The report confirms the growing demand on finance professionals to take active part in management issues that extend beyond finance.

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This has sharpened the anxiety among some City folk that the Asian upstarts will not only capture the lion's share of the fast-growing demand for finance on their doorstep, but will also take a big bite out of London's established businesses.

ECONOMIST: Britain��s financial industry

In particular, the impact of the credit crunch, by restricting the availability of mortgage finance, is having a negative effect on demand in both Europe and America.

ECONOMIST: The pain in Spain falls mainly on Mr Drains

One big reason to expect such a shift is that the very cheap lease finance that manufacturers have relied on to stoke demand for their more costly cars, especially in America, Germany and Britain, is probably a thing of the past.

ECONOMIST: The car industry

So, with exports unable to provide a solution, the finance ministry is splurging on an old-fashioned public-works programme to boost demand and create jobs.

ECONOMIST: Goodbye, Hashimoto