Includes bibliographical references and index.

Introduction -- The globalization of financial services -- The virtualization of financial services -- Government regulation : the second key factor Underlying industry structure -- Competitive strategies -- Competitive strategies of international financial institutions -- Competitiveness of commercial banks from key countries -- Responding to the challenge of the new economy -- Why insurance won't survive -- Investment banking at the crossroads -- Financial instruments and financial structures -- Generation of long-term investment to support long-term bond & stock markets -- Centers of international financial activity -- Surviving the 21st Century to come.