The Dutch built Wall Street, and the Dutch will Take It Down
Source:guardian.co.uk
As the US goes through a recession, the unemployment is still staggering at 9%, and the rise of others threatens the economic dominance of the US, one wonders, what is the future of the US economy. There are talks and agreements about selling the ‘big board’, the NYSE but what does that really mean?
The “merge” of Deutshce Borse AG with NYSE would mean the end of Wall Street, as we know it. The wall that was built in 1644 by the Dutch, and in the late 1800s up until today it has been a center for stock exchange. New York has been said to be ’indisputably the world Financial Capital’, however, this buy will definitely mark the end of the dominance of the Wall Street and the US in the world market. The end of the New York as a Financial Capital has been argued throughout the years, Luxembourg, Hong Kong, London, and others have been suggested as worthy of that title, nonetheless, with the new reforms in the markets and the end of the ‘flat world’ and the continuous rise of the ‘sphericalization’ of the economies through globalization which means that Wall Street would be part of a global market, not centered nor dominated by a single entity.
This buy merely signifies the impact of technology on our world today, and the encouragement of the west for capitalism and openness of the business trades. This ‘rise of the rest’ discussed by Fareed Zakaria is an act by Western Societies therefore should not be looked at as defiance but rather a compliance between the large global markets and so we should embrace this change. The world would be more prosperous, and this means better wealth distribution among countries.
It is ironic though that the Dutch built this wall and now looking to take it down slowly to mediate between the Americans and European markets. The East River will surely be flowing further east this year.
The “merge” of Deutshce Borse AG with NYSE would mean the end of Wall Street, as we know it. The wall that was built in 1644 by the Dutch, and in the late 1800s up until today it has been a center for stock exchange. New York has been said to be ’indisputably the world Financial Capital’, however, this buy will definitely mark the end of the dominance of the Wall Street and the US in the world market. The end of the New York as a Financial Capital has been argued throughout the years, Luxembourg, Hong Kong, London, and others have been suggested as worthy of that title, nonetheless, with the new reforms in the markets and the end of the ‘flat world’ and the continuous rise of the ‘sphericalization’ of the economies through globalization which means that Wall Street would be part of a global market, not centered nor dominated by a single entity.
This buy merely signifies the impact of technology on our world today, and the encouragement of the west for capitalism and openness of the business trades. This ‘rise of the rest’ discussed by Fareed Zakaria is an act by Western Societies therefore should not be looked at as defiance but rather a compliance between the large global markets and so we should embrace this change. The world would be more prosperous, and this means better wealth distribution among countries.
It is ironic though that the Dutch built this wall and now looking to take it down slowly to mediate between the Americans and European markets. The East River will surely be flowing further east this year.
