We have a family visitation,
or should that be visitor, which limits time over this week. But there seems to be a lot going on, so all
that is possible is a look round to see what might be.
Along long post by Rowan
Bosworth-Davies today.longish but readable comes up with the concept
that London property has become the world's new reserve currency with serious
implications for what is left of the UK and for that matter the rest of the
world.
It is a robust post that
does not pull the punches. What he
points out is that one feature is the vast amount of building being done which
is not and not intended to be occupied.
Elsewhere Capitalists at
Work ponders on the other issues of London becoming the centre not just for
dealing in Chinese monies but critically for Sharia
financial systems which entail different arrangements which will mean good
business for those in the relevant financial and law sectors.
Veering Left at the
roundabout of politics and blogging Richard Murphy wonders if the Bank of
England is intent on turning London into the
Hong Kong of the 21st Century with a figure for the financial sector going
from being worth four times GDP to nine times in the next few decades.
None of all this makes
comfortable reading. The picture above
is one of the master mariners, Scott by name, who got Britain into Hong Kong
long ago, one of the family. I wonder
what he would make of it all?
RB-D's piece is indeed interesting
ReplyDeletestill not sure that I should worry about this: there have always been areas in London that were out of the range of mere mortals - now there are more
but there's a lot more than just trickle-down to be had from this (& I'm not a City type, BTW)