Global Integration in Asset Allocation Strategy

As a portfolio manager advising a high-net-worth individual (HNWI), you are tasked with developing a global investment strategy that emphasizes the importance of global integration in asset allocation. Your client is currently heavily invested in domestic equities and is concerned about potential risks associated with market concentration. How would you approach the development of a diversified global asset allocation strategy? Address the key considerations and potential benefits of global integration in your response.