Based on the author’s twenty years’ experience of City. It is also, as this groundbreaking book reveals, a crucial part of the mechanism of power in the world economy. The financial system grows out of the needs of the capitalist market, and it is also a means by which the major countries and their corporations try to maintain their privileged economic status. The City, as London’s financial centre is known, is the world’s biggest international banking and foreign exchange market, shaping the development of global capital. Financial developments can rapidly alter the relationships between major corporations and how they consider their role in the world market. Colonial powers may have withdrawn their flags from the shores of the global South. Overview and critique of London's financial system in the global finance system from a leftist perspective, including concepts such as imperialism in critiquing capitalismĮxplaining why London became the international banking centre of choice, including the Thatcher-era "Big Boom" deregulation, which made it easier for financial companies to join the London Stock Exchange, abolished fixed commissions on buying and selling securities, and ended the established division of labour between jobbers and brokers and geographical/time zone consideration in which London can communicate with Asia in the morning, North and South American the afternoon, and Europe all dayĮxplaining how financial markets affect economic power. The International Renewable Energy Agency (IRENA) is an intergovernmental organisation supporting countries in their transition to a sustainable energy. Tony Norfield, author, The City: London and the Global Power of Finance.
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