As the economic scales tip in favour of emerging economies – particularly those in Asia – it seems increasingly likely that one of the region's leading financial centres will steal the status of global wealth management capital from Switzerland. The question is, which city will it be?

With the recent Libor scandal failing to shake asset managers' confidence in London, emerging centres will have to work hard if they are to overtake the UK capital as the world's leading asset management centre.

The Swiss National Bank has been the most aggressive central bank in a developed economy when it comes to seeking to stop its safe haven status from driving excessive currency appreciation, but many other such institutions are using other, more varied techniques.

Financial and macroeconomic stability will be achieved through monetary, fiscal and market discipline, but only when important structural imbalances in major developed economies have been corrected.

As Myanmar is welcomed back into the international fold, the implications for the Association of South-east Asian Nations, and Asia as a whole, could be huge if the country's economic and logistical potential is delivered upon.

Economic ties between Asia and Latin America are booming amid a sluggish world economy, but to unlock the full potential of this economic relationship, there must be more investment in connectivity, a removal of policy impediments, and more inter-regional engagement.

Japan boasts a more mature and stable economy than its fast-growing Asian neighbours, and the country's vice-minister of finance for international affairs hopes that the country's role as a leading practitioner of financial diplomacy in the region is backed up by its banks.

Thailand can no longer rely upon its exports or low labour costs to give it an edge in international markets. Instead, it must rebalance its economy to be more demand driven, and to have a greater domestic focus, something the Bank of Thailand is keen to help the country achieve.