Singapore will emerge as the world's top centre for managing international funds by dethroning Switzerland.Switzerland's tradition of banking secrecy has helped its financial sector thrive but is under massive pressure from the United States and elsewhere, as cash-strapped governments seek to stop tax evasion and close loopholes. Switzerland and other international financial centres will be forced to create special areas of expertise if they are to differentiate themselves in future, as transparency and increased regulatory standards create a more level playing field.
Let's see what strategy Switzerland will take to overcome this..!!
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