Next financial center: shanghai?

Discussion in 'Wall St. News' started by traderzhangSan, Mar 21, 2010.

  1. I am sure that US will emerge stronger from current financial crisis.

    But what if American people are fed up with Wall street bankers, trading ,hedge fund and all that finance activities(which don't add much real value to the society)? It is even possible that some day Goldman Sachs will relocate to Shanghai as its headquarter?

    it might be unthinkable today. But remember 3 years ago, nobody would imagine that WS was facing the danger of total collapse.They were masters of universe ,the best and brightest, the best of the best, how could they do wrong?

    And I also think Jewish people find shanghai is a very attractive place. Historically there were many successful Jewish bankers in shanghai. one time before Communist took over China, over 30% shanghai stock exchange seats were taken by jews. The only problem is that Jews don't like communist ideology. But that is not a real problem at all. Today's China is a total capitalism country on the contrary to many believe. And China is more open to outsider than many might believe.

    if this happens, the world will see the greatest wealth transfer ever in history.
  2. China already has HongKong
  3. Hong Kong will be marginalized. Besides it is too small and the quality of life is not that great.
  4. Sounds like you dislike Hong Kong, I wonder why that is. Might it be that the Hongkies look down on what they regard to be uncouth Chinese? Money can only get you that far. After that, if you cannot walk the walk and talk the talk, you are just a bag of money to be fleeced. That is assuming you have money. But it has got to be really hard for a Chinese to get pissed on by the Hongkies. If it had not been for the massive grants of liquid cash pumped into the Hong Kong economy by the Chinese government, who knows what the former British colony would be like now.

    Take from the poor and give to the rich. :D
  5. cstfx


    Singapore or Sydney

    Singapore more likely as they are a bridge between the East and West
  6. ?........:(
  7. dealmaker


    Not a chance. As long as China pracitces protectionist policies foreign banks, brokerages, traders, investors will not go there in masses besides, according to IMF; India is supposed to surpass China come 2050 nevertheless, financial capital of the world will still be either NYC or London, outside bet Dubai.
  8. Are you kidding me? Kevin Rudd speaks Chinese better than any Singapore politician. Now that is what I call a bridge.
  9. u beat me 2 it. I was going to say, with what is going on with Google right now -being hacked and the censorship and etc., anyone really think GS would make it their center?

    Wanna trust if your money disappears that you (a foreigner) would get your money back?
  10. Not a chance. China currently charges 0.5% transaction tax on all stock trading. You cannot day trade any stocks (i.e., you need to hold at least one day). The transaction cost of stock trading is about 1% of your principal. Chinese currency is not even freely convertible. If anyone complains about US financial markets, just send him to China. He will never complain again after he comes back.
    #10     Mar 22, 2010