THE SECOND GLOBAL SHIFT IS RELOCATING CLUSTERS IN THE FINANCIAL INDUSTRY IN EUROPE

The Second Global Shift is Relocating Clusters in the Financial Industry in Europe



Table of Contents

Contents

Introduction3

2.1.What is the first global shift3

2.2. What is the second international shift?4

3.1. Origin5

3.1.1.    Reasons for development6

3.1.2.    Present situation6

2.3.Impact on EU7

3.Financial centres in Europe7

2.2. What is the second international shift?8

3.1. Origin9

3.1.1.    Reasons for development10

3.1.2.    Present situation10

3.1.3.Future role10

3.2. Importance of financial centres11

3.3.Comparison of two financial centres11

3.3.1.Frankfurt11

3.3.2.London12

4.  Emerging financial centres in Asia and Eastern Europe (and the internet)13

4.1.Impact on European financial centres15

4.1.1 Outsourcing services16

4.1.2. Remaining core competences17

4.2.Threats and opportunities17

4.3. EU reactions20

Conclusion23

References25

Outline of the Paper

Introduction

In the introduction section it is discussed that the vintage economic alignment is shifting. As the international economy recovers some appearing markets are likely to augment much quicker than traditional economic powers(Bindemann 1999 pp. 45). At the commerce level, these moves are even more apparent with accelerating capital flows, basic demographic changes, and the rise of state capitalism reshaping the world map for numerous sectors.

Comparison of two financial centres

In this section two financial centres has been compared on the basis of their structure, money terms etc.

Conclusion

In the conclusion it has been discussed that During 2010 a number of significant hedge finance managers, with collective assets under management worth more than US$50 billion, have relocated to Geneva, whereas In many situations the move was restricted to the managers with the assets remaining domiciled in their initial location (Spath 2009 Pp.78).

The Second Global Shift is Relocating Clusters in the Financial Industry in Europe

Introduction

The vintage economic alignment is shifting. As the international economy recovers some appearing markets are likely to augment much quicker than traditional economic powers (Merki 2005 pp.12). At the commerce level, these moves are even more apparent with accelerating capital flows, basic demographic changes, and the rise of state capitalism reshaping the world map for numerous sectors. PwC's Macro Consulting team has evolved a device to map future clusters over the world. This report benefits this device to highlight the geographical locations that will host the biggest clusters in five industries:

Pharmaceuticals;

Automobile assembly;

Asset management;

Filmed entertainment; and

Tertiary education.

2.1.What is the first global shift

Global Shift discovers the origins of such present planetary crises as weather change, weakening assets, overpopulation, scarcity, and infection, and interprets how a new convergence of technical study and religious insight is propelling us in the direction of a more enlightened future (Lannoo 2007 pp.23).

 

2.2. What is the second international shift?

This paper discovers some of the key characteristics of the `second' international move or off shoring of a variety of service purposes from America and Europe to nations like India and China. Service off shoring or international locating is seen by the newspapers, policy-making groups and trade unions as a important risk to living and future service paid work in evolved market economies (Helleiner 1994 pp.67). This paper discovers two issues. First, it discovers the development of call hubs and data-processing warehouses in India and in another location as schemes that are being utilised to evolve a new worldwide ...