Posted on 06/12/2013 8:06:49 AM PDT by SeekAndFind
A new study by the Economist Intelligence Unit ranks New York as the most competitive global city, finishing ahead of London, Singapore, Hong Kong, Tokyo, and other American cities, including Chicago (ranked 9th in the world) and Los Angeles (17th). All three American cities have actually moved higher on the list from previous years, meaning they've become more competitive.
The study appears during a New York mayoral race in which the candidates and the business community are debating the city's future. While the outgoing Bloomberg administration argues that Gotham is in fine shape, having rebounded from the financial crash of 2008, critics point out that the city's crucial finance industry is still shrinking, and that the city's economy is not very good at nurturing new businesses. Meanwhile, Gotham's tax burden relative to its economy is at a 20-year high, and migration data show firms are more likely to move jobs out of the city than into it. There are plenty of studies showing New York's attractiveness is slipping against other American cities located in more vibrant regions, even as it gets high marks as a ‘global' city.
The Economist study emphasizes the legacy of institutions, using phrases like "institutional character," "financial maturity" and "cultural character" to rank the players in a way that doesn't necessarily capture change. To take one example, a quarter of a city's score under the study's rubric of ‘financial maturity' is based on whether a nation's national stock market is located there. New York can't lose on that measure.
But New York's benefits from the presence of its stock exchanges probably peaked 50 years ago and have been diminishing ever since.
(Excerpt) Read more at realclearmarkets.com ...
Still? I always thought that if we were going to give the world an enema they would stick the tube in NYC.
New York is the finest, best, most amazing, most fantastic, most fabulous.....
Just ask any New Yorker, he’ll tell you.
Then he’ll tell you to go f*** yourself.
Gotta love it.
I’ve been to all the cities mentioned in the first paragraph and although they’re all most certainly important...and fascinating...NYC is still the tops.By a wide margin.
“Nope, Rio Vista is!”
Rio Vista is a nice place but it’s too windy too much of the time. That said, it’s inhabited with real people, not the trash that “lives “ in NYC.
No,that wouldn't be the first choice...or even the 10th.LA,San Francisco,DC,Boston,Vegas..as well as several Chinese cities I've seen...are better candidates.
Under Anthony Weiner - no chance.
Hong Kong, Singapore, Shanghai...if you visit these places you can feel the buzz and excitement of modernity and economic growth.
New York, on the other hand is starting to feel European, like a big museum more interested in protecting its treasures than embracing change. It's still the best big city in America, though.
My own metro area - Phoenix - is all too typical of the rest of America circa 2013: a giant suburb suffering from a middle class depression and weak professional sports teams. :)
New Yorkers are about the most decent people I've ever met and I'm proud to call them neighbors.
You’re absolutely right, of course; some of the nicest people who ever mugged me.
San Fransicko had a port installed (at taxpayer expense) specifically for Enema Day festivities.
Eeeeewwwwww.....
OK, you win.
New York is loaded with carpetbaggers from Ohio and PA. It is hard to find a Native such and I now living in PA!
Oooh, Enema Day. Who says progressives are against celebrating religious holidays?
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