The political–economic geography of foreign exchange trading
提出外汇交易的政治经济地理分析框架，研究国际货币体系与金融中心的关系。基于1995-2013年数据，发现交易量激增但美元主导地位稳定，交易集中在纽约-伦敦轴心，亚洲货币和金融中心进展有限，人民币挑战美元需地缘政治经济巨变。
We propose a conceptual framework for the political–economic geography of foreign exchange trading, focusing on the causes and consequences of the relationship between the international currency system and international financial centres. The framework is used to analyse data for 1995–2013 demonstrating that while the trading activity has boomed, its structure by currency, with USD in the lead, has remained remarkably stable, and its concentration in the NYLON axis has grown. We show that Asian currencies and financial centres have made little progress in the foreign exchange market, and argue that any challenge of RMB to USD would require nothing short of an unprecedented geo-political and geo-economic transformation.