London's embrace of globalisation has enabled it to edge ahead of even New York
Ken Livingstone, the Mayor of London today commented on the McKinsey report outlining that London had edged ahead of even New York as the world’s leading financial centre. Speaking at his weekly press conference, the Mayor of London said: 'The McKinsey report commissioned by the Mayor of New York recognises London is ahead of New York as the world's number one financial centre. By last year the London Stock Exchange had 419 international companies listed on it compared to 174 for the New York Stock Exchange.'
(Media-Newswire.com) - Ken Livingstone, the Mayor of London today commented on the McKinsey report outlining that London had edged ahead of even New York as the world’s leading financial centre.
Speaking at his weekly press conference, the Mayor of London said:
‘The McKinsey report commissioned by the Mayor of New York recognises London is ahead of New York as the world's number one financial centre. By last year the London Stock Exchange had 419 international companies listed on it compared to 174 for the New York Stock Exchange.
'As with London's other international achievements in the last period, such as winning the Olympic Games, London achieved this success by adopting a strategy of being the city that embraces globalisation. The Financial Times rightly notes this morning it was the attractiveness of London to Chinese and Russian companies that pushed London ahead of New York, based on our principles based regulatory regime and the economic and cultural openness of London to new economies. We must repeat this success with Indian companies.
'There is however no room for complacency at all. New York is the most formidable competition imaginable. London must both continue to invest to maintain its position, above all with Crossrail, and resolutely continue down the path of embracing globalisation in its regulatory, economic, social and cultural policies to maintain this position as a world leader.'
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