MontrealMontreal (ˌmʌntriˈɔːl ; Montréal mɔ̃ʁeal) is the second most populous city in Canada, the eighth most populous city in North America, and the most populous city in the province of Quebec. Founded in 1642 as Ville-Marie, or "City of Mary", it is named after Mount Royal, the triple-peaked hill around which the early city of Ville-Marie was built. The city is centred on the Island of Montreal, which obtained its name from the same origin as the city, and a few much smaller peripheral islands, the largest of which is Île Bizard.
Great RecessionThe Great Recession was a period of marked general decline observed in national economies globally, i.e. a recession, that occurred from late 2007 to 2009. The scale and timing of the recession varied from country to country (see map). At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. One result was a serious disruption of normal international relations.
MelbourneMelbourne (ˈmɛlbərn ; Boonwurrung/Woiwurrung: Narrm or Naarm) is the capital of the Australian state of Victoria, and the second-most populous city in Australia (although the most populous in its contiguous urban area). Its name generally refers to a metropolitan area known as Greater Melbourne, comprising an urban agglomeration of 31 local municipalities, although the name is also used specifically for the local municipality of City of Melbourne based around its central business area.
Offshore financial centreAn offshore financial centre (OFC) is defined as a "country or jurisdiction that provides financial services to nonresidents on a scale that is incommensurate with the size and the financing of its domestic economy." "Offshore" does not refer to the location of the OFC, since many Financial Stability Forum–IMF OFCs, such as Delaware, South Dakota, Singapore, Luxembourg and Hong Kong, are located "onshore", but to the fact that the largest users of the OFC are non-resident, i.e. "offshore".
Foreign exchange marketThe foreign exchange market (forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market. The main participants in this market are the larger international banks.
SeoulSeoul (soʊl, sʌul; Capital), officially known as the Seoul Special City, is the capital and largest metropolis of the Republic of Korea (South Korea). According to the 2020 census, Seoul has a population of 9.9 million people, and forms the heart of the Seoul Capital Area with the surrounding Incheon metropolis and Gyeonggi province. Considered to be a global city and rated as an Alpha – City by Globalization and World Cities Research Network (GaWC), Seoul was the world's fourth largest metropolitan economy in 2014, following Tokyo, New York City and Los Angeles.
FintechFintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, blockchain, cloud computing, and big data are regarded as the "ABCD" (four key areas) of fintech. The use of smartphones for mobile banking, investing, borrowing services, and cryptocurrency are examples of technologies designed to make financial services more accessible to the general public.
Wall StreetWall Street is an eight-block-long street in the Financial District of Lower Manhattan in New York City. It runs between Broadway in the west to South Street and the East River in the east. The term "Wall Street" has become a metonym for the financial markets of the United States as a whole, the American financial services industry, New York–based financial interests, or the Financial District itself. Anchored by Wall Street, New York has been described as the world's principal financial and fintech center.
Corporate havenCorporate haven, corporate tax haven, or multinational tax haven is used to describe a jurisdiction that multinational corporations find attractive for establishing subsidiaries or incorporation of regional or main company headquarters, mostly due to favourable tax regimes (not just the headline tax rate), and/or favourable secrecy laws (such as the avoidance of regulations or disclosure of tax schemes), and/or favourable regulatory regimes (such as weak data-protection or employment laws).
Four Asian TigersThe Four Asian Tigers (also known as the Four Asian Dragons or Four Little Dragons in Chinese and Korean) are the developed East Asian economies of Hong Kong, Singapore, South Korea, and Taiwan. Between the early 1950s and 1990s, they underwent rapid industrialization and maintained exceptionally high growth rates of more than 7 percent a year. By the early 21st century, these economies had developed into high-income economies, specializing in areas of competitive advantage.
