Next financial center: shanghai?

Quote from traderzhangSan:

To be able to become world financial center, you need to be risk takers.
Indian people are too conservative and they deem trading as gambling. Basically India doesn't have that kind of financial center cultures even though it claims it has British legal system. Maybe Mumbai will be Shanghai's back office some day and China outsource the quantitative analysis, programming, model development , trade settlements etc to mumbai.
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untrue. India has a huge focus on math/engineering/science, they are growing rapidly, gaining financial acumen, and they speak English. Unlike China, they are not dominated by a Communist regime bent on managing the entire society, controlling what their people can watch/read and that still squeezes their population with a paranoid 1950s mentality. India is a capitalistic democracy. The Chinese govt is like a nonreligious theocracy, bent on controlling everything.

Indians are a smart, smart people. And a lot of Indians are into the entire trading mantra.
 
Quote from TraderZones:

untrue. India has a huge focus on math/engineering/science, they are growing rapidly, gaining financial acumen, and they speak English. Unlike China, they are not dominated by a Communist regime bent on managing the entire society, controlling what their people can watch/read and that still squeezes their population with a paranoid 1950s mentality. India is a capitalistic democracy. The Chinese govt is like a nonreligious theocracy, bent on controlling everything.

Indians are a smart, smart people. And a lot of Indians are into the entire trading mantra.
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nobody doubt about that and I agree indians are smart.
But that is not the point. It is the cultures that matters. you must have a cultures where people are willing to take risks. Do you see as many indian gamblers in Vegas as Chinese? That might not be a good example, but my point indians are very suspicious about trading. yeah, there are many indians working in WS, but most are quants doing modeling. if they do trading, most are executing trades because they speak better english than chinese.

I agree that China communist govt is very bad and I dislike them too. But you are damn wrong to say they are with a paranoid 1950s mentality.You lack of understang of china is either ignorant or misinformed
 
It is very easy to mistake the totalitarian aspects of current day China for the communist regimes of the past. Granted, China is far from a free society but capitalism has taken hold in ways that all but assure that they will continue to move toward freedom ... even if the rate is too slow for our tastes.

In 1995 I spent six months in South Africa and witnessed first hand how competitive the Chinese could be when the focused on doing business somewhere. China looks at the continent of Africa as someplace that can absorb a billion or more of their population in the next 50 years. They are laying the groundwork for a takeover of huge swaths of the continent and my guess is they will become the worlds first multi-continental power in modern times. The process is in the earliest stages but it has begun.
 
2010 Global Financial Center Ranking (Top 20)

http://www.zyen.com/PDF/GFC 7.pdf

1 United Kingdom - London
1 United States - New York City
3 Hong Kong - Hong Kong
4 Singapore - Singapore
5 Japan Tokyo - Japan
6 United States - Chicago
7 Switzerland - Zurich
8 Switzerland - Geneva
9 China - Shenzhen
9 Australia - Sydney
11 China - Shanghai
12 Canada - Toronto
13 Germany - Frankfurt
14 United States - Boston
15 China - Beijing
15 United States - San Francisco
17 United States - Washington D.C.
18 Jersey - Jersey
18 Luxembourg - Luxembourg
20 France - Paris
 
Quote from hoffmanw:

2010 Global Financial Center Ranking (Top 20)

http://www.zyen.com/PDF/GFC 7.pdf

1 United Kingdom - London
1 United States - New York City
3 Hong Kong - Hong Kong
4 Singapore - Singapore
5 Japan Tokyo - Japan
6 United States - Chicago
7 Switzerland - Zurich
8 Switzerland - Geneva
9 China - Shenzhen
9 Australia - Sydney
11 China - Shanghai
12 Canada - Toronto
13 Germany - Frankfurt
14 United States - Boston
15 China - Beijing
15 United States - San Francisco
17 United States - Washington D.C.
18 United States - Jersey Jersey
18 Luxembourg - Luxembourg
20 France - Paris
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east asia dominates the asian financial scene, india middle east no where to be found
 
It will probably become a big regional financial center, but not a world one. The simple reason is it is an unfree country. How are you going to attract world class staff to a 3rd world dictatorship, that's the problem. Hong Kong has a better position there IMO.
 
Quote from heech:

I think Hong Kong's relevance will drop quickly. It's primary advantage right now is that the Chinese capital markets aren't fully open, but that advantage will fade with time.

Stock index futures trading starts next month, in Shanghai.
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No, HK's advantage is low tax, light regulation, stable rule of law, relatively low corruption, and friendly government policies to international capital. Shanghai is unlikely to ever have all those factors and currently doesn't even have one of them.
 
Shanghai Overtakes Tokyo as Busiest Asia Stock Market

Jan. 14 (Bloomberg) -- Shanghai overtook Tokyo as Asia’s biggest stock market by trading value last year, as an 80 percent jump in China’s benchmark index boosted equities demand.


............ Only the Nasdaq stock market and the New York Stock Exchange had higher trading volumes than Shanghai.........

January 14, 2010 05:31 EST

http://www.bloomberg.com/apps/news?pid=20601089&sid=aB8NsQZYKeII
 
Quote from Ghost of Cutten:

No, HK's advantage is low tax, light regulation, stable rule of law, relatively low corruption, and friendly government policies to international capital. Shanghai is unlikely to ever have all those factors and currently doesn't even have one of them.
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but hongkong belongs to China. they are One.
 
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