Back in 2017, Professor Phillips identified 17 asset management firms with at least a trillion dollars worth of assets under management.

Among those is Blackrock at $5.4 trillion, Vanguard at $4.4 trillion, and JP Morgan Chase at $3.8 trillion.

Together, these firms control "$41.1 trillion worth of money of assets, which constitutes at least 60% of global trade," explained Mansoor.

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