Global Integration and Asset Allocation Strategies

As a portfolio manager for a mid-sized investment firm, you are evaluating the impacts of global integration on asset allocation decisions.
Consider a client who desires a diversified portfolio to achieve long-term growth while managing risk.
In your response, explain how the principles of global integration can enhance the client's portfolio through effective asset allocation. Discuss the potential benefits and considerations involved in incorporating both international equities and bonds, along with any implications for currency exposure.