London and Shanghai; the world's future financial centres?

Stuart Fraser, is policy Chairman of the City of London Corporation and a member of the Shanghai International Advisory Council.

He is in no doubt that China will create a financial services industry that reflects its global standing (City A.M. 23rd May), and that it is in the UK's interest to help it develop, and to foster a move to greater openness, predictability and stability.

When I was at the Business School in Cambridge early this year, I sat with a mathematics and statistics post-graduate from Shanghai. He was very clear on his career path: to work for the City of London, because it is the best in the world, and most developed, then head back to his homeland, to take his learning with him.