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@fredtc
There was a very interesting book of the week on R4 a month or so back called Edible Economics by Ha-Joon Chang. He proposed that attributing the success of economies traditionally seen as service based solely to financial services (in his examples Switzerland and Singapore) was a fallacy as those economies actually have very strong manufacturing sectors. In fact, they have some of the highest exports per capita of any county in the world (https://en.wikipedia.org/wiki/List_of_countries_by_exports_per_capita)
So, in his argument, the concept of London as 'Singapore on Thames' was total nonsense.