In addition, he argues, Chinese firms might find it difficult to raise the large-scale funds they will need in the near future in the thinner-volume foreign markets.
The index is proportionally weighted based on foreign-exchange trading volume data from the Bank for International Settlements' triennial central-bank survey on global foreign-exchange market activity.
However, in the first five months of this year the volume of foreign-investment approvals was more than a quarter down on last year.
But today the volume of foreign exchange trading is staggering.
Patrick Salmon, the Foreign Office historian who compiled the volume of papers published on Friday as German Unification 1989-1990: Documents on British Policy Overseas Section III Volume VII, says Mrs Thatcher's trenchant objections made little practical difference.
The only difference now is that all the volume production is done by foreign-owned firms, led by Nissan, Honda and Toyota.
Some of the new signals used by its algorithm are meant to detect bigness: the number of different bylines it publishes, the number of foreign bureaus it boasts, the sheer volume of copy it cranks out in a given day.
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Foreign investors already account for over 60 percent of trading volume in Japanese stocks.
Deals by foreign investors as a whole represented 7% of total deal volume in 2012.
It can be a problem for funds that target certain foreign markets, specific industry groups or smaller companies with less trading volume.
American Express earns revenues from card licensing fees, royalties on billings, charge volume, net spread revenue and cards in force, foreign exchange conversion revenue and also a share of the discount revenue earned by the operator.
In 2012, overall revenue from this segment grew by 7.7%, accounting for foreign exchange losses, on a 4.2% increase in sales volume and 4.5% growth in prices.
This implies that Japanese companies are holding their foreign-currency prices more or less steady to book higher yen revenues despite slack volume.
And that crop surged 25% in volume last year in the U.S., some from increased foreign demand, some from domestic ethanol producers.
Global unit volume grew 3.5%, pricing increased 3.5% and foreign exchange was negative 2.0%.
Retail deposits volume was up only slightly to JPY 68.7 trillion, of which foreign currency deposits accounted for a paltry JPY 0.8 trillion equivalent.
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The markets that do the sort of high volume, low margin trades that would be affected by an FTT are the foreign exchange (FX), futures, options and stock markets (with special reference to high frequency trading of the often demonised computer algorithm type).
Every three years, when the BIS releases its new foreign-exchange market survey, the WSJ Dollar Index will be reweighted using the bank's latest trading volume figures, making it a dynamic index that evolves with the constantly changing market.
The order invoked the authority, inter alia, of the International Emergency Economic Powers Act (50 U.S.C. 1701-1706) and declared a national emergency to deal with the unusual and extraordinary threat to the national security and foreign policy of the United States posed by the risk of nuclear proliferation created by the accumulation of a large volume of weapons-usable fissile material in the territory of the Russian Federation.
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