The Cambridge Dictionary defines a nexus as ‘an important connection between the parts (.) Although at the time of writing (January 2019) whether Brexit will actually take place, and if so, under what circumstances, is still largely undetermined, this paper seeks to identify the actual and potential effects of Brexit on NY-LON and, consequently, on the global financial industry. ![]() This weakening of NY-LON may well, in turn, lead to a shift of the global financial industry’s centre of gravity. A related, although far less publicized, issue is that Brexit might also weaken London’s interconnectedness with New York-which a variety of authors have referred to as the NY-LON ‘ axis ’, ‘dyad ’, or ‘transatlantic core ’, 1 and which this paper refers to as the ‘ NY-LON nexus ’. Given the importance of the United Kingdom’ s EU membership to the dynamism of its financial services industry, this concern was perfectly understandable. 1 See Wójcik, D., ‘The D ark S ide of NY–LON: Financial C entres and the G lobal F inancial C risis’, Urban (.)ġ Since Januwhen David Cameron announced his plan to hold a referendum on British membership of the European Union if the Conservatives won the following general election, concern has been widespread that Brexit would endanger London’ s status as a global financial hub.Keeping that framework in mind, Part three provides a few insights into the potential effects of Brexit on NY-LON and globalisation. ![]() Part two outlines the ‘space of flows ’ between the ‘global twin-cities ’ and the institutional foundations underlying those flows, making the case for the locational and institutional embeddedness of globalisation in NY-LON. Part one focuses on the centrality of Foreign Direct Investment (FDI) and finance in the UK-US economic relationship and on the role of NY-LON as a key driver of globalisation. To address this issue this paper brings it into the wider debates on the ’special’ UK-US economic relationship and on the role of financial centres in the process of globalisation. While concern has been widespread that Brexit will endanger London ’ s status as a global financial hub, a related - although far less publicized - issue is that it may also weaken London’s interconnectedness with New York, which this paper refers to as the ‘NY-LON nexus ’.
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