The City, as London's financial centre is kwn, is the world's biggest international banking and foreign exchange market, shaping the development of global capital. It is also, as this groundbreaking book reveals, a crucial part of the mechanism of power in the world ecomy. 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. All big international companies-t just the banks-utilise this system, and The City shows how the operations of the City of London are critical both for British capitalism and for world finance. Tony Norfield details, with shocking and insightful research, the role of the US dollar in global trading, the network of Britishlinked tax havens, the flows of finance around the world and the system of power built upon financial securities. Why do just fifty companies w have control of a large share of world ecomic production? The Cityexplains how this situation came about, examining the history of the world ecomy from the postwar period to the present day.If you imagine you don't like finance but have problem with the capitalist market system, think again: it turns out the two cant be separated.
For nearly twenty years, Tony Norfield worked in bank dealing rooms in the City of London. For ten years he was an Executive Director and the Global Head of FX Strategy in a major European bank, travelling to some forty countries on business, negotiating with finance ministries, central banks and major corporations. He was frequently quoted in the Financial Times, Wall Street Journal, Guardian and Telegraph, and on news services such as Reuters, Bloomberg, CNN and CNBC. In 2014, he was awarded a PhD in Economics from the School of Oriental and African Studies, University of London.