What Could The Consequences Be For The Uk If The City Of London Were No Longer Considered To Be One Of The Top Financial Centres In The World?
There are many financial markets in the world such as NASDAQ, Dow Jones, Nikkei, etc. For United Kingdom Stock Market which can refer to London Stock Exchange’s market (LSE) is one of the most important financial centres in the world which is located in London, the capital city of United Kingdom. However if the city of London were no longer considered to be one of the top financial centre in the world, this problem can effect United Kingdom in many respects.
“The financial Market is a provided forum in which suppliers of funds and demanders of loans and investments can transact business directly.” (Stanley G. Eakins, 1998) Another meaning of financial market from investorwords.com is “a market for the exchange of capital and credit, including the money markets and the capital markets.”
London Stock Exchange Market had soaring among other stock markets such as New York as stated by David Wighton, 2008. Graeme Wearden who wrote on the article: London Stock Market Soars, 2008 claimed that the economic crisis in United States has made London Stock Exchange Market attractive for the investors. These can make London becomes one of the most well-known cities which surrounded by foreign investors and visitors.
Nevertheless, as David Wighton,2008 mentioned that “Britain’s leading banks scramble to repair their finances, our reliance on a small corner of London for so much jobs, tax revenue and the trickle-down of cash seems to some just a little risky” This is the current financial situation in United Kingdom. David claimed that Britain has faced many problems as running the industrial society which will affect the attractiveness of Britain for manufacturers and Financial as technologies plays an important role which is not sufficient in industrial society in United Kingdom. These reasons may lead United Kingdom to become a post-financial services society.
There are many consequences if...
Please login to view the full essay...