3. Department of Foreign Affairs and Trade

4. Relationships Weakening New Rules Increasing Competition New Finance Needed

5. Relations under Strain - Many Loans Not Performing

6. Relations under Strain - Bank Lending Contracting

7. Competition Increasing Tariff Rates Falling

8. Competition Increasing Foreign Direct Investment Inflows Increasing

9. New Finance Sources Needed - Value of East Asian IPOs Rising

10. Governments Tightening Rules - Checklist of Reporting Requirements

11. Accounting Standards Variable Index Based on Annual Report Inclusions

12. High income economies leading Hong Kong Singapore Australia

13. Good progress in middle income economies Japan Malaysia ROK Taiwan China

14. Slower progress in emerging economies Thailand Indonesia Philippines Vietnam

15. Implications for Business? Best opportunities in economies moving to rules based business Listing and disclosure rules set to reduce risk Opportunities to implement ‘regulation revolution’

16. Summing up Relationship approach set to decline Crisis, competition, finance needs driving move to rules based business Slow progress risky in emerging economies Aid program opportunities Commercial implications significant