What London Can Teach Tokyo
The amazing success of the City of London stands in stark contrast to the unfulfilled promise of Tokyo as a financial center. The City is, without question, the financial capital of Europe and soon, perhaps, the world. It is booming, with financial services now accounting for a full 25% of Britain's gross domestic product. Tokyo remains stuck and stagnant. Twelve years ago, Prime Minister Margaret Thatcher deregulated the City with a Big Bang. Today, Tokyo is poised for its own Big Bang.
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