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Hérodote

2013/4 (No 151)

  • Pages : 216
  • ISBN : 9782707177605
  • DOI : 10.3917/her.151.0102
  • Publisher : La Découverte

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Abstract

English

A geopolitical approach to conflicts between financial institutions gives rise to questions surrounding the control of global finance and its centers of power. The world’s leading financial center, the City of London, is run by the City of London Corporation (CLC), which handles rivalries over power and territory at a number of levels. At a local level, the CLC tries to extend its reach beyond London in order to allow a growing number of businesses and banks to benefit from its exemptions. At a municipal level, the CLC has to respond to continual demands from other London districts that the Corporation should undergo reform so that the unusually high revenue the City has produced for over a thousand years may be more equitably distributed. At the national level, the CLC intervenes directly in the economic policy of the British government, while at the level of British overseas territories and crown dependencies, it makes use of a network of tax shelters. At a transatlantic level, the City is in fierce competition with the world’s second-greatest financial center, Wall Street. Finally, at an international level, the City is facing the emergence of powerful new financial centers, such as Hong Kong, Singapore, and Shanghai. It is readily apparent, however, that the United Kingdom is not the only center of power to benefit from a tax haven network because every one of the world’s superpowers has territories willing to act as a haven. As such, drawing up a list of tax havens turns into a geopolitical act through which each superpower defends its turf.

Outline

  1. The City of London Corporation (CLC)
  2. Local Power Rivalry
  3. Relations with British Overseas Territories and Crown Dependencies
  4. National Power Rivalry
  5. Jostling for Position with Wall Street to Be the World’s Financial Capital
  6. Power Rivalry with Emerging Financial Centers
  7. To Each His Own Tax Haven

To cite this article

Vincent Piolet, “ Enjeux géopolitiques de la première place financière mondiale : la City de Londres ”, Hérodote 4/2013 (n° 151) , p. 102-119
URL : www.cairn.info/revue-herodote-2013-4-page-102.htm.
DOI : 10.3917/her.151.0102.

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