U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > World Forums > World
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
View Poll Results: Financial Capital of the World?
London 79 36.24%
New York 139 63.76%
Voters: 218. You may not vote on this poll

 
 
Old 12-31-2012, 12:16 PM
 
Location: London, UK
9,980 posts, read 8,585,807 times
Reputation: 3473

Advertisements

London and New York are joint but I think NYC is ahead. London however is much more important culturally, historically and nationally. Whereas NYC is important internationally (Headquarters of UN) stock exchange and of course culture etc... But NYC isn't a national capital city or even a state capital.
Quick reply to this message

 
Old 12-31-2012, 12:22 PM
 
Location: Chicago(Northside)
3,719 posts, read 5,478,771 times
Reputation: 1632
Quote:
Originally Posted by owenc View Post
Thats funny because any time there is a battle between nyc and a foreign city it always "wins".
I am not bias but it really is true because NYC is ussually number 1. Now im not saying everythin but is really is true we even provide links some from other countries. Seoule has the best transportation in the world....anyway what makes you think NYC wins i see tons of post claiming london wins with no facts or proof not even links.
Quick reply to this message
 
Old 12-31-2012, 12:30 PM
 
Location: In the heights
16,512 posts, read 18,851,616 times
Reputation: 8095
Quote:
Originally Posted by cali3448893 View Post
I am not bias but it really is true because NYC is ussually number 1. Now im not saying everythin but is really is true we even provide links some from other countries. Seoule has the best transportation in the world....anyway what makes you think NYC wins i see tons of post claiming london wins with no facts or proof not even links.
There are a number of indices compiled for determining financial centers and a few of the more reputable ones are listed in this wikipedia article:

Financial centre - Wikipedia, the free encyclopedia

Generally, London and NYC trade places for 1st over the last few years, but the fact of the matter is the financial services industry has spread itself far out from just a few relative centers and this is a trend that has and will continue. Not only is this a move towards powerhouses in East Asia, but also one of growing decentralization throughout countries already with established financial centers.
Quick reply to this message
 
Old 12-31-2012, 12:34 PM
 
Location: North West Northern Ireland.
20,672 posts, read 16,986,892 times
Reputation: 3107
Quote:
Originally Posted by cali3448893 View Post
I am not bias but it really is true because NYC is ussually number 1. Now im not saying everythin but is really is true we even provide links some from other countries. Seoule has the best transportation in the world....anyway what makes you think NYC wins i see tons of post claiming london wins with no facts or proof not even links.
Ugh... Ok
Quick reply to this message
 
Old 12-31-2012, 12:35 PM
 
Location: Chicago(Northside)
3,719 posts, read 5,478,771 times
Reputation: 1632
Quote:
Originally Posted by OyCrumbler View Post
There are a number of indices compiled for determining financial centers and a few of the more reputable ones are listed in this wikipedia article:

Financial centre - Wikipedia, the free encyclopedia

Generally, London and NYC trade places for 1st over the last few years, but the fact of the matter is the financial services industry has spread itself far out from just a few relative centers and this is a trend that has and will continue. Not only is this a move towards powerhouses in East Asia, but also one of growing decentralization throughout countries already with established financial centers.
Wow thankyou their are two american citites on the list chicago and nyc however it is wikipedia and there are many other links that say different.
Quick reply to this message
 
Old 12-31-2012, 12:42 PM
 
Location: North West Northern Ireland.
20,672 posts, read 16,986,892 times
Reputation: 3107
Quote:
Originally Posted by cali3448893 View Post
I am not bias but it really is true because NYC is ussually number 1. Now im not saying everythin but is really is true we even provide links some from other countries. Seoule has the best transportation in the world....anyway what makes you think NYC wins i see tons of post claiming london wins with no facts or proof not even links.
Ugh... Ok
Quick reply to this message
 
Old 12-31-2012, 12:55 PM
 
Location: London, UK
9,980 posts, read 8,585,807 times
Reputation: 3473
Quote:
Originally Posted by cali3448893 View Post
I am not bias but it really is true because NYC is ussually number 1. Now im not saying everythin but is really is true we even provide links some from other countries. Seoule has the best transportation in the world....anyway what makes you think NYC wins i see tons of post claiming london wins with no facts or proof not even links.
This is funny. NYC isn't usually No.1 Albany is no1 and Washington DC is also...
Quick reply to this message
 
Old 12-31-2012, 01:39 PM
 
Location: western East Roman Empire
5,585 posts, read 9,335,556 times
Reputation: 4176
As some have mentioned, this is about financial center, not merchandise trade (commerce), GDP or some other measure. For example, according to some list I read recently, Tokyo is the single city with the largest GDP (private and government consumption + investment + exports - imports + change in inventories), though not sure how exactly measured in that particular list.

At any rate, most of you are still missing the point. London is the financial center because of the overflow of the financial power of NY, and not in any way as an alternative to it, and also the overflow of the financial power of many other countries. It is that combination which makes London special. Reflecting this, London is basically at the center of the international day, its business hours coincide at least several hours with those of virtually every other financial center around the globe. The same cannot be said about NY, and it still matters.

Forget about the stock market, it's a thing of the past century: for example, much of the financing for major investment nowadays comes through private equity, and, again, worth mentioning, there too most of the major NY-based private equity firms have major offices in London, financing, for example, infrastructure projects in Europe and elsewhere around the globe in transactions that most people do not hear about.

Or again, just for example, if I buy a house in Florida and insure it, the local insurance company turns around and sells that risk at an insurance exchange in London (reinsurance) or if I insure a car in, say, Peru, the same thing; again, transactions that most people do not hear about, but they amass into a huge flow. And insurance companies (as well as pension funds) invest to some extent is such mega projects as farmland and highways where minimum investments are at least $50 million if not $500 million or more, again transactions that most people do not hear about.

Nonetheless, as also mentioned, there is no guarantee that London will maintain its central position going forward; things change, even international datelines, depending on, for example, who won the last war.

Maybe one day we'll wake up in a world where the international dateline starts in London and they'll be speaking Chinese in Africa, who knows?

Good Luck!
Quick reply to this message
 
Old 12-31-2012, 01:54 PM
 
Location: In the heights
16,512 posts, read 18,851,616 times
Reputation: 8095
Quote:
Originally Posted by cali3448893 View Post
Wow thankyou their are two american citites on the list chicago and nyc however it is wikipedia and there are many other links that say different.
Wikipedia is citing the other links--that's how wikipedia works. The indices they've compiled are pretty well known ones, so you can take them altogether as a pretty decent indicator and there aren't that many well-known financial services indices which aren't in that article. London has generally been just ahead of NYC for the past few years, but I suspect within a decade or two both cities will be joined or surpassed at the top by an East Asian city.

Chicago is definitely a good step down from both NYC and London though, so don't be fooled by the relatively close numerical positions.

Then again, the finance industry is way overemphasized so maybe we all should stop caring about this.
Quick reply to this message
 
Old 12-31-2012, 06:58 PM
 
641 posts, read 729,205 times
Reputation: 502
Now neck and neck in the poll.

I give a slight edge to London
Quick reply to this message
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 update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:
Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > World Forums > World

All times are GMT -6.

2005-2017, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32 - Top