Greenspan, former U.S. Federal Reserve Chairman, who believed if the central bank could correctly send its intention to the market in advance, it would be easier to achieve its goals and cushion the blow to the market when the information was officially announced. Since then, the central bank's transparency has been greatly promoted.

Second, financial globalization has created an international flow of capital. Economic adjustments occur frequently in accordance with the inflow and outflow of capital. But in the past, economic adjustments only started after central bank meetings. This shows that financial markets mature when they call the shots, while central bank policies take a secondary position.

DOWN THE LINE: In the era of "super capitalism," labor-intensive industries still proliferate in China, but they must make upgrades; otherwise, they will be left behind in global market competition

The third [feature] is the increasing [number] of investment tools in the financial markets. In the 1980s, investors mainly invested in stocks or bonds. But afterward, financial institutions flourished with more participants like hedge funds, private funds and sovereign wealth funds. The new participants brought in new investment strategies and led world financial markets to diversified development. Financial derivatives had also boomed, which stabilized financial markets to the largest extent possible, but when major accidents occurred, the whole world suffered, just like with the U.S. subprime mortgage crisis.