What makes a global financial centre?
Three things: a base for business, a deep capital market and international wealth management
SKYSCRAPERS, EYE-WATERING rents and (only sometimes) a functional airport are a few of the things that spring to mind when thinking about the hallmarks of a global financial centre. In recent years Britain’s exit from the European Union put London’s position as a nexus of European dealmaking at risk, and China’s creeping authoritarianism in Hong Kong has dulled the appeal of the city as a commercial hub. But what are the factors that separate mere bustling metropolises from international financial centres?
This article appeared in the The Economist explains section of the print edition under the headline “What makes a global financial centre?”
From the July 16th 2022 edition
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