASSETSBANKING SERVICESBANKING SYSTEMBOND MARKETBOND MARKETSBUSINESS ENVIRONMENTBUSINESS PEOPLECAPITAL ACCOUNTCAPITAL ACCOUNTSCAPITAL ALLOCATIONCAPITAL CONTROLSCAPITAL FLOWCAPITAL FLOWSCAPITAL INFLOWSCAPITAL MARKETSCAPITAL REQUIREMENTSCENTRAL AMERICACENTRAL AMERICANCENTRAL BANKCIVIL SOCIETYCOLLATERALCOLLECTIVE INVESTMENTSCOMMERCIAL PRESENCECOMMITTEE ON TRADECOMMON MARKETCOMMON MARKETSCONSOLIDATIONCONSUMPTION ABROADCORPORATE BONDCREDIT BUREAUSCREDIT CARDCREDIT PORTFOLIOCREDIT RISKCROSS-BORDER PROVISIONCROSS-BORDER SUPPLYCROSS-BORDER TRADECURRENCYCUSTOM UNIONSCUSTOMSCUSTOMS UNIONCUSTOMS UNIONSDEBTDEPOSITORSDEREGULATIONDEVELOPING COUNTRIESDEVELOPING COUNTRYDISCRIMINATIONDISPUTE SETTLEMENTDISPUTE SETTLEMENT MECHANISMSDOMESTIC AUTHORITIESDOMESTIC BANKSDOMESTIC CAPITALDOMESTIC REFORMDOMESTIC REGULATIONDOMESTIC SUPPLIERSECONOMIC COOPERATIONELECTRONIC PAYMENTENTRY BARRIERSENTRY RESTRICTIONSEQUITY MARKETEXCHANGE RATEEXCHANGE RATE REGIMEEXCLUSIONFACTORINGFEDERAL RESERVEFEDERAL RESERVE BANKFINANCIAL ACCESSFINANCIAL FRAGILITYFINANCIAL GLOBALIZATIONFINANCIAL INFRASTRUCTUREFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL INTEGRATIONFINANCIAL LIBERALIZATIONFINANCIAL MARKETFINANCIAL MARKETSFINANCIAL REFORMFINANCIAL SECTORFINANCIAL SECTOR REFORMFINANCIAL SECURITIESFINANCIAL SERVICEFINANCIAL SERVICE PROVIDERSFINANCIAL SERVICESFINANCIAL SERVICES LIBERALIZATIONFINANCIAL SERVICES PROVIDERSFINANCIAL STABILITYFINANCIAL SYSTEMFINANCIAL SYSTEMSFINANCIAL TRANSACTIONSFOREIGN BANKFOREIGN BANKSFOREIGN CAPITALFOREIGN COMPETITIONFOREIGN DIRECT INVESTMENTFOREIGN ENTRYFOREIGN EQUITYFOREIGN EQUITY PARTICIPATIONFOREIGN FINANCIAL INSTITUTIONSFOREIGN INVESTMENTSFOREIGN INVESTORSFOREIGN OWNERSHIPFOREIGN PROVIDERSFOREIGN SERVICE PROVIDERSFOREIGN SUPPLIERFREE TRADEFREE TRADE AGREEMENTFREE TRADE AGREEMENTSGATSGENERAL AGREEMENT ON TRADE IN SERVICESGLOBALIZATIONGREATER ACCESSHARMONIZATIONINCREASED COMPETITIONINDIRECT BARRIERSINSURANCEINSURANCE INDUSTRYINSURANCE SERVICESINTEREST RATEINTEREST RATE CEILINGSINTERNATIONAL CAPITALINTERNATIONAL CAPITAL FLOWINTERNATIONAL COMPETITIONINTERNATIONAL TRADELACK OF CAPITALLAWSLENDING POLICIESLEVEL PLAYING FIELDLIBERALIZATIONLIBERALIZATION OF TRADELIBERALIZING TRADELOANLOCAL CONSUMERSMARKET ACCESSMARKET ACCESS COMMITMENTSMARKET CAPITALIZATIONMARKET PLAYERSMARKET SHAREMODES OF SUPPLYMULTILATERAL CONTEXTMULTILATERAL LEVELNATIONAL TREATMENTPACIFIC REGIONPAYMENT SERVICESPAYMENT SYSTEMSPOLICY RESEARCHPORTFOLIOPREFERENTIAL ACCESSPREFERENTIAL ARRANGEMENTSPREFERENTIAL TRADEPREFERENTIAL TRADE AGREEMENTSPREFERENTIAL TREATMENTPRIVATE SECTOR DEVELOPMENTPRUDENTIAL REGULATIONSRATING AGENCIESREGIONAL LEVELREGULATORY BURDENREGULATORY CONDITIONSREGULATORY REFORMREGULATORY REQUIREMENTSREGULATORY RESTRICTIONSREGULATORY STANDARDSRISK MANAGEMENTRULE OF LAWRULES OF ORIGINSAVINGSSECURITIESSERVICES PROVIDERSSERVICES SUPPLIERSERVICES TRADESOCIAL SECURITYSUBSIDIARIESTAXATIONTRADE LIBERALIZATIONTRADE NEGOTIATIONSTRADE NEGOTIATORSTRADE POLICYTRANSPARENCYWORLD ECONOMYWORLD TRADEWORLD TRADE ORGANIZATIONWTOWorld Bank10.1596/8032