Global finance centre reboot on the cards 11:44 | 20/01/2021
Nguyen Chi Dung - Minister of Planning and Investment
Four decades ago, the GDP of the tiny archipelago of the Cayman Islands in the Caribbean was near zero, but after establishment of an offshore IFC, daily cash flow through the Caymans has amounted to $2 trillion.
As a British overseas territory, it now attracts around 80 per cent of global hedge funds, even if the actual hedge fund managers work almost exclusively in New York or London. The islands also inherited a professional legal system as per English common law, which was attractive to multinational corporations and investors.