French President Nicolas Sarkozy has suggested that European nations should set up sovereign wealth funds to prevent companies falling into foreign hands during the economic crisis.
In a speech at the European Parliament Tuesday, Sarkozy also says new rules for financial markets should include a ban on banks that receive state money using tax havens, and a global system of regulation to prevent a repeat of the market meltdown.
He has pledged to use a trip to China this week to persuade Asian nations to sign up to a plan to rewrite the rules governing international capitalism.
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