Megacity Economy: How Seven Types of Global Cities Stack Up
Back in 1950, close to 30% of the global population lived in cities.
That since has shifted dramatically. By 2050, a whopping 70% of people will live in urban areas – some of which will be megacities housing tens of millions of people.
This trend of urbanization has been a boon to global growth and the economy. In fact, it is estimated today by McKinsey that the 600 top urban centers contribute a whopping 60% to the world’s total GDP.
Seven Types of Global Cities
With so many people moving to urban metropolitan areas, the complexion of cities and their economies change each day.
The Brookings Institute has a new way of classifying these megacities, using various economic indicators.
According to their analysis, here’s what differentiates the seven types of global cities:
Important note: This isn’t intended to be a “ranking” of cities. However, on the infographic, cities are sorted by GDP per capita within each typology, and given a number based on where they stand in terms of this metric. This is just intended to show how wealthy the average citizen is per city, and is not a broader indicator relating to the success or overall ranking of a city.
1. Global Giants
These six cities are the world’s leading economic and financial centers. They are hubs for financial markets and are characterized by large populations and a high concentration of wealth and talent.
Examples: New York City, Tokyo, London
2. Asian Anchors
The six Asian Anchor cities are not as wealthy as the Global Giants, however they leverage attributes such as infrastructure connectivity and talented workforces to attract the most Foreign Direct Investment (FDI) out of any other metro grouping.
Examples: Hong Kong, Seoul, Singapore
3. Emerging Gateways
These 28 cities are large business and transportation hubs for major national and regional markets in Africa, Asia, Latin America, and the Middle East. While they have grown to reach middle-income status, they fall behind other global cities on many key competitiveness factors such as GDP and FDI.
Examples: Mumbai, Cape Town, Mexico City, Hangzhou
4. Factory China
There are 22 second and third-tier Chinese cities reliant on export manufacturing to power economic growth and international engagement. Although Factory China displays a GDP growth rate that is well above average, it fails to reach average levels of innovation, talent, and connectivity.
Examples: Shenyang, Changchun, Chengdu
5. Knowledge Capitals
These are 19 mid-sized cities in the U.S. and Europe that are considered centers of innovation, with elite research universities producing talented workforces.
Examples: San Francisco, Boston, Zurich
6. American Middleweights
These 16 mid-sized U.S. metro areas are relatively wealthy and house strong universities, as well as other anchor institutions.
Examples: Orlando, Sacramento, Phoenix
7. International Middleweights
These 26 cities span across several continents, internationally connected by human and investment capital flow. Like their American middleweight counterparts, growth has slowed for these cities since the 2008 recession.
Examples: Vancouver, Melbourne, Brussels, Tel Aviv
40 Stock Market Terms That Every Beginner Should Know
Getting a grasp on the market can be a daunting task for new investors, but this infographic is an easy first step to help in understanding stock market terms.
40 Stock Market Terms That Every Beginner Should Know
Understanding the stock market can be a daunting task for any new investor.
Not only are there many concepts and technical terms to decipher, but nearly everybody will try to give you conflicting pieces of advice.
For example, if a stock in your portfolio falls in price, should you be accumulating additional shares at a lower price or should you be strategically cutting your losses?
Some experts will tell you one thing, while others will tell you precisely the opposite.
A Place to Start: Terminology
Before you drift into the many debates that the investing pundits are weighing in on, perhaps the most proactive step for a beginner is to simply learn to talk the same language as the pros.
Today’s infographic comes to us from StocksToTrade.com, and it covers the most important stock market terms that every new investor should know and understand. It’s enough to get any beginner on the same playing field, so they can start toying with the more nuanced or complex concepts in the investing universe.
While we don’t agree with the exact definitions of all of the terms, the list is adequate enough to get any new investor off the ground. It covers basic order terms like “bid”, “ask”, and “volume”, but it also goes into concepts like “authorized shares”, “secondary offerings”, “yield”, and a security’s “moving average”.
Already got a handle on 40 of the most important stock market terms?
Visual Capitalist has a ton of other powerful visual resources for new investors, or anyone else hungry to learn about how markets work:
- Learn how to read stock charts
- Visualize the power of compound interest
- See this simple introduction to investing we published
- See how elite growth investors pick stocks
- Learn about the basics of ETFs and mutual funds, and even the differences between them
- Learn about the basics of creating a stock portfolio
- See how stock market indices work
- Understand 12 types of technical indicators for investing
- See how Warren Buffett’s brain works
Crush the above resources, and you’ll be market savvy in no time!
A Brief History of Jewelry Through the Ages
Jewelry has been coveted for centuries by many different cultures. Here’s a look at the history of jewelry, and how it’s evolved into a $348B industry.
Jewelry has been an integral aspect of human civilization for centuries, but it was the discovery and subsequent spread of precious metals and gemstones which really changed the game.
In today’s infographic from Menē, we visualize how the uses and symbolism of jewelry have evolved across time and space to become the industry we’re familiar with today.
Antique, Yet Ageless
There isn’t a single corner of the world that’s untouched by the influence of jewelry.
- Ancient Egypt
Gold accompanied the affluent into the afterlife – the famous 1922 discovery of King Tutankhamun’s tomb was filled to the brim with gold jewelry.
- Ancient Greece and Rome
Jewelry was used practically, and as a protection against evil. The gold olive wreath design was highly popular during this time.
Both men and women in the Sumer civilization wore intricate pieces of jewelry, incorporating bright gems like agate, jasper, or lapis lazuli.
The aristocracy in Aztec culture wore gold jewelry with gemstones to demonstrate their rank. The jewelry also doubled up as godly sacrifices.
- Ancient India
The Mughal Empire introduced the combination of gemstones with gold and silver. Today, pure gold jewelry is often gifted to new brides for financial security.
- Ancient China
Both rich and poor wore jade jewelry for its durable and protective properties. Pure gold jewelry is making a fashion comeback, doubling as a form of investment.
Modern Jewelry: At a Crossroads
Today, jewelry is at once the very same and vastly different from what it used to be.
The industry is worth upwards of $348 billion per year, and it’s not hard to see why. As an alternative asset, jewelry has grown 138% in value over the last decade – only outperformed by classic cars, rare coins, and fine wine.
However, perceptions of jewelry vastly differ. It’s not a stretch to say that Western jewelry buyers are enamored with diamonds, given their enduring association with special occasions – but it’s interesting to note how that ideal was fabricated.
The Invention of Diamonds
The De Beers Group is well known for making diamonds great again. In the early 1900s, the company had already monopolized the diamond trade and stabilized the market, but they faced the challenge of marketing diamonds to consumers at all income levels.
The average American considered diamonds an extravagance, preferring to spend money on cars and appliances instead. The concept of engagement rings existed, but weren’t widely adopted. The #1 slogan of the century – “A Diamond is Forever” – transformed all that.
Even as more companies like Tiffany and Co and Cartier entered the playing field, De Beers had set a successful industry standard. But there’s a catch – diamonds are actually:
- Not all that rare in nature
- Intrinsically low in value
- Easily replicated in a lab
- Decreasing in sales
Despite these caveats, the popularity of diamonds illustrate how Western consumers do not approach jewelry in the same way as Eastern economies, where its function as a store of wealth persists.
The Eastern Gold Standard
In Eastern economies, jewelry often takes the form of pure gold. The reasons behind this difference are surprisingly pragmatic: gold is considered a secure and innate store of wealth that maintains its purchasing value over decades, allowing families to pass wealth from generation to generation.
The rich history of the precious metal has made it a sought-after commodity for centuries, and China and India drive more than half of global gold jewelry demand every year:
|Year||Share of Demand (India + China)||Total Global Jewelry Demand (tonnes)|
Source: Gold Hub – Values have been rounded up to the nearest tonne.
Why are Eastern cultures so attracted to the properties of pure gold?
Part 2 of this series will show why gold is the world’s most incredible metal, and why it’s coveted by billions of people.
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