Capital goes where it's wanted and stays where it's well-treated, said the late Walter Wriston, who was once the chairman of Citicorp. That's true of all forms of capital - at least all mobile forms of capital. Wriston said it would flow freely across national boundaries to the point where those borders would no longer be economically relevant. This, he said, would be a wonderful thing for all. Authoritarian regimes would be punished by capital flight, and open-market societies would be rewarded by receiving it.

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