Anthony Bolton, veteran star stock-picker at Fidelity International, is moving to Hong Kong to set up a China fund. He is following Michael Geoghegan, HSBC's chief executive, who has already announced he is moving from London to Hong Kong. “The centre of gravity is clearly shifting,” Mr Bolton says.

It certainly looks that way, although it is worth recalling that it was not that long ago that Japan was tipped to be the new number one. Economies have their ups and downs – look at Dubai.

What we can forecast with some confidence is that English will remain the world's leading language for as long as anyone reading these words is alive. Economies can tip into crisis, fund managers can switch their investments at the click of a button and executives can relocate to the other side of the world, but it takes a lot more to topple the global language.