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NYC Grows Lead Over London as Global Financial Market
New York City widened its lead over London as the world’s leading financial market in the latest edition of the semiannual Global Financial Centres Index from London-based Z/Yen. The city grew its lead by 17 points compared to the previous edition, although this was due in part to London losing points.
“London is in a ‘slipping second’ position globally and a ‘slipping first’ in Europe, amidst high volatility emanating from policy uncertainties, Brexit, trade wars and geopolitical unrest,” said Z/Yen’s Michael Mainelli.
Rounding out the top 10 were Hong Kong, Singapore, Shanghai, Tokyo, Beijing, Dubai, Shenzhen and Sydney. For the 26th edition of its index, Z/Yen ranked 104 cities based on assessments by some 3,600 financial services professionals as well as quantitative data.
New York maintained its lead in all five areas of competitiveness rated by Z/Yen. These include business environment, human capital, infrastructure, financial sector development and reputational.
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- ◦Economy
