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> it is fortunate that the UK has its much maligned financial sector - without London, the UK really would be quite doomed. This is a virtual advantage, which
by SanjayMehta 1y ago
> it is fortunate that the UK has its much maligned financial sector - without London, the UK really would be quite doomed.
This is a virtual advantage, which is being eroded as we speak.
Thanks to the overuse of sanctions, many countries have already switched to bilateral currencies.
- webdevver 1y agowell... i dont know about that. i dont think its as virtual as people think. fundamentally any industry is about people, and london is chock full of hft shops, and they're all in-office. where would they go? they are quite serious software engineers (ive met only a few) and very selective. london being an intellectual hub, i dont see that changing any time soon. as for sanctions, i think the gov will cut out perfectly sized legal (loop)holes for the people that matter.
- SanjayMehta 1y agoThe real value in London - actually more accurately the City of London - is in the networks built up over the decades. By networks I mean the old boys networks where insiders share information with each other over the phone. Software as in used in trading or other financial services is only of value if there are takers for those services. One rapidly eroding service is insurance. The so-called "shadow fleets" are called that only by London, because they're not insured by London. That doesn't mean that they're not insured: various governments have already created vehicles to insure strategically important shipping.