Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Citgy Mayors: World's best financial cities
1 London
2 New York
3 Tokyo
4 Singapore
5 Chicago
6 Hong Kong
7 Paris
8 Frankfurt
9 Seoul
10 Amsterdam
Global Financial Centres Index compiled by Z/Yen Released Twice a year, September 2010
Nope Chicago not a Top Financial Center. Nothing but strip malls, a mudhole in the prairie...Of course this is just me boosting, I probably just made up the data to get some internet cred.
People...I tell ya.
Methodology from the first link, a rating of cities by MasterCard. It's not just a random choosing of cities. For all of Ohio248's yapping, he/she has not disproved why Chicago is an important financial center with any salient points.
Quote:
[SIZE=-2]Methodology: The MasterCard Worldwide Centers of Commerce Index is compiled from research by a panel of eight independent economic, urban development and social-science experts from leading academic and research institutions around the world, led by Dr. Michael Goldberg, Program Director, MasterCard Worldwide Centers of Commerce Program. To form the Index, the panel identified 75 cities around the world that met their initial criteria. Cities were then rated on seven key dimensions as follows: • Legal and political framework
• Economic stability
• Ease of doing business
• Financial flow
• Business center
• Knowledge creation and information flow
• Livability The process entailed measuring a number of carefully weighted, relevant indicators and sub-indicators that aggregate available data on region-specific procedures, costs and ratings, as well as criteria related to quality of life, access to technology, city livability, transportation/logistics and knowledge creation and creativity. The panel evaluated a total of seven dimensions comprised of 43 indicators and 74 sub-indicators to derive an Index score for each city, a process that exceeds traditional measures used to gauge worldwide financial and business activity.[/SIZE]
Chicago retains its position in the GFCI 8 top ten and remains the second North American financial centre, after New York. Chicago is not just strong in derivatives trading, for which it is probably best known, but is a real ‘all-rounder’featuring in the top ten in the Asset Management, Banking, Insurance, Professional Services and Government & Regulatory subindices
New York, Chicago and Toronto are assigned the profile of Global Leaders – they are well diversified, well connected and have strength across the sectors. The Established Transnational centres are well developed but less well connected than the Global Leaders. Montreal is a not yet deeply enough involved in some industry sectors or sufficiently well connected to be an Established Transnational centre.
No, Chicago has no worldwide relevance in finance.
Methodology from the first link, a rating of cities by MasterCard. It's not just a random choosing of cities. For all of Ohio248's yapping, he/she has not disproved why Chicago is an important financial center with any salient points.
You would sound slightly less silly if you actually bothered to read my posts.
I agreed that Chicago is an important financial center, BUT ONLY IF THERE ARE DOZENS OF IMPORTANT FINANCIAL CENTERS.
I posted clear evidence that Boston is a global financial center, and no one had a response. Apparently there is just as much evidence that Boston is a global financial center as compared to Chicago.
Again, if Chicago is a global financial center, then so is Boston and a few dozen other cities.
If, however, we are talking a short list of global economic hegemons, then Chicago would be no where near that list.
Chicago has no sizable banks or investment banking activity. It has little VC, private equity/private placement activity. Few hedge funds, few money managers, etc.
You would sound slightly less silly if you actually bothered to read my posts.
I agreed that Chicago is an important financial center, BUT ONLY IF THERE ARE DOZENS OF IMPORTANT FINANCIAL CENTERS.
I posted clear evidence that Boston is a global financial center, and no one had a response. Apparently there is just as much evidence that Boston is a global financial center as compared to Chicago.
Again, if Chicago is a global financial center, then so is Boston and a few dozen other cities.
If, however, we are talking a short list of global economic hegemons, then Chicago would be no where near that list.
Chicago has no sizable banks or investment banking activity. It has little VC, private equity/private placement activity. Few hedge funds, few money managers, etc.
You would sound less silly if you actually read the data that was found. According to both domestic and international organizations, Chicago is a major center for world finance, surpassing the other cities that you mentioned. The Z/Yen study identified the short list of "global financial hegemons"(because that's what we were identifying, right?)....Chicago was rated #7, worldwide. They are financial experts...what are you, exactly? What are your credentials?
In your never-ending quest to downplay Chicago and label it as a second-tier city, you cannot use any rationality in your arguments. Find a source that lists Boston (for one) ahead of Chicago, and then we will talk.
You would sound slightly less silly if you actually bothered to read my posts.
I agreed that Chicago is an important financial center, BUT ONLY IF THERE ARE DOZENS OF IMPORTANT FINANCIAL CENTERS.
I posted clear evidence that Boston is a global financial center, and no one had a response. Apparently there is just as much evidence that Boston is a global financial center as compared to Chicago.
Again, if Chicago is a global financial center, then so is Boston and a few dozen other cities.
If, however, we are talking a short list of global economic hegemons, then Chicago would be no where near that list.
Chicago has no sizable banks or investment banking activity. It has little VC, private equity/private placement activity. Few hedge funds, few money managers, etc.
Funny, I don't see Boston on the above list. If Chicago is usually ranked 5th worldwide, I say that's a pretty short list.
And the thing is Chicago really hasn't *dropped off* to seventh... It has remained pretty consistent if you go back to previous years of rankings. The asian powers of Shanghai Hong Kong and Singapore have just moved up. Tokyo has also moved down a bit. It could easily move back into a top 5 slot if anything comes out of China's boom relating to them messing with currency values. I think the entire West should be weary of Asia.
As for a short list, the only thing consist has been london and nyc as 1/2 ...so if those are the only financial centers in his mind, than so be it, ALL of the other cities have moved around over the last decade.
They are financial experts...what are you, exactly? What are your credentials?
No, they are NOT financial experts. They are simply a website!
And who cares who I am? I am not the one claiming Boston is a global financial center. Real financial experts are claiming this!
Again, using your logic, there is no possible way Chicago is a global financial center if Boston isn't. I cited FINANCIAL EXPERTS who said it is.
Quote:
Originally Posted by lakal
In your never-ending quest to downplay Chicago and label it as a second-tier city, you cannot use any rationality in your arguments. Find a source that lists Boston (for one) ahead of Chicago, and then we will talk.
Uh, you seem to have trouble following the thread discussion.
I NEVER said Boston is "ahead of Chicago". I said Boston is on the same financial tier as Chicago.
And, unlike yourself, I found FINANCIAL EXPERTS who called Boston a global financial center. Why are these same FINANCIAL EXPERTS not citing Chicago?
You seem so concerned with so-called FINANCIAL EXPERTS, but conveniently disregard their expertise when it comes to Boston and other cities.
Funny, I don't see Boston on the above list. If Chicago is usually ranked 5th worldwide, I say that's a pretty short list.
And funny, the financial experts on my web link never mentioned Chicago.
If Chicago is really a global financial center, why are these financial experts not mentioning Chicago?
Where are the banks? The PE funds? Why aren't they in Chicago?
If Chicago is such a big financial center, why does the Bay Area have more PE, Houston have more trading, Charlotte have more banks, Boston have more funds?
And then why do REAL global financial centers like NYC and London destroy Chicago?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Nothing but strip malls, a mudhole in the prairie...Of course this is just me boosting, I probably just made up the data to get some internet cred.