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Sorry,
ButI read this report a few months ago and its total tosh. You cannot convince me that Philadelphia is above LA or SF. That's absurd and nonsensical.
What a crock. Los Angeles is an absolute trendsetter in fashion, music and entertainment which equates to massive influence in the spending habits of hundreds of millions of consumers around the world on a daily basis.
I love how that is seen as insignificant. Puhleeze.
How does any of that what you mentioned about L.A. drive the GLOBAL economy?Bombay is the capital of movies.Fashion could be Milan
This report is very misleading and actually counts such things as five-star hotels and restaurants as more important than real trade and commerce. More of a "best places for people in banking to travel to" list. Funny and inconsistent at best.
First of all,
There is absolutely, unequivocally no way in bloody hell that Philadelphia is anywhere near as important as Los Angeles, economically or otherwise. LA is in the highest echelons of world cities and Philadelphia, quite frankly is not.
Stockholm and Singapore above LA?????
Excuse me dimwits at MasterCard, but LA is the center of SoCal's $1 Trillion economy, that's far more important imo than how many five-star hotels there are in Hong Kong.
They ought to go by gross domestic product. California or Texas have annual GDPs that are 3rd or 4th on the list of COUNTRIES of the world. We are the most productive nation in the entire world.
By reading the report, we probably see that LA scores low on dimensions such as financial flow and knowledge creation & info flow. Many studies and researches have indicated that LA is less important in the world these days considering its role in the global financial network, which I firmly believe, is very crucial in shaping the world economy. Just look at the top 10 cities London, NY, Tokyo, Singapore, Chicago, HongKong, Paris, Frankfurt, Seoul, Amsterdam-Most of them are either primate cities, or commercial & financial centers of their respective country/region.
I believe the information flow here implies the connectivity measurement among global cities, and LA seems not doing well in this department. More importantly, as stated in the report..."Truly “global cities” serve as critical links in a network that directs commerce and finance around the world- The cultural information flow is also part of the study, but it's not viewed as "vital" in examining how globally connected cities are.
Quote:
Originally Posted by kettlepot
ISecondly, regarding Los Angeles, it would be interesting to know how this study counts information flows. How could a movie that is seen on millions of screens by a billion people not count as a massive information flow. I suspect that Mastercards methodolgy did not take into account cultural information flows, and cultural impact.
No. You can't go with that measurement alone. Mexico city's GDP is larger than DC, Boston, San Francisco, Houston, Dallas, Seattle & Toronto - Are you going to say Mexico city is more important & powerful than our American & Canadian cities? The right way to look at it is the GDP per capita, not the total GDP output.
Quote:
Originally Posted by Synopsis
They ought to go by gross domestic product. California or Texas have annual GDPs that are 3rd or 4th on the list of COUNTRIES of the world. We are the most productive nation in the entire world.
No. You can't go with that measurement alone. Mexico city's GDP is larger than DC, Boston, San Francisco, Houston, Dallas, Seattle & Toronto - Are you going to say Mexico city is more important & powerful than our American & Canadian cities? The right way to look at it is the GDP per capita, not the total GDP output.
Mexico City (my parents were born there) is just as an important city economically, socially, as those other cities.
Thats a very American thing to say, "American cities are the most important than Latin American cities."
NYC might be considered the "capital of the world" or the "Americas" but people in Sao Paolo or Buenos Aires or Mexico City might say their city is much more important.
No. I don't think it's the "American thing" to say "American cities are more important than Latin American cities". It's just obvious. The MasterCard study has already confirmed that.
Quote:
Originally Posted by pistola916
Mexico City (my parents were born there) is just as an important city economically, socially, as those other cities.
Thats a very American thing to say, "American cities are the most important than Latin American cities."
NYC might be considered the "capital of the world" or the "Americas" but people in Sao Paolo or Buenos Aires or Mexico City might say their city is much more important.
If it werent the fact that the Bay Area owns Phildelphia in just about every conceivable measure of business, you would have been on to something.
One other thing,
The Bay Area has more Fortune 500 Companies than the entire state of Pennsylvania, not to mention any Metro Area save NY and Chicago. Suppose that means something as to the concentration of business? I mean, I dont suppose Chevron, HP, Intel are global enough names to consider noteworthy but maybe it does leave room for pause?
Lets get real here.
The Bay area consists of the combination of 2 different MSA's. It would be like Philadlephia 25 years ago cutting NYC off at the pass and contriving with NJ to slap a fancy label to compete with NYC and DC. If we are going to put a fictitious imaginary metro boundary at Trenton(20 miles from Philly) then its only fair to also put one at San Jose(48 miles from SF)
For arguments sake I'll generously give you San Fran all the way to the bottom of the Bay- thats 60 miles. 3x the parameters given to squashed metro Philadlephia eventhough the adjacent areas to Philadlephia(central jersey in particular) is more
densely developed and arguably just as economically robust as the Silicon valley.
Even with metro Philaldephia getting beaten down by the census bureau it still compares favorably to SF.
Area from SF to San Jose- 14 Fortune 500 companies
San Francisco city- 5
Mckesson
Wells fargo
Gap
PG&E
Charle Schwab
Philadlephia metro-16 Fortune 500 companies
14 SE Pa-1 South jersey-1 Del.
Philadelphia city-9
Sunoco
Comcast
Cigna
Aramark
Lincoln Finacial
Rohm & Haas
Crown Holdings
Unisys
Soverign bank
Get over yourselves Bay Bubblers.
Look at the last map and tell me what region is part of a more robust economy. SF is the northern end of 7 M person metropolis Philadlephia is in the center of a 60 million person metropolis.
Last edited by rainrock; 07-20-2008 at 09:28 AM..
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