tailieunhanh - Sustaining New York’s and the US’ Global Financial Services Leadership

The distribution of scores is also interesting (Figure 2). The modal (the most frequently achieved) score in many countries is 6 (Albania, Armenia, Hungary, Ireland, Malaysia, Norway, Peru, Poland, UK, BVI), whilst some countries have a modal score of 7 (Czech Republic, and Estonia). Just one country, Germany, has the maximum value as the modal value. By looking at the distribution we can see that some countries, such as Albania, Norway, and South Africa have a relatively large proportion of the population scoring between 0 and 2. However, there is no country with an exceptionally large proportion of. | Sustaining New York s and the US Global Financial Services Leadership The City of New York Office of the Mayor New York NY I 0007 UNITED STATES SENATE Dear Fellow Americans The 20th Century was the American century in no small part because of our economic dominance in the financial services industry which has always been centered in New York. Today Wall Street is booming and our nation s short-term economic outlook is strong. But to maintain our success over the long run we must address a real and growing concern in today s ultra-competitive global marketplace more and more nations are challenging our position as the world s financial capital. Traditionally London was our chief competitor in the financial services industry. But as technology has virtually eliminated barriers to the flow of capital it now freely flows to the most efficient markets in all corners of the globe. Today in addition to London we re increasingly competing with cities like Dubai Hong Kong and Tokyo. The good news is that we re still in the lead. Our financial markets generate more revenue than any other nation and we continue to be home to the world s leading companies which help form the backbone of our national economy. In fact for every 100 Americans five work in financial services and these jobs are not just in New York and Chicago. In states as diverse as Connecticut Delaware South Dakota and North Carolina the financial services industry employs major portions of the workforce. All Americans have a vested interest in strengthening America s financial services industry and the time has come to rally support for this effort. To stay ahead of our hard-charging and dynamic international competitors and to ensure our nation s long-term economic strength we can no longer take our preeminence in the financial services industry for granted. In fact the report contains a chilling fact that if we do nothing within ten years while we will remain a leading regional financial center we will no .