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Moscow Ranked Last of Worldwide Commerce Centers
MasterCard Worldwide has released its ranking of 50 cities that drive global commerce; Moscow’s score is the last there.
Moscow’s score is average only when it comes to the extent of financial institutions’ development. But the remaining five indicators of the city don’t inspire optimism.
The ranking of MasterCard is based on the company’s Worldwide Centers of Commerce Index compiled by a team of eight experts led by Dr. Yuwa Hedrick-Wong. The core dimensions are legal and political frameworks, economic stability, ease of doing business, financial flow, business center and knowledge creation and information flow.
London holds the top spot having outpaced New York and Tokyo in a number of key indicators. The list of ten leaders also sets forth Chicago, Hong Kong, Singapore, Frankfurt, Paris, Seoul and Los Angeles.
According to the masterminds of the report, the better part of global financial market is concentrated in 20 trading floors. Tokyo, for instance, is focused on platinum, Buenos Aires handles financial part of sunflower contracts and London is particularly concerned with potato futures.
www.kommersant.com
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