Center of the Universe: London vs New YorkO
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?