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There are many things to consider for countries considering opening up their capital markets. One advantage to allowing global capital movement in a nation especially a poorer one is; the nation can borrow to invest in its future while also having the money necessary to run the nation in the present. Another advantage of integration for these nations is risk pooling which allows the risk of investments to be spread more globally. For countries like China, Brazil, and Nigeria they can be more comforted in allowing more higher risk/ higher rewards projects to take place because they are not receiving the entire downside of failure. In the case of China the government has massive influence over global foreign investment in their country. One example of this at that cloud service operators that want to do business in China must enter into a local joint venture with their equity capped at 50%. This same joint venture deal with 50% stake also applies to automobile manufacturers, finance sector, and more. As for Nigeria they have largest population in the world of people living in extreme poverty and increasing financial integration is a good case for helping this issue. It is difficult to borrow money in Nigeria their credit to GDP ratio is at 23% which is much lower than the other nations in the same Western African region. Another thing to take into account for these nations is the possible risks of financial integration. One problem is the loss of policy autonomy with globalization it negatively impacts the autonomy a nation has over fiscal policy. Something China is very clearly aware of since they have policies that allow them to hold so much influence over foreign investment. An effect of loss of fiscal policy is that lowering corporate tax rates is that when capital moves globally it will move to the nations with the lowest corporate tax rates. This means the domestic nation loses out on that tax revenue and the burden then shifts to the labor of the country. Another possible negative impact is those international financial crises have a wide spreading affect. To be so financially linked with another nation or a large group of nations adds more risk. Being aware of all these factors is and will continue to be important to China, Brazil, and Nigeria.