Economy of NYC
New York City’s economy is the largest regional economy in the United States and second largest next to Tokyo. It is the financial capital in the world along with London and is home to the New York Stock Exchange, the world’s largest stock exchange by market capitalization.
The financial, health care, insurance, and real estate industries are the bases of New York’s economy. The city is also important to journalism, mass media, publishing in the United States, and has some of the most famous art centers in the world. Creative industries, such as fashion, new media, advertising, design, and agriculture have a major impact on New York’s economy as well (http://en.wikipedia.org/wiki/Economy_of_New_York_City, 2010).
The financial, health care, insurance, and real estate industries are the bases of New York’s economy. The city is also important to journalism, mass media, publishing in the United States, and has some of the most famous art centers in the world. Creative industries, such as fashion, new media, advertising, design, and agriculture have a major impact on New York’s economy as well (http://en.wikipedia.org/wiki/Economy_of_New_York_City, 2010).
Economy of Tokyo
Tokyo's economy is the third largest in the world. For three decades, Japan has had huge economic growths, which was referred to as the Japanese Post-War Economic Miracle. With an average growth rate of ten percent in the 1960s, five percent in the 1970s, and four percent in the 1980s, Japan was able to maintain itself as the world's second largest economy from 1968 until 2010. However, in the late 1980s, rising stock and real estate prices caused the economy to overheat in what was now known as the Japanese asset price bubble. The "bubble" came to an end when the crash of the Tokyo Stock Exchange occurred in 1990 to 1992. Growth in Japan was then suffering from slower growth than in other more developed countries, giving a rise to the term "Lost Decade."
Now, however, Tokyo's GDP is about 32,608 dollars and the population continues to climax as the years move forward. (http://en.wikipedia.org/wiki/Economy_of_Japan, 2010)
Now, however, Tokyo's GDP is about 32,608 dollars and the population continues to climax as the years move forward. (http://en.wikipedia.org/wiki/Economy_of_Japan, 2010)