New Switzerlands: Private Banking and Money Laundering Shift to Asia

Michael Backman

Chapter 23 in Asia Future Shock, 2008, pp 161-166 from Palgrave Macmillan

Abstract: Abstract Private banking is a relatively new phenomenon in Asia. It’s now one of the region’s newest, fastest growing service industries. Secret offshore banking, its shadier cousin, is growing too and Singapore particularly is making a pitch for this business. In years to come, Singapore is likely to become the new Switzerland, much to the consternation of other governments. China, on the other hand, will be one of the world’s biggest markets for private banking and fund management.

Keywords: Mutual Fund; Hedge Fund; Private Equity; Fund Management; Foreign Bank (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59242-1_23

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DOI: 10.1057/9780230592421_23

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