London and New York after the Credit Crunch

Both Cities may well remain the dominant financial centres after the credit crunch has been consigned to history. The common language will continue to be the language of commerce for decades, the financial, legal and accounting brains will not decamp en masse, but the shine will be less intense than before. Just looking at a financial portal in India - a country that we know very little about - the other day brought home the fact that in that country alone forces are at work that will create a marketplace that will dwarf most other domestic markets in the near future. Who will be a big beneficiary? While London may well be one of them we would also give good chances to Singapore and Dubai as they are much nearer to the action and possess more cultural affinity. In a similar vein China and Russia will develop internal markets that will pull business away from the old centres and in Europe we can envisage a multi-polar network of regional centres that can stand their own against the gravitational pull of London and New York. Property Developers take note: with communication costs at rock bottom you should not bank of continued expansion in these two cities.