Is New York Finished As A Global Financial Center?

Posted by: Bruce Nussbaum on October 10, 2008

I’m a member of the Council on Foreign Relations (from my editorial days) and here’s a thoughtful essay on the impact of the current financial crisis on New York City, the U.S. and the global economic system.

Is New York finished as a global financial center? No. But it may not be paramount. Ditto for the U.S. It’s The Rise of the Rest— as Fareed Zakaria says in his new book, the Post American World.

Reader Comments

aj

October 11, 2008 8:27 AM

You just authored a post citing a WEF study claiming the U.S. is still the most innovative economy on the globe. There is no reason this does not extend to the financial industry.

Wall Street will continue to be the leader in innovative financial products, and despite the current maladies will eventually rebound. Who is going to take the place of New York...London?

Zakaria's new book is irrelevant. No one else has the talent or organizational capabilities of the U.S. financials even in our weakened state.

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