Over the last two decades, the Seychelles quietly rose into the top echelon of the global offshore industry and then it experienced a sharp decline. Two different global networks contributed to this outcome. A global advisory network welcomed the Seychelles into its fold before a global banking network that controls access to US dollar transactions constricted its ties with the country. The larger significance is threefold. First, attention must be paid to global networks as both facilitating neoliberal globalization and as partially recoiling from it. Second, networks oriented around US dollar clearing banks and offshore advisers should be studied closely given the power that comes from their gatekeeper roles. Third, a development strategy founded on offshore business can run aground when faced with tightening global networks and a wavering domestic commitment. The result of these developments is a two-track offshore economy with a downward path in some jurisdictions but greater continuity in other parts of the offshore system.

中文翻译：

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全球网络起起落落：塞舌尔作为离岸金融中心的兴衰的教训

在过去的二十年里，塞舌尔悄然跃升为全球离岸行业的顶级梯队，之后经历了急剧下滑。两个不同的全球网络促成了这一结果。在控制美元交易准入的全球银行网络限制其与塞舌尔的联系之前，一个全球咨询网络欢迎塞舌尔加入其阵营。更大的意义是三重的。首先，必须关注全球网络，因为它既促进了新自由主义全球化，又部分地回避了它。其次，鉴于美元清算银行和离岸顾问的力量来自他们的看门人角色，应密切研究它们的网络。第三，当面临全球网络收紧和国内承诺动摇时，以离岸业务为基础的发展战略可能会搁浅。这些发展的结果是双轨离岸经济在某些司法管辖区呈下降趋势，但在离岸系统的其他部分具有更大的连续性。