New York ranks first as a global business centre in a worldwide survey of cities, London, Paris, Tokyo and Hong Kong all trail the Big Apple on the Global Cities Index. But Beijing and Shanghai emerged as potential rivals within 10 to 20 years, according to the index.
The survey - conducted by Bloomberg and consultancy A.T. Kearney - examined 66 of the world's busiest commercial urban centres, judging each on the scope of its business activity, labour force, access to media and information, cultural amenities and political influence. The goal was to find a measure that would help corporate and government decision-makers determine which of the world's cities will best attract and shape the future flow of people, ideas, capital and goods.
New York may be challenged to retain the top spot. Trends that may reduce its influence include "the growing chasm between the very rich and the poor," said James Parrott, chief economist at the Fiscal Policy Institute, a New York-based research and education organization backed by organized labour. "It weakens our consumer base, makes it harder for the city to remain a truly open society with lots of opportunity, and - although it's a national problem - not enough local leadership has been focused upon redressing that."
Polarization over politics in Washington, driven by "backward-looking perspectives held by people who even deny the reality of climate change, presents a risk for the city and the US in competition with the rest of the world in the 21st century," Parrott said.
(03.05.2012) Sources: Bloomberg
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