Center of the Universe: London vs New York
I've come across a number of articles on the web, cited below, that seem to suggest that London is catching up to, and in some respects eclipsing, New York's preeminence as the World's financial capital.
McKinsey has suggested that London will eclipse New York as the World's financial capital of the 21st century.
But I'm curios, do you guys believe that this is, or will be, the case? Does New York have any other competitors? Could Beijing be the new big thing? Singapore? Shanghai? Hong Kong? Has excessive regulation, as Mr. Bloomberg suggests, been the primary cause of New York's decline?
Some of the articles I've posted below also touch on the social and cultural differences between the two cities. I love both; the only thing I don't like is New York's dirty Subway. Which city do you prefer? Why?
From a banker's perspective, are the opps. and compensation (after taxes and cost of living are factored in) roughly equal in both cities? Is working and partying in London as interesting as it is in New York?






http://nymag.com/guides/londo
http://nymag.com/guides/london/29431/
http://www.time.com/time/magazine/article/0,9171,7...
http://www.nbcnewyork.com/news/business/Recession-...
the universe has no center...
the universe has no center...
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..dubai world baby
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I thought it was Athens
I thought it was Athens
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Center > Centre
Center > Centre
I was about to ask everyones
I was about to ask everyones 2 cents on that also.
What do you guys think the increase in Bonus tax will do to London in terms of being a global banking center? So far 2 Bankers have moved to Manhattan and one has moved from Manhattan to Chicago. It will be interesting to see how many people will stay in London with their bonuses taking a 20% hit and the city being so much more expensive than NYC.
Moscow will rule all soon -
Moscow will rule all soon - you will see! :D
no way. Have you seen whag
no way. Have you seen whag the uk govt is doing to banks? They won't overtake nyc.
PiperJaffrayChiang wrote: the
the universe has no center...
Why is this guy still here? I thought he was banned.
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I think London has many more
I think London has many more emerging markets-focused shops, something NY sorely lacks, which should hold them in good stead going forward. As far as lifestyle differences, I'm sure others can chime in but I wouldn't live/work in London to be honest.
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London's burning, London's
London's burning, London's burning.
Fetch the engines, fetch the engines.
Fire fire, Fire Fire!
Pour on water, pour on water.
London's burning, London's burning.
hahaha...what a joke.
hahaha...what a joke. Feasibly, london could never be the center, mainly because of their reluctance to accept the euro currency, and their unfavorable laws and taxes rules. This has made it more and more uninviting for foreign companys and investors. However, London will always be the financial center of the european continent, mainly because of their english language, which makes it the easiest and inviting place for foreigners to do business in the european continent.
Second, as far as what city is best, new york wins without a doubt. New york is center of everything. period. I can't believe there is even a debate. Just take a look at our city skyline if you are wondering how business is doing, regardless of the temporary crisis.
London...bad weather, bad food. overpriced everything....a perfect recipe for unhappiness. need i say more?
however, Brits don't be too sad, because the one thing that London as well as every other european country has is a long rich history. something america can never change or acquire.
Say what you like about
Say what you like about London, but one thing London certainly does have is an abundance of great tasting food. I'm fat, I should know. Thanks to the large number of Indian, Pakistani, Turkish, and other immigrants, London's food scene is extremely metropolitan. I grew up in Asia so I think I have a good sense of what real Indian and other ethnic food should taste like; the Indian food in London far outstrips anything I've tasted in America. Plus there is the whole, Paris-is-right-next-door, thing: some of the best restaurants in the world are only a train ride away.
Culturally, in London you're surrounded by history, that may or may not be your cup-of-tea. I find it rather fascinating but that's just me. To me though, the main attraction of London is its cleanliness; that's not something I can say about New York. I have an obsession with cleanliness, which is why I love Singapore so much, and I just feel that Londoners take care of their city more than New Yorkers do. Again, most people don't care about something that minor. But I really do feel like the Subway is a stain on New York's reputation. It's dirty and seemingly lacks any of the technological innovations of the past decade. For instance, it would be nice to have one of those clock things that told you how long you have to wait until the next train arrived.
But on the other side of the coin, New York seems so much more lively. From Broadway to the Bronx, you can just feel the energy of the place. I love the go-getter, Type-A personalities that seem to dominate New York. Though these type of people also exist in London, I just feel it is more intense in New York. The clubbing and dinning scene in New York also seems to trump London. Nothing annoys me more than fake-ass British, "gangsters" thinking that their little pocket knives intimidate me, or anyone else for that matter. British street culture seems to be a carbon copy of American culture in some respects, with a slight British tang to everything.
Finally, New York seems less racist. As an African American, this matters to me. Yes, I cannot get taxis to stop for me in New York just like any other black guy (even though they do stop for me in London); I still feel that, on the whole, race is less of an issue in New York than it is in London. I am less conscious of being black in New York than I am when I am in London, mostly due to the recent immigrants bringing their racist garbage along with them from wherever they came from. Londoners who have lived there for a while seem like completely decent people. While most Londoners may pretend race is not an issue and smile to your face, I still get this odd sense of their being an undercurrent of racism in England that is far greater than that in the US. Just look at the British National Parties meteoric rise if you're looking for proof of the silent minorities deep seated racism. Remember, England never had a civil rights movement in the way we did.
monyet wrote: For instance,
For instance, it would be nice to have one of those clock things that told you how long you have to wait until the next train arrived.
.
Completely agree with you here. NYC's subways system is pathetic compared to the Tube.
WegmansTuna wrote: monyet
For instance, it would be nice to have one of those clock things that told you how long you have to wait until the next train arrived.
.
Completely agree with you here. NYC's subways system is pathetic compared to the Tube.
If you think New York has a pathetic subway system, come to Houston and you will be thanking the MTA for the ultra-convenience of not having to pay $15 for parking every time you want to go somewhere downtown.
Wall Street leaders now understand that they made a mistake, one born of their innocent and trusting nature. They trusted ordinary Americans to behave more responsibly than they themselves ever would, and these ordinary Americans betrayed their trust.
Watch out for Shanghai.
welcome2nyc wrote: Second, as
I beg to differ, as I have
Love the profile pic
Reality hits you hard, bro...
monyet wrote: But I'm
welcome2nyc wrote: Feasibly,
WegmansTuna wrote: monyet
Just to be clear, how many of
brotherbear wrote: Anyway,
welcome2nyc
Great thread. For a more
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Step 1: Dream the Dream || Step 2: Live the Dream || Step 3: Rinse, repeat.
Meh, as long as they are good
And there's no question
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maxc wrote: And there's no
NYC weather >>>> London
I think it's a tug of war
nauru wrote: Is this a joke?
well i think the best way to
also.... london and new york
Great post Welcome2NYC, I
maxc wrote: nauru wrote: Is
you know. i used to complain
monyet wrote: Great post
Step 1: Dream the Dream || Step 2: Live the Dream || Step 3: Rinse, repeat.
From a European standpoint,
People often talk about Asia
I think Chinese market is
Doing business in UK
I see no reason for this
PorcineAviation wrote: I see
I've heard a lot of people
welcome2nyc wrote: well i
http://en.wikipedia.org/wiki/
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Love all, trust a few, do wrong to none.——William Shakespeare
Great argument: "New york is