Business Services Industry
$US still oils global money markets.(Brief Article)
Australasian Business Intelligence, April, 2005 by Hughes, Duncan
Apr 19, 2005 (The Age - ABIX via COMTEX)
Diana Farrell, of the McKinsey Global Institute, claims Europe, the US and Japan still dominate capital markets. However, the comparative strengths of capital market dominators are undergoing realignment. In the 25 years to 2005, the value of financial stock has increased to approximately three times the value of the world's gross domestic product. According to McKinsey & Company, the world is gradually shifting to a sole capital market dominated by the American greenback. The US remains the largest destination for cross-border equity flows from most major countries, which has allowed it to remain at the core of the world's financial system.
Publication Date: 20 April 2005
McKINSEY AND COMPANY:...
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