The Economy of New York City - The financial capital of the world?

[@kachhh]

This video is so high quality that I’m honestly shocked your channel doesn’t have hundreds of thousands of subscribers yet. Keep going at it!

[@economicsinaction]

Thanks for the comment! The algorithm gods get to decide :)

[@RichardCharlese3o]

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There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist.

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My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

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[@thecircuitofthecars8028]

The city economy videos are the best. Can you please do more of them?

[@economicsinaction]

I'd love to! Although it'll be a while before I can get them uploaded, got a few other topics ready for upload. Thanks for the support as always :)

[@okayok1221]

Another high quality video!

[@economicsinaction]

Thanks for the support! Glad you liked the video :)

[@economicsinaction]

Which city is the financial capital of the world? P.S. Apologies about the ERNIE canal and not the ERIE canal. That's what happens when a typo makes it to the script :)

[@bvagasky83]

Didn't even notice lol

[@switzerlandch4986]

There isn't one, but several. Perhaps New York for North America; London, Paris and Berlin for Europe (London and Paris mostly); São Paulo for South America; Sydney for Oceania; Singapore for Asia and I don't know what is the financial capital of Africa. In fact, can you make a video talking about Africa?

[@economicsinaction]

@@switzerlandch4986 Fair point, there's definitely more than 1 financial hub around the world without a doubt. Sure, I have a view videos about African countries/unions/organizations in the pipeline. Stick around :)

[@switzerlandch4986]

I'll definetively stick around

[@kylennelson5043]

i dont mean to be so offtopic but does anybody know a tool to get back into an Instagram account? I somehow forgot my account password. I would love any help you can give me

[@GB-uc3ni]

Never change bro.. this was a brief history lesson and a calculated prediction of future. Still love the small nods of humour which pop up every now and then.

[@economicsinaction]

Thanks for the comments as always! Appreciate the support :)

[@marvinstenersen8083]

Another amazing video! 👏

[@economicsinaction]

Thanks :)

[@bvagasky83]

Another great video, and one I've been waiting for to come out! I'm not from NYC, but I am from the aforementioned "metropolitan area," up in Connecticut. One thing I'm surprised did not make it into the part about NYC's economic history is a blurb about how organized crime, especially the Italian mafia, impacted the history of the city throughout the 20th century. You couldn't hardly run a business, build a building, or go on strike without some degree of mob involvement. But I digress. Maybe the economic impact of organized crime deserves its own video some day. Again, wonderful video!

[@economicsinaction]

I'm glad you enjoyed it! Great point! That would be an interesting topic for a video, I'll add it to the list. Thanks for the support :)

[@AnhTuPhucDerrickHoangCanada]

For a city to absorb speculative losses is a huge blow to it.

[@bhuveshkumar2015]

Great video!!!

[@economicsinaction]

Thanks :)

[@TucsonArizona]

Interesting video! Thanks for sharing! Keep the info coming well into the new year! New subscriber here!

[@economicsinaction]

Thanks for the sub! Happy New Year to you too! :)

[@filmsandmovies988]

You make really good videos. I will sub to you and like the video to help you fight the algorithm, however you need to work more on the personality of the channel - the thing that makes your channel different from others, because I find the style of your videos really similar to EE's. I mean the quality is fantastic and I really hope you become a big and successful youtube channel.

[@economicsinaction]

Thanks a lot for the feedback, I really appreciate it and thanks for the sub! :)

[@Chandankumar-qw6hb]

Yes

[@ПётрВакулов-н2ш]

Скажите пожалуйста, какая реальная польза биржевой системы в Нью-Йорке на развитие экономики страны, когда цены на акции какой-либо промышленной корпорации растут, благодаря фиктивным рейтингам, вне зависимости от количества производимой продукции и спроса на неё, и когда акции так же стремительно падают, из-за такого же фиктивного вброса в СМИ, при том, что корпорация продолжает работать в штатном режиме и продавать свой товар на рынке? Неужели для американской экономики является благом, когда на бирже разоряются тысячи мелких инвесторов, а крупные игроки забирают себе их накопления всей жизни?

[@yukihirasouma4691]

It would be interesting if you review the US territories like Puerto Rico.

[@economicsinaction]

Thanks for the idea :)

[@piguy3945]

Yay its finally out!

[@economicsinaction]

Do we have a native New Yorker?

[@TheCinemaViewer]

@@economicsinaction I’m a born and bred New Yorker! I love my city. Thanks for the video!

[@piguy3945]

@@economicsinaction Yessir! Queens!

[@economicsinaction]

Glad you liked it! I'm yet to visit, but it's on the bucket list :)

[@economicsinaction]

Want to support the channel!? Just check our ❗CHANNEL SUPPORT BOX❗ ⬆️in the description box above ⬆️

[@hamimislam6660]

Is financial services geography dependent ? Why can't all of financial services be sourced from cheaper labour cost cities like Shanghai and Mumbai ?

[@economicsinaction]

There are multiple reasons for why the capital(s) of financial services are not in cities like Shanghai and Mumbai. Firstly, you have to consider the historical advantage that cities like New York City and London have. They have been the global capitals of finance before China and India began to open up their economies and therefore benefit from their starting positions. Secondly, you have consider the talent available. Many jobs across finance require workers to obtain specific certificates that allow them to be officially qualified for a specific financial service. Much like the CFA program for financial analysts. Thirdly, you have to consider the regulations framework and industry environment, is it easier to do business in London or Mumbai? Are you more connected to the global economy in New York City or Shanghai? There are many other reasons, but hopefully this answers your question :) Things are not set in stone, financial services can move elsewhere and in my opinion we will see more importance be given to cities like Shanghai and Mumbai over the coming decades. The ability for a financial center to adapt to the new realities of the global economy and attract talent will be two of the main reasons that allow it to prosper.

[@piguy3945]

Oh you should also do economy of Flushing, NY! What started off as a humble immigrant settlement rapidly expanded into the largest US Chinatown and has a lot of foreign investments (Mostly mainland China). It looks like a completely different country!

[@economicsinaction]

Interesting! I'll check it out, it'll get a place on the to-do list :)

[@LeoStaley]

For fuck sake KZbin, I subscribed here for a REASON, months ago. Why haven't I seen these videos??

[@angelachanelhuang1651]

heinken is beer

[@snowflakeman6000]

Are you the same guy that does the one piece videos?

[@economicsinaction]

One piece videos?

[@christianrodriguez4271]

$60k per capita? Thats poverty level in NYC…

[@sunlite9759]

Apparently you haven't been to NY lately.

[@corentinguillo5577]

Did you just make the one world trade center explode?

[@kolkatadays]

Sanghai can , but if you think mumbai ,, lol it will never because there is soooooo much corruption in india . Especially in mumbai.

[@ro6191]

Tokyo is the biggest city in gdp

[@charlieordaniel6914]

But New York is the richest city i assets

[@aradhanagarments490]

Mumbai will goimg to be next global financial capital

[@economicsinaction]

In which year do you think that will happen?

[@SlothyWoffy]

@@economicsinaction 2400

[@Nareshkumar-lq3ve]

@@economicsinaction 2041

[@kolkatadays]

If you not belive , try to open business in mumbai . 🤣🤣🤣🤣