London displace New York as the financial capital of the world

London displace New York as the financial capital of the world, says in its latest issue Newsweek, citing a study of the Davos-based World Economic Forum (SEF).

In ranking the list of 55 countries SEF has taken account of over 120 indicators. Among them are the business environment, the amount of stock markets, the degree of development of technical infrastructure, human capital and access to consumer and commercial loans, notes the publication, quoted by BTA.
Despite economic problems, the UK tops the list. Australia is second, and the United States were third. According to SEF Australia, which has climbed nine places from last year’s study is characterized by high financial stability, low debt and easy access to consumer credit. Europe’s leading industrial countries – France and Germany do not fall even in the top ten, occupied respectively by 11 ° and 12 th place.
According to the authors of the study the financial systems of these two countries because of their size and global nature, have proved more vulnerable by the global crisis. Singapore climbed from 10 o to 4 th place in the list of SEF. Hong Kong was fifth, followed by Canada (sixth place), Switzerland (seventh), Netherlands (eighth), Japan (ninth) and Denmark (tenth). China is the 26-th place, Russia – to 40-o. The list of 55 countries are included, and Kazakhstan (47 th place) and Ukraine (53 th place).

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Finance