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I stand corrected. LA is not a city of BIG BUSINESS. How many times I have to repeat this? You might need a college degree to understand this
Having a large GDP does not mean LA economy is made up of big business. If you failed to realize this then I can't help. Funny that this guy keeps bringing up the economy output as if its the only thing LA can count on. Heck, Mexico city's GDP is even larger than SF, Boston so what??. LA is a manufacturing base city with a metro of 13+ million, its GDP must be larger.
Remember, the industries that you guys have in LA are important only to that region and not crucial to the world . Seattle, Boston, San Francisco are the brainpower of US when it comes to technology and education. Chicago & New York are a global power in business & finance. What is the role that LA plays in today's global economy and competition? Eating sushi on a naked body like one LA writer wrote? If the world were a movie then LA would be a struggling supporting cast.
Chicago is lagging behind? oh yeah...and then why did the Foreign Direct Investment institution name Chicago the city of the future, and not LA??
Once LA joins the list of the cities of the future, we'll talk, OK?
Quote:
Originally Posted by TheRealAngelion
milquetoast, you don’t need to explain yourself. Anyone with a high school or even junior high school education has the intellectual capacity to figure out that third largest metro economy in the entire world, only behind Tokyo and New York, could not be built on small business. LA’s economy is one of the most diverse in the world as is Chicago’s, New York’s and that of every other major economic player.
Anyone who says...
does not know what they are talking about and should not be taken seriously. Chicago is the city that's "lagging behind"at the moment.
All you have to do is point to the facts. And even Chicago’s very own economic development corporation, which is chaired by Mayor Richard Daley, confirms that LA’s economic output and growth is superior to that of Chicago’s.
Gross Regional Product (GRP) 2005
New York $995B
Los Angeles $637B
Chicago $423B
Percent growth in GRP 2000-2005
Los Angeles 15% U.S. 13%
New York 11%
Chicago 5%
Private sector job growth 2000-2006
Los Angeles 86,500
New York -34,500
Chicago -75,400
Not only is Chicago's economy smaller, it's growing at a much slower pace than LA or NY. Plus, Chicago is loosing jobs. Another sign of competitive weakness.
San Francisco is the business & finance center of California and the West coast. if SF gets hit by an earthquake it could bring a disruption to the U.S. economy.
That's correct, KerrTown. The city of Houston has 22 Fortune 500 companies while the city of LA has 5. If Houston get hits by a major natural disaster, it will be a blow to the U.S. economy.
Quote:
Originally Posted by KerrTown
If Houston gets hit, Angelenos just kiss your automobile-centered lifestyle goodbye. New York could survive but everywhere else can't. The SoCal lifestyle is just plain unsustainable.
Actually the traditional center of Catholicism in America is Baltimore. If the pope designated the Primate of the United States, it would be Baltimore not Los Angeles.
Until new cities can prove their worth, yes. LA, Chicago, and New York are the main economic driving forces of the United States right now, and places like Houston and Dallas are just not nearly as big.
Well the West Coast faces the Growing Economies of Asia,so that should give you a hint of how important the Cities on The West Coast is becoming...The Cities in the South are also rising up.
Well the West Coast faces the Growing Economies of Asia,so that should give you a hint of how important the Cities on The West Coast is becoming...The Cities in the South are also rising up.
Our entire country faces the financial rise of the Far East. The cities on the West are no doubt important, but finance is not limited to region.
I know,but the West is located at the Front Entrance,which gives it more of an Advantage.
For trade, definitely. But the stock market and most of the USA's largest financial companies i.e., JP Morgan Chase, etc. are headquartered in NY (not that it really matters because I'm certain they have offices in LA, just the way LA has offices in the East) The stock market and the economy won't effect the West OR East, but the whole country
Until new cities can prove their worth, yes. LA, Chicago, and New York are the main economic driving forces of the United States right now, and places like Houston and Dallas are just not nearly as big.
Yes, that's true when looking at the ecomony by metro areas. When looking at it by states, it's a whole other story.
Nevertheless, I'm impressed that after Chicago, Washington, D.C. is fourth in size of metro economy. They are only about $100 billion behind Chicago in GRP. And, D.C.'s economy is also the fastest growing in the nation right now. I suspect that D.C. will overtake Chicago from an economic standpoint within the next 10 years. That will be pretty amazing as most probably assume that Houston would be moving up into the third position.
Yes, that's true when looking at the ecomony by metro areas. When looking at it by states, it's a whole other story.
Nevertheless, I'm impressed that after Chicago, Washington, D.C. is fourth in size of metro economy. They are only about $100 billion behind Chicago in GRP. And, D.C.'s economy is also the fastest growing in the nation right now. I suspect that D.C. will overtake Chicago from an economic standpoint within the next 10 years. That will be pretty amazing as most probably assume that Houston would be moving up into the third position.
D.C.? Not with the national debt and the political instability. Houston could be more successful because oil is surging but then most here would end up moving to Dubai to flee the political instability. (See Halliburton.)
Quote:
Originally Posted by downtown1
LA is a manufacturing base city with a metro of 13+ million, its GDP must be larger.
I had forgotten that clothing is manufactured there. There was an interesting documentary about the sweat shops in L.A. and L.A.'s growing clothing manufacturing sector. I wonder what will happen when L.A. has its own Triangle Shirtwaist factory fire? How did L.A. become a clothing manufacturing centre? Was it related to the Mob in Midtown Manhattan obstructing the deliveries?
Last edited by KerrTown; 09-30-2007 at 08:24 PM..
Reason: Halliburton
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