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Sayonara Osaka

So there we go, another year, another SIBOS.

It’s been an interesting one, with many calling it the Zen
SIBOS as we had a lot of time and space.

Or some did, as I don’t think I had any time.  The week flew by and before we know it, we’re
on the flight home.

The final session yesterday inspired us all with Muhammad
Yunus giving us insights into how to end poverty but, through the week, the focus
was far more on regulation, regulation, regulation and … regulation.

Non-stop talk about compliance with Basel, Dodd-Frank, EMIR
and a raft of other regulatory matters were the theme of the week, along with
the balancing act between East and West.

It is clear that we have a world today where half is falling
over a cliff and the other half is flying through the clouds.  That is the core challenge today: how to
balance the needs of the growth markets with those of the markets that are haemorrhaging.

It’s always been this way but, because the historical power
has been in the hands of the West, the East has had to just accept whatever Europe
and America says.

That dictatorial power over the East is dissipating however,
and it is far more likely that SIBOS 2022 will be held in Shanghai, by which
time China will be the #1 superpower in the world.

Then China will dictate the regulatory agenda to the world,
rather than the USA.

Or will it?

I wonder, as I keep hearing about China, China, China, but I’m
started to question China’s future.

With a one-child policy that has created an escalating issue
of an aging population, in the same way as Japan, I wonder if China really will
be so dominating in years to come.

Probably not.

Rather we will see the emergence of the G20, G8 and other global
groupings to create harmonisation of rules and policies on a principles-led
basis.

Or rather that was the call from SIBOS this week.

Anyways, I hope you’ve enjoyed the ramblings from Osaka.  Now off to catch my flight before the sun
rises.

Sayonara till next
week.

Oh, and see you in Dubai, 16-19 September 2013.

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About Chris M Skinner

Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here…

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