And dreams of an international order with Europe in the center turn into rags
Financial and business activity index (Global Financial Centers Index, GFCI) are recognized masters of the world economy, including World Bank, Organization for Economic Co-operation and Development (OECD) and Economist Intelligence Unit... The index is based on an analysis of the viability of nearly 30,000 global financial centers and shows twice a year what a particular business hub is worth, ranking them by rank.
It should come as no surprise that New York City is at the top of the latest list of 111 financial centers. The second, of course, is London. The third - no, not Paris, not Berlin, not Tokyo. Chinese Shanghai. I remember how about thirty years ago the most neglected suburbs in our city were called "shanghai". And now Shanghai is one of the world's financial capitals. However, run the list of the first ten favorites of the world financial business further, and you will find that in this top ten, in addition to Tokyo, there are also Hong Kong, Singapore, Beijing, Shenzhen. Half of the world's business elite is Asia.
China Development Institute (China Development Institute, CDI), who participated in the study, notes the high level of volatility that has characterized the global economy over the past three years. Out of hundreds of financial centers, 26 took off 10 steps at once, and 23 fell 10 steps down. Everything changes very quickly! And Trump's anti-Chinese campaign to world affairs has become, in fact, not even a Chinese, but a global problem. This did not stop 10 new Chinese financial centers from entering the top twenty of the world's main economic activity index.
From April to July alone, Beijing bought 1.46 trillion yen ($ 13.8 billion) of Japanese government bonds, three times more than last year. At the same time, the Chinese paid with American dollars, that is, they exchanged American currency for Japanese. You can, of course, write off such a deal on the desire of the Chinese to hurt Washington in a trade war, but this step gave the Chinese gold and currency basket strength and raised the rating of the People's Bank of China.
The transformation of the world economy is much broader than the intentions of Washington, which sent Secretary of State Mike Pompeo on an Asian tour to urgently seek the creation of a "united anti-Chinese front." The same "front" is already being formed around the United States itself and its companies in Asia. According to Hong Kong Asia Times, dozens of Indian startups have declared war Google, which has captured the entire local market with its applications. The Indians have banded together to find a way to confront the American IT giant by filing their claims with the government and the courts. Zooperchik - Indian financial technology company Paytmproviding an e-commerce payment system. She is preparing to create an association with the main goal of filing antitrust claims with the government and the courts against Google... After all, now almost 99 percent of smartphones of half a billion Indian users run on the operating system. Android... This allows Google completely control the applications and services provided to the user. And the American company simply removed the payment system popular among Indians Paytm from the available applications, claiming that she "violates the policy" of the company by attaching to Paytm another five dozen Indian companies. And recently Google demanded from several Indian companies to introduce a 30 percent commission on payments made through the system Android... This even if the ruble - will be half a billion. Google already prosecuted in India in an antitrust lawsuit, abuse of dominance is under investigation Android... The Indians believe that Google will lose the case - it's only a matter of time. Indian hi-tech companies will no longer be the "cash cow" of Silicon Valley.
But what about old Europe? Project Syndicate believes that her dreams of an international order with Europe at the center have turned into rags in three years. For Europe, this is a shock. The second shock, geographic, is that "Global politics are now concentrating around Asia faster than around Europe"... Business Europe is drifting more decisively to the East. The giant of Japanese electronics NEC is going to buy for 2.2 billion US dollars Swiss software developer for banks Avalok group... Japanese Asia Nikkei reports that this is the third acquisition NEC in Europe. UK software developer and communications service provider Northgate Public Services, bought for 475 million pounds, and Danish IT developer KMD, which cost $ 1.3 billion, is already working for Asia.
Advanced in e-government affairs, tax collection, payments over the Internet, which has assigned every European a personal identification number and a bank account, Europe is bringing all this infrastructure to the East. Since the beginning of the 1990s, a united Europe with its population of 450 million people, remaining in the shadow of the United States, has had little influence, compared to its potential, on world politics. Today, individual European states (France, Germany) have a greater international weight than the European Union. This is not a paradox, it is a hereditary disease. In a world where the United States no longer holds global leadership, the Old World is becoming more mobile in its search for a new foreign policy model. Europe is looking more now not on the other side of the Atlantic, but to the East.
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