Why LONDON grows faster than NYC? – VisualPolitik EN

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It seems like a lot of movies have been shot
in London lately. One example is Bridget Jones’ Baby, the
latest episode from Bridget Jones saga which I might have seen… Look at those skyscrapers in the background,
those were simply not there in the first movie of the saga. In fact, London´s skyline has changed dramatically
in the last 10 years. And this is surprising because we are not
talking about an emerging economy like China or Singapore. Actually, the overall economy in the UK has
not performed especially well in the last few years. However, London is another world. Today it is one of the four fastest growing
capitals on the planet – growing almost at the same level as Dubai. Their population has increased by 50% rate
in just two decades. This is particularly odd in a continent like
Europe, where all the countries are seeing overall population decline. Instead, London has 3 million more inhabitants. And in the finance world, London city is now
more important than New York City itself. So, you might wonder what exactly happened
in this city which would explain this massive success? That’s what we’re looking at in today’s
Visual Politik video! IMMIGRATION United Kingdom has always been a country of
immigrants. And, London was always the main destination. Nonetheless, in the last decade, immigration
has absolutely skyrocketed. After Poland became part of European Union,
in 2004, a lot of Poles moved effortlessly to the city as no visa was required. The same happened when Bulgaria and Romania
became EU members in 2007. This created a whole new influx of immigrants
that added those from India or Pakistan. These European immigrants typically have higher
education and university degrees. In fact, today London has over 1.7 million
highly skilled workers while New York has just 1.6 million. Immigrants are not only working the jobs Brits
don’t want to do anymore, but they are also starting businesses and getting hired by high
tech companies. But companies are far more than just job creating
machines, or factors that boost economic growth. The fact that London has more well educated
people means more bars, more exhibitions, more culture… In summary, all the things that make a city
look “cool”. As an example: Where is the best Peruvian
restaurant outside of Peru? Well, according to all the gastronomical guides,
it is CEVICHE, and of course, it´s in the British capital. And this is how London created a virtuous
circle that attracted more and more people. This is why, in 2008, after the financial
crisis, many Spaniards, Portuguese and Italians who wanted to leave their countries, saw London
as the main destination. It was more than just a good place to find
a job. It was a cool place to live. This is what economists call the “NETWORK
EFFECT”. The more people and the more companies you
have, the easier it is to attract highly skilled immigrants. For a better understanding, since 2010, over
1000 startups have been created In London every single year. But hold on a minute because there is more! THE CITY OF LONDON All the skyscrapers you see here are concentrated
in an small area, not bigger than a square mile. This place is called the “CITY OF LONDON”. Yes, on the one hand, we have London, and
then, there is the City of London, which works like a country of it’s own within the United
Kingdom. Yes, we British usually say that Great Britain
is made up of four nations: England, Wales, Scotland and Northern Ireland. But this is not exactly true… In fact, we should add a fifth one, and this
is the City of London, which has its own Mayor and its own laws. London’s Mayor is the man you are watching
on the screen now, his name is SADIQ KHAN. But the City of London has its own Lord Mayor,
he is called JEFFREY MONTEVANS. One of the characteristics of The City, AKA
the Square Mile, is that during the elections, both citizens and companies have the right
to vote. For instance, Unilever has it’s headquarters
here in the Square Mile. This means that when elections are held, Unilever
can vote. So, you might wonder… Does the vote of Unilever count the same as
one from a smaller company? The answer is no. The number of votes a company gets will depend
on how many people they employ within THE CITY. By the way, the music that you are listening
to is THE FORGOTTEN VOICE, a pop-rock band from Ireland who sent us their music. If you like it, you will find more information
on the description box below. And now you might wondering whether the City
of London a FISCAL HAVEN? The answer is NO. All across UK, taxes are fairly similar. But it is true that the Square Mile has far
more business-friendly policies than anywhere else in the UK. For instance, their urban development laws
are way more open and free than in the rest of London – this is why they have more skyscrapers. But when it comes to taxes, they are not a
haven whatsoever. But hold on a minute… The City itself does play a very important
role. This is because the Lord Mayor’s main task
is travelling all around the world promoting London’s benefits for investment. “The Lord Mayor of the City of London, Alderman
Alan Yarrow, is to lead a business delegation to Indonesia (19-21 May) helping to make sure
London and the UK remain the regional partner of choice when it comes to financial and professional
services.” So, in a way, you can say that London has
its own marketing department showcasing all their advantages to the world! BUSINESS CONCENTRATION The US economy is divided among different
cities. For example, politics is centered in Washington
DC, finance in New York City, entertainment in Los Angeles, and technology in San Francisco. The same happens in Germany, where you have
cities like Berlin, Frankfurt or Munich. And in Spain, you have Barcelona and Madrid… Britain on the other hand has London… and
just London. The rest of the cities are far less important
for British economy. In fact, London makes 1 out of every 5 pounds
generated in the whole country. In this city you will find all the major Government
institutions, the banks, the technological sector, the fashion centre, etc… And to this, we should add another key element:
English. As you know, the UK has held pretty good relationship
with United States (at least for the last two centuries.) Even though there is no trade agreement between
the two countries, they have much history in common and, most important of all, we both
speak the same language. Add to this the fact that United Kingdom is
(currently) a part of the European Union and you can easily understand why London has become
the gateway for any American company wanting to do business in European markets. But now the big question is how will BREXIT
affect London’s growth? One thing is clear: even though the majority
of the British population voted in favour of leaving the EU, Londoners wanted to REMAIN. So what do you think? You can leave your answer in the comment section
below. And don’t forget we upload brand new videos
every Monday and Thursday so hit that subscribe button if you don’t want to miss any of
that good stuff. As always, for those who want to dig deeper
on this topic, you can check the links on the description box below. And if you like this video, give us a thumbs
up. And see you next time!

100 comments

  1. The UK is unique as most countries have a very clear 2nd city, that is roughly half the size of the 1st City (this is usually the capital but not always) London though dwarfs every other conurbation in the UK , with about 8x the population of the next biggest (Manchester, Birmingham and Glasgow are roughly about the same size). The US is also different as the whole country has expanded over the last two hundred years but early on the two big ones were NY and Chicago and now LA. Lots of historical reasons why. Most Brits have a love/hate thing with London, great place to visit, culture, museums, parks, history etc. But super crowded, really expensive and a little bit full of itself.

  2. Some people seem to get very upset with the “nation of immigrants” line. I happen to think it is true and has been enormously to our benefit. London has lots of little enclaves of poles, Serbs, Jews, Indians etc etc many of them into 3rd, 4th,5th generation. Older influxes like the Hugenouts have also brought change in their time. The Greater London borough with the highest turnover of population is Barking (yes I know technically in Essex) which churns about 10-15% of its population every year, in just my lifetime there were waves of poles, Asian Ugandans, Somalis and Syrians living there all adding their own flavour to the place. If you find it hostile in some way, you need to look at yourself.

  3. It is not correct to say that the majority of the British population, wanted The UK to leave the European Union. Only 72.2% of eligible voters cast a vote. The results were 52% leave and 48% stay of those who voted. This gives a result of 37.5% of eligible voters voted to leave. Sorry to be pedantic, but we have a language and we must use it correctly.

  4. I live in the UK and I've lived in London for a while. The worst neighbourhood I think I have lived in the whole of all cities I've lived. Stepney Green just feels like an Arabic country has nothing British over there. I was so happy when we moved from there and I'm counting the hours to leave this country.

  5. Brexit will lead a revolution of prosperity for the UK (assuming a hard brexit where they tel lthe EU to fuck off completely)

  6. get rid of that terrible, unfitting music and your video would be much more professional. Oh! And by the way, the UK was NOT always a country of immigrants. Only after the second world war have immigrants been coming to UK in any numbers worth mentioning

  7. Great commentary but please no music. Also you stopped where it became interesting. What will happen to the City when England leaves the EU?

  8. "Europe, where all the countries are seeing overall population decline"
    Many EU countries have seen their population increase year after year for decades on end. What are you talking about?

  9. Countries who declare that they need immigrants to do the jobs that the citizens of that country won't do is self-serving bullshit.
    OK. Who believes in Capitalism? All of you. Well how about that.
    So in a Capitalistic society if nobody wants to do a job then according to the theory the offers of wages should keep going up until people start working in that job. Right?
    Wrong, because whoever is in charge says that if wages go up nobody will buy the item or service.
    So if you want someone to wipe your bum for a dollar an hour and complain if they won't do it for less than $100 an hour who's fault is that?

  10. The music hurts the video! Bloody awful noise. I haven't been to London in 20 years and my recollection is that it is a very cosmopolitan city. I stayed at the Savoy, visited Roman ruins, The Tower, Parliament building, Picadilly, Notting Hill. There's so much to see and do it might take a year or more. If London has a downside, it is one that they share with every other major cosmopolitan city: it's really crowded, traffic sucks big time, and of course it is a very VERY expensive to live.

  11. In my reply to one of this channels other videos I suggested they were Leftie snowflakes. Having heard the words "The UK has always been a country of immigrants' I can now confirm this to be the case. Apart from it being simply NOT TRUE (for a more informed and true analysis of this checkout 'The Strange Death of Europe' by Douglas Murray) it is something that is continually trotted out by the Left to shut people up who complain about immigration. Considering the amount of information videos these people put out I think its about time they started to cite their sometimes wild claims.

  12. Simon you should break down your rise to fame. I watch you tear up almost every subject known to man. You are an inspiration to so many and i thank you for your tireless efforts to capture your audience and inform the world. If you need a subject come to Keywest.

  13. 1. British trades have been decimated by EU immigration. Why invest in apprenticeships when you've got a constant influx of unskilled and skilled labour willing to work for less money. Soon those building sites are dominated by Eastern Europeans who guess what – then hire all their mates.
    2. It's not a case of people not wanting to do the work – it is the case that cheap foreign labour (adored by big business) works for less and so they are the ones hired. Brits used to pick their own fruit, and clean their own buildings you know. The same thing is happening to the health sector in many countries whereby nurses imported wholesale from South-East Asia are hired more cheaply than the locals. People wonder why the economy is growing but wages have stagnated – it's basic supply and demand. There is an oversupply of cheap labour.

  14. This just seems to rejoice immigration lol london hasn’t completely changed for the better. why the random Spaniard narrating this lol

  15. "Britain is made up of four nations…" The United Kingdom is made of four nations. Britain is made up of three nations. Northern Ireland is not in Britain and never was.

  16. When London holds so much sway over the British Economy, Brexit may pose a threat. However, when you consider how much of that money is spent within London, perhaps those figures in Glasgow ect may change with a little self investment? Im hoping for the best here…expecting the worst. But the UK needs to start looking at all of its people and not just the few regions in the South who seem to be doing much better. Reductions in Skilled foreigners may create a void that can then be filled with local talents and also offer insentives for National Brits to educate themselfs and fufill these roles..

  17. London is much bigger than this still because they don't include Watford or harrow hemel Hempstead and many others I love in Watford and we have a London postcode so its not really reliable

  18. Frank Ward I think the UK has made the right decision to leave the EU. They can still be prosperous trading with the US, Canada, Australia. various south American countries , Russia and China. The EU should just be an economic union but the EU wants to control all aspects of individual countries. EU countries are giving away their sovereignty and will soon lose their culture. It really pains me to see Ireland who fought for their freedom for 800 years who now elect people to represent them but decisions are made by EU officials who are not elected.

  19. You need to define what you mean by "growth". Actually – and this is even more true now than at the time this video was produced – the only significant growth in London is an enormous wealth divide, together with unsustainable property prices which make London's huge workforce now unable to live anywhere near the city itself unless you consider living in a tiny bedroom within an overpriced rabbit hutch of an apartment is your idea of "success". London has become a hell hole to live in. It is dirty, over-crowded, polluted, under-policed, infested with petty and serious theft, knife crime, gun crime, poor education, broke hospitals and squalid housing. It does have thousands of eateries and tourist traps, and a huge amount of investment in all the wrong things, including property which is purchased then left empty by visiting wealthy who contribute nothing to London's economy. There has been a very large contingent of people leaving London despite growth of Eu and other immigrant workers but that is beginning to fall away now as it is becoming impossible to attain any kind of reasonable living standards. More than two thirds of London employees are on subsistence wages and no-one can afford to live there, which is why London's suburbs are now grossly over-crowded.

  20. London may be growing, but it will never catch up to New York in terms of economic output. In fact, the economy of Los Angeles, America's second wealthiest city, is bigger than London's.

  21. London is also the New Stabe Capital of the World. You have more chance of being stabbed in London now than in New York. 2018 Statistics!!

  22. London grows fast because UK steals other peoples products then sells those products back to the people we stole them from.
    Hey that's my tea.
    No it's not.
    Well it's can be yours for some money.
    Ok

  23. I Guess UK(Especially London) Is Experiencing A Reverse Or ANTI COLONIALISM By The Immigrants Coming & Settling There. Enjoy The Karma Created Because Of What Your
    Ancestors Did to The Countries During The British Empire.

  24. Correction as regards Brexit, which it looks like we will be able to stop, and the way the constituent nations of the UK voted: Gibraltar, Northern Ireland, Scotland, and North Wales voted to remain; South Wales and North England voted to leave. It's far more complicated than that, as has been shown by the last two years debacle…. Sufficiently to say we still don't know what the end point of the whole process will be. However, I am becoming slightly more confident that we can prevent the UK falling off the Brexit Cliff.

  25. Thanks to the morons who voted for Brexit and were fooled by Brexit propaganda leaving the EU will be the single greatest financial disaster for Britain ever, resulting in up to a 10% loss of GDP, far worse than after the financial crash of 2008. Thanks Brexiteers for reducing the UK to third world status. Of course the banks and big business are leaving in their droves.

  26. Because its built on wealth and bones of its colonial past. They literally bleeded commonwealth for prosperity (like sociopath).

  27. England does not tax income on world wide income – so hedge funds offshore make money tax free – brilliant move by England – America taxes "tax residence" just like regular citizens – so the obvious move for young hedge fund managers go to England

  28. The City of London is in favour of Brexit – not London as a whole, however. They are not a separate country they are subject entirely to Central Government like any city, it is a separate local administrative area. The Lord Mayor is appointed by the Guilds of London, how many people they employ and their vote depends on their membership of the guild. This is not democratic it is essentially a cartel, however, their power is limited to local government. Since the inception of the EU, there has been a push to greater independence from regulation for the city and the legal fiction of their statehood helps this.
    The City of London will trade tariff-free between markets over the world when they leave the EU. Frankfurt has always wanted this crown, as they have stolen our heavy industry but to leave would be to stop this plan not fulfil it.
    Currently, more money goes through the City in a day than the entirety of GDP. The status of the City as a haven from regulation and tariffs help this

  29. I want to thank you for telling me about this I am going to say something no one wants to hear the Europeans countries controls the resources so they are able bounce back up and while poor countries of color do not have that technical ability that is the reason overwhelming immigration to the European countries they enriching European economy

  30. I will never understand why these otherwise very interesting videos have such godawful and loud soundtracks, and those intermission titles which are read by people which sound like they have just learned to talk. The contrast with Simon's eloquence is just baffling.

  31. london is becoming third world shit in the first world, Indians Pakistani Bengalis or black are giving it a non-European image, i don't think the UK will save its white British image feel bad for Uk and every white majority nation

  32. I disagree with the part you said that Spanish, Portuguese and Italians went to London after the crisis because of opportunities. I think you are missing that English is considered the lingua franca and in those countries we were told to go abroad to learn it in order to get better jobs, so the easiest target is always London.

  33. Perhaps if London wasn’t so blatantly economically central to the entire nation and industry was spread out a bit (considering we have three other capitals) then the vote might have gone differently.

  34. The (Secret) City of London by CGP Grey tells it like it really is : https://youtu.be/LrObZ_HZZUc

    Part 2 : https://youtu.be/z1ROpIKZe-c

  35. The UK has not always been a country of immigrants… We can literally just look at the 1950s census an see that's not true. Less than 1% none British, mostly caribiean, and only in one tiny area of London. And that was a large population compared to the years prior to the wars.

  36. I couldnt understand your secondary commentator…… diversity is good but ability to understand is paramount

  37. England's has not always been a country of immigrants! The population from 1066 to around 1950 was stable.

    Also how can you have 'more culture? A country filled with various cultures will only tear us apart. The country has never been more divided than now

  38. Simon, in the intro you say the UK was always a nation of imigrants… Sorry mate, not even close to that. Recently though that's another story altogether. Here's a link: https://youtu.be/_dotSUejWQQ. The vídeo is just a vessel for the sources.

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