http://www.economist.com/node/16423340.

“CONTEMPORARY art is a futures market in which “derivative” is a bad word. Art Basel, which ended on June 20th, heard a lot of phrases adapted from the financial markets. To be a good bet against near-zero interest rates and unpredictable currency fluctuations, art needs the potential of a global market. Thus, “local artist” has become a synonym for insignificant artist and “national” damns with faint praise. “International” is now a selling point in itself.”