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Volume 9, Issue 2.
Summer
Hong Kong and Singapore currently serve as Asia's two main financial centers. Analyses of the evolution of international finance have generally concluded that within a given region, a single financial market is likely to predominate. Yet such centralization has not occurred in Asia - while Hong Kong is the loan syndication center, Singapore remains ... read morethe chief funding source - the nexus of the Asian dollar market. Edith E. M. Johnson compares the development of these two financial centers and discusses their future prospects while evaluating the increasing importance of Japan. She concludes that while Tokyo eventually will be the primary Asian financial hub, Hong Kong and Singapore are likely to maintain their current financial roles in the short run.
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