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By Bananking | The HistoryGoneBananas Newsletter
Why These Three Cities Rule the World’s Money Banana Stand
Forget Wall Street movies and posh London teas—the real story is how colonial trade, imperial power, and mad genius banker moves put London, New York, and Hong Kong at the very top.
These cities didn’t just win a game of Monopoly; they used their imperial loot, time zones, and a ton of global legal contracts to turn banana peels into gold. In 2025, the Global Financial Centres Index confirms they’re still the top three—by just a point, not a gallon of blood or a pirate ship.
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The Secret Sauce—Colonialism and Trade Routes
London: Pirates, Colonials, and Empire Contracts
London’s banking empire was fueled by sugar, cotton, and tea extracted from colonies. The City of London and its law let bankers create the world’s first global finance party, with grand insurance deals and currency swaps that would make even today’s meme-stock investors swoon.
New York: Canal Shenanigans and Wall Street Drama
How does a canal make a city rich? Easy—build the Erie Canal, suck up all the Midwest trade, then add a spicy Wall Street scandal or two. New York’s big break came when it took the crown from Philadelphia by connecting America’s wild markets—and then kept that crown with the world’s largest stock exchanges.
Hong Kong: Opium, Ships, and East-Meets-West Genius
Hong Kong literally started as a place to stash opium and outsmart mainland China—the British built their financial Disneyland on free trade, minimal rules, and English law. As Asia boomed, this quirky city became the place Chinese companies came to take over the money world.
Why Not Tokyo, Singapore, or Amsterdam?
Tokyo’s karaoke is legendary, but strict rules, tough taxes, and local focus meant it never charmed global bankers. Singapore is a top-notch regional FX hub but doesn’t have enough home-grown bananas in the pile. Amsterdam was the OG financial boss but swapped its crown for cheese and fintech after the British empire’s rise.
Lessons for Historians, Geeks, and Meme Lords
Colonialism and global shipping shaped everything. If you wanted a seat at the table, you needed ships, lawyers, and a good story about your Empire.
Law and contracts won more battles than armies. London’s legal system gave it a century-long edge.
Global finance is about relationships (and who brings snacks to the trading desk).
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Frequently Asked Questions (FAQ)
Why are London, New York, and Hong Kong the top financial centres?
They control the most important stock exchanges, have the deepest financial networks, and spent centuries building up global connections through trade and empire—with the numbers to prove it in the latest GFCI.
How did colonialism shape these cities’ rise?
Colonial trade routes funneled gold, tea, and cash into London and Hong Kong, while New York cashed in on America’s wild 19th-century expansion.
Could other cities take their place?
Maybe one day, but language barriers, strict laws, and market size mean Tokyo, Singapore, and Amsterdam remain niche players, not banana bosses.
What can history lovers learn?
Pay attention to who controlled trade, made legal rules, and built relationships—those were the real game-changers, not just the biggest bank vaults.
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