Asia the Next Financial Center?

My friend Richard Murphy posed this question to me.  He quotes me at the end of his piece, but in short, I do not think New York and London will be that easily displaced.   People around the world are addicted to making a quick buck which can be anathema to economic development.  It’s hard for me to see the Chinese authorities inviting such speculative activity into their economy, at least not for a while.  http://www.cnbc.com/id/101773977