Great piece by John Gapper over at the Financial Times on "NyLon" - the twin "city-states" of New York City and London.
NyLon is also part of the phenomenon of the city state. Coastal and entrepôt cities around the world are outgrowing the nations that contain them. Dubai and other Emirates states are reinventing themselves as financial centres and a token of Shanghai’s rapid growth was the appointment this week of Xi Jinping, one of the city’s leaders, to the ruling Chinese politburo. Meanwhile, New York’s fortunes have decoupled from the US in the past year or two. Home prices have plunged in California and Las Vegas but have kept rising in Manhattan and, while the US economy grew by only 0.7 per cent in the first quarter of the year, New York City’s economy grew by 4 per cent.
Our own research confirms this. So, hot off the press here's a link to our new research identifying the 40 mega-regions that truly drive the world economy.