the city london global power of finance review

Norfield writes from a position of experience: he has worked in the belly of the beast, and the book is the better for it.In The City, he has done the research and pulled together the financial statistics that explain how the bloodsucking works. Why do just fifty companies now have control of a large share of world economic production? The City explains how this situation came about, examining the history of the world economy from the post-war period to the present day. Tony Norfield details, with shocking and insightful research, the role of the US dollar in global trading, the network of British-linked tax havens, the flows of finance around the world and the system of power built upon financial securities. All big international companies-not just the banks-utilize this system, and The City shows how the operations of the City of London are critical both for British capitalism and for world finance. Based on the author’s twenty years’ experience of City dealing rooms, The City is an in-depth look at world markets and revenues that exposes how this mechanism works. It is also, as this groundbreaking book reveals, a crucial part of the mechanism of power in the world economy. The City, as London’s financial centre is known, is the world’s biggest international banking and foreign exchange market, shaping the development of global capital.

The city london global power of finance review