International Financial Centres after the Global Financial Crisis and Brexit

2018 ◽  
Keyword(s):  
New York ◽  
Financial Crisis ◽  
Global Economy ◽  
Global Financial Crisis ◽  
New Technology ◽  
Interdisciplinary Approach ◽  
Important Change ◽  
Social Scientists ◽  
The Global Financial Crisis ◽  
Financial Technology

This book gathers leading economic historians, geographers, and social scientists to focus on the developments in key international financial centres following the 2008 Global Financial Crisis and to consider the likely effects of Brexit on these centres. Eleven centres in eight countries are taken into consideration: New York, London, Frankfurt, Paris, Zurich/Geneva, Hong Kong/Shanghai/Beijing, Tokyo, and Singapore. The book addresses three main issues. The first is the hierarchy of international financial centres, in particular whether Asian financial centres have taken advantage of the crisis in the West. The second is the medium-term effects of the crisis, with respect to the volume of business activity (including employment), and the level of regulation, with concerns regarding the risks of regulatory overkill. And the third is the rise of new technology, known as fintech, possibly the most important change in the decade following the crisis, with questions as to whether it will render financial centres, as we know them, unnecessary for the functioning of the global economy, and which cities are likely to emerge as hubs of new financial technology. Finally, the book discusses the likely effects of Brexit on international financial centres, in particular London, Paris, and Frankfurt. The book takes a decidedly interdisciplinary approach, with a general introduction providing a global overview from a historical perspective, and a general conclusion providing a global overview from a geographical perspective. Its focus on the implications for global financial centres is unique among books about the aftermath of the Global Financial Crisis.

scholarly journals Production Networks and Trade Patterns in East Asia: Regionalization or Globalization?

2011 ◽  
Vol 10 (1) ◽  
pp. 65-95 ◽  
Author(s):  
Prema-chandra Athukorala
Keyword(s):  
Financial Crisis ◽  
East Asia ◽  
Global Economy ◽  
Global Financial Crisis ◽  
Trade Flows ◽  
Production Networks ◽  
Trade Patterns ◽  
Republic Of China ◽  
Final Assembly ◽  
The Global Financial Crisis

This paper examines the implications of global production sharing for economic integration in East Asia with emphasis on the behavior of trade flows in the wake of the 2008 global financial crisis. Although trade in parts and components and final assembly within production networks (“network trade”) has generally grown faster than total world trade in manufacturing, the degree of dependence of East Asia on this new form of international specialization is proportionately larger than elsewhere in the world. Network trade has certainly strengthened economic interdependence among countries in the region with the People's Republic of China playing a pivotal role as the premier center of final assembly. However, contrary to popular belief, this has not lessened the dependence of the export dynamism of these countries on the global economy. This inference is basically consistent with the behavior of trade flows following the onset of the global financial crisis.

Introduction

Focaal ◽  
2017 ◽  
Vol 2017 (78) ◽  
pp. 1-8 ◽  
Author(s):  
Marguerite van den Berg ◽  
Bruce O’Neill
Keyword(s):  
Financial Crisis ◽  
Global Economy ◽  
Global Financial Crisis ◽  
Free Time ◽  
Thematic Section ◽  
Advanced Capitalism ◽  
Financial Crisis Of 2008 ◽  
Postcolonial Africa ◽  
The Global Financial Crisis ◽  
Insight Into

Nearly a decade after the global financial crisis of 2008, this thematic section investigates one way in which marginalization and precarization appears: boredom. An increasingly competitive global economy has fundamentally changed the coordinates of work and class in ways that have led to a changing engagement with boredom. Long thought of as an affliction of prosperity, boredom has recently emerged as an ethnographically observed plight of the most economically vulnerable. Drawing on fieldwork from postsocialist Europe and postcolonial Africa, this thematic section explores the intersection of boredom and precarity in order to gain new insight into the workings of advanced capitalism. It experiments with ways of theorizing the changing relationship between status, production, consumption, and the experience of excess free time. These efforts are rooted in a desire to make sense of the precarious forms of living that proliferated in the aftermath of the global financial crisis and that continue to endure a decade later.

scholarly journals Nervous Giant: China and the Financial Crisis

2011 ◽  
Vol 8 (1) ◽  
pp. 8-11
Author(s):  
Patrick Farrell
Keyword(s):  
United States ◽  
Financial Crisis ◽  
Global Economy ◽  
Global Financial Crisis ◽  
The United States ◽  
Policy Decisions ◽  
Trade Relationship ◽  
Current Financial Crisis ◽  
The Stability ◽  
The Global Financial Crisis

While the current financial crisis is widely acknowledged to be global, surprisingly little attention has been paid to its effect on one of the largest players in the global economy. China has weathered the crisis extremely well, though its growth has slowed slightly. I will analyze this by looking at China’s purchases of debt, the Chinese holdings of debt in the United States and its growing holdings in Europe, and the policy decisions directing this. This shows an intriguing change in the policy decisions that led to China becoming such a large holder of American debt. China amassed its large holdings of debt from the United States by merit of the strong trade relationship between the two countries, as well as the stability of the U.S. dollar. However, China’s interest in buying up Italian debt and forming stronger bonds with other Eurozone and European countries seems to speak to a different motive. Rather than allowing its reserves of foreign capital to grow over time, as it did with its U.S. debt, China is making a more aggressive move in this case. Thanks to its relative stability during the crisis, I believe this shows us that China is seeking to both ensure the continued security of its economic growth and increase its economic influence, thus using the instability of the global financial crisis to kill two birds with one stone.

Crisis in the Global Economy: Financial Markets, Social Struggles, and New Political Scenarios, edited by Andrea Fumagalli and Sandro Mezzadra, Los Angeles: Semiotext(e), 2010; Finanza bruciata, Christian Marazzi, Bellinzona: Casagrande, 2009; Il comunismo del capitale. Finanziarizzazione, biopolitiche del lavoro e crisi globale, Christian Marazzi, Verona: Ombre corte/UniNomade, 2010; Dall’euforia al panico. Pensare la crisi finanziaria e altri saggi, André Orléan, Verona: Ombre corte/UniNomade, 2010

2013 ◽  
Vol 21 (3) ◽  
pp. 229-245
Author(s):  
Damiano Palano
Keyword(s):  
Los Angeles ◽  
Financial Crisis ◽  
Financial Markets ◽  
Global Economy ◽  
Global Financial Crisis ◽  
Theoretical Framework ◽  
Review Article ◽  
Rich Variety ◽  
The Law ◽  
The Global Financial Crisis

AbstractThe article considers the research developed by the UniNomade project concerning the global financial crisis within the theoretical framework of Italian ‘workerism’ and post-workerist theory. On the whole, the UniNomade project offers a rich variety of stimuli to debate. However, in the work of UniNomade, there are some problematic elements, particularly when the authors invoke a series of ‘excesses’ in ‘cognitive capitalism’. This review-article argues that the old post-workerist thesis of an obsolescence of the law of value introduces into UniNomade’s work an ambiguous determinism.

scholarly journals INTRODUCTION OF FINTECH COMPANIES AND THEIR IMPACT ON THE FINANCIAL MARKET

2020 ◽  
Vol 8 (6) ◽  
pp. 157-159
Author(s):  
E. Galchenkova ◽  
P. Chupsa
Keyword(s):  
Monetary Policy ◽  
Financial Crisis ◽  
Financial Market ◽  
Global Financial Crisis ◽  
Rapid Development ◽  
Policy Instruments ◽  
Urgent Problem ◽  
The Past ◽  
The Global Financial Crisis ◽  
Financial Technology

Over the past decade, financial technology has shown rapid development. There was a lot of discussion about what constitutes the field of financial technology and whether such technologies can replace the traditional financial market in the future. The global financial crisis of 2008 showed that the classic monetary policy instruments are not effective. Due to the fact that financial technologies are developing rapidly, the number of relevant and modern research on this topic is limited. So, the study of this issue is an urgent problem.

scholarly journals الأزمة المالية العالمية , اسبابها وأثارها في اقتصاديات الدول النامية

2020 ◽  
Vol 1 (1) ◽  
pp. 83-95
Author(s):  
هند الطائي
Keyword(s):  
Developing Countries ◽  
Financial Crisis ◽  
Global Economy ◽  
Global Financial Crisis ◽  
International Monetary System ◽  
Political Stability ◽  
Arab Countries ◽  
Political Freedom ◽  
The World ◽  
The Global Financial Crisis

The issue of the global financial crisis that hit the world economy since August 2007 was one of the worst economic crises after the Great Depression of 1929. This crisis was not the result of the moment, but the most important of which is the negative impact of the Asian financial crisis in 1997 and the crisis of the information technology sector in 2000, This crisis has caused the rest of the world due to interdependence. The recurrence of financial crises in developing countries is a worrying phenomenon that has threatened the economic and political stability of the countries concerned. The global economy is currently facing a real financial crisis that has hit the economies of developed and developing countries alike, starting in 2008 and emerging in 2008. The American financial crisis reflected on most of the economies of the world so that it became implicated in the global financial crisis. As the Arab countries are part of the global economic system, they will be negatively affected by this crisis. It is certain that the degree of their influencevaries among the Arab countries according to their degree of integration and integration into the global economy. Therefore, stepping out of them requires the intensification of the international efforts to review the international monetary system, giving all countries the full economic and political freedom to choose to link their currencies to an internationally agreed basket of currencies . The researcher tried here to explain how the global financial crisis has an impact on the economies of developing countries. The research section is divided into three sections. The first topic dealt with the global financial crisis in terms of concept, definition, characteristics and what types. The second topic dealt with the causes of the financial crisis and what are the positive and negative effects And the third topic dealt with the effects of the global financial crisis in the economies of developing countries, and concluded the research with a set of conclusions and recommendations

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