As the proposed free trade zone is about to take off in Shanghai, the megacity’s growth will accelerate, China’s financial reforms will speed up and the competitive impact will be felt in Hong Kong and Singapore, as well as in New York City and London.

The recent publication of Visa’s International Financial Literacy Barometer has sparked interest in the United States’ mature financial sector and China’s still-developing financial markets. Noting the low ranking of China and Hong Kong, Michael Justin Lee explains that being financially literate will not only help Asia’s young finance sector boon, but will also improve the world’s future economic outlook.