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View Poll Results: Financial Capital of the World?
London 80 36.20%
New York 141 63.80%
Voters: 221. You may not vote on this poll

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Old 03-14-2014, 10:06 AM
 
Location: Colorado
1,524 posts, read 2,152,957 times
Reputation: 2165

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The statistics say it's London.

But that brings up another question: why isn't England better off financially if it has the world capital of finance, and the whole country is within a few hours drive from it? One would think the people of England would be richer. Why does a country Germany, for example, seem to have more wealth and technological innovation than England?
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Old 03-19-2014, 02:55 PM
 
136 posts, read 174,495 times
Reputation: 198
Quote:
Originally Posted by paull805 View Post
But London IS the financial capital of the world. ''Better'' has nothing to do with it.

You cant argue with this below
http://www.zyen.com/images/GFCI_25March2013.pdf

You might still argue but if you read this and still argue I am afraid you'll look a bit



Here's the newest ranking, NYC is #1. Seems even the city of London (which commissioned and funds this "research") couldn't keep up the ruse anymore.

I love this line in the "research" paper - "given that the GFCI originated in London, it is hard for us to say that London seems to be slacking" - no dog in the fight for these people!
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Old 03-19-2014, 04:45 PM
 
282 posts, read 320,874 times
Reputation: 298
Quote:
Originally Posted by kevike View Post
Here's the newest ranking, NYC is #1. Seems even the city of London (which commissioned and funds this "research") couldn't keep up the ruse anymore.

I love this line in the "research" paper - "given that the GFCI originated in London, it is hard for us to say that London seems to be slacking" - no dog in the fight for these people!
Oh the irony of reading something like this right after Janet Yellen's disastrous press conference.

Though I've been advocating the merits of NYC, if you're celebrating this as the birth of a new paradigm that sees an ascendancy for financial services in New York (absolutely or relative to other financial centers), boy, are you in for a rude shock in the years ahead.
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Old 03-20-2014, 03:15 AM
 
Location: Seattle, WA
2,945 posts, read 3,603,938 times
Reputation: 3248
Given that Wall Street loses relevancy more and more as years go on...
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Old 03-20-2014, 04:00 PM
 
Location: LONDON BABY
301 posts, read 377,842 times
Reputation: 276
Quote:
Originally Posted by hobbesdj View Post
The statistics say it's London.

But that brings up another question: why isn't England better off financially if it has the world capital of finance, and the whole country is within a few hours drive from it? One would think the people of England would be richer. Why does a country Germany, for example, seem to have more wealth and technological innovation than England?
Germany has twenty million more people than Britain duh, but their population is falling fast and Britain's population will pass Germany by 2030.

Britain's GDP will also pass Germany before 2030 according to all the forecasters.

As for technological innovation, Britain is far ahead of Germany. Britain gets twice as many published scientific papers each year and is home to many of the worlds major scientific and technological institutions.

Britain has many more Nobel prizes and wins far more of them than Germany.

Britain has much better universities and scientific institutions than Germany too.
The top ten universities in the world are all British (4) and American (6).

As for new inventions and technology Britain surpasses Germany in every field.

Just in the last three decades Britain has invented cloning, the World Wide Web, stem cells, IVF test tube babies, MRI scanners, SMS text messages, 3d video games, and many many more, Germany has no important inventions for a long time.

Last edited by Obi wan spaghetti; 03-20-2014 at 04:12 PM..
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Old 03-21-2014, 12:29 AM
 
1,616 posts, read 1,853,116 times
Reputation: 863
New York has always been the financial capital (ok, not always, but since WWII certainly).

London's strength in investment banking is largely tied to it being the EU gateway for the major U.S. investment banks. It has specific niche strengths owing to its location like currency trading, and is still quite important, but overall does not have the financial might of New York.
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Old 03-21-2014, 02:56 AM
 
Location: Blighty
526 posts, read 455,700 times
Reputation: 593
Quote:
Originally Posted by MichiVegas View Post
New York has always been the financial capital (ok, not always, but since WWII certainly).

London's strength in investment banking is largely tied to it being the EU gateway for the major U.S. investment banks. It has specific niche strengths owing to its location like currency trading, and is still quite important, but overall does not have the financial might of New York.
Forex is "niche"

You don't genuinely believe that to be the case do you?
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Old 03-21-2014, 06:28 AM
 
Location: western East Roman Empire
6,112 posts, read 10,164,608 times
Reputation: 4850
Quote:
Originally Posted by MichiVegas View Post
New York has always been the financial capital (ok, not always, but since WWII certainly).

London's strength in investment banking is largely tied to it being the EU gateway for the major U.S. investment banks. It has specific niche strengths owing to its location like currency trading, and is still quite important, but overall does not have the financial might of New York.
Foreign exchange is a niche? Foreign exchange is a niche? Foreign exchange is the most liquid market on the planet, followed by illegal drugs.

London is the financial center of the world, among other reasons, because of the overflow of New York's financial might (and that of every other financial center in almost every other country throughout the world).

Yes, I know, it's like the airplane joke.


Even the US federal and municipal governments refer to the London market to set referenced interest rates on all sorts of bond and other financial contracts. They are "on the phone" with London everyday. Everyday.


Not too mention that a large swathe of even the most obscure insurance policies in the US, and throughout the world, are re-insured through London everyday. Everyday.

Even the most obscure insurance underwriter in, say, Fort Lauderdale, is "on the phone" with London everyday. Everyday. They even go to London periodically for training.

Because pizza has wings.

Last edited by Rozenn; 03-21-2014 at 11:32 AM.. Reason: Rude
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Old 03-21-2014, 01:29 PM
 
Location: London
3,885 posts, read 3,332,214 times
Reputation: 1638
The biggest international financial centre is London with a doubt. NY does a lot in internal US finance.
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Old 03-21-2014, 02:40 PM
 
Location: LONDON BABY
301 posts, read 377,842 times
Reputation: 276
New York is the financial Capitol of America
London is the financial Capitol of the world
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