Opinion: Opinion | China Now Has 7 Of The World's 10 Biggest Banks, And That Should Worry India
This opinion piece reflects on the historical dominance of Japanese banks in the 1990s and compares it to the current rise of Chinese banks in global rankings. The author suggests that India should be cautious of the economic implications of this shift in capital power.
In July 1990, The Banker, a magazine that has ranked the world's banks since 1970, put Sumitomo Bank at the top of its Top 1000. Japanese banks filled most of the top ten that year. Credit Agricole, Barclays, and National Westminster were the intruders. The ranking read as prophecy. Asia had arrived, capital had shifted east, and the future belonged to Tokyo. Within two years, the Japanese asset bubble had burst, and the decades that followed are now called lost.</p><!--dsk1-->
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