If only Sydney were a sovereign city-state republic!

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neverfail
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If only Sydney were a sovereign city-state republic!

Post by neverfail » Sun Mar 05, 2017 4:37 pm

How would Sydney's economy rank internationally if it were a city-state?

If Sydney were a country it would rank among Asia's economic heavyweights.

The output of Australia's biggest city topped $US300 billion last financial year, comparable to economic activity of Hong Kong or Malaysia when measured in US dollars.

Funny thing about the official family downgrading what we might consider to be Australia's normal economic growth rate - since they did it - is that our economy has been outperforming (the rest of Australia).

That would rate Sydney among the region's 10 largest economies and in the world's top 40 if it were a city-state like Singapore or an autonomous territory like Hong Kong.

Cyclamen persicum
Posts: 317
Joined: Thu Jan 12, 2017 10:13 am

Re: If only Sydney were a sovereign city-state republic!

Post by Cyclamen persicum » Sun Mar 05, 2017 5:59 pm

neverfail wrote:
Sun Mar 05, 2017 4:37 pm
.

How would Sydney's economy rank internationally if it were a city-state?

If Sydney were a country it would rank among Asia's economic heavyweights.

The output of Australia's biggest city topped $US300 billion last financial year, comparable to economic activity of Hong Kong or Malaysia when measured in US dollars.

Funny thing about the official family downgrading what we might consider to be Australia's normal economic growth rate - since they did it - is that our economy has been outperforming (the rest of Australia).

That would rate Sydney among the region's 10 largest economies and in the world's top 40 if it were a city-state like Singapore or an autonomous territory like Hong Kong.

.


What is Sydney's economy all about ? nice city, true (was there), but what is the economy ?

.

neverfail
Posts: 969
Joined: Sun Dec 18, 2016 3:47 am

Re: If only Sydney were a sovereign city-state republic!

Post by neverfail » Mon Mar 06, 2017 12:06 am

Cyclamen persicum wrote:
Sun Mar 05, 2017 5:59 pm
neverfail wrote:
Sun Mar 05, 2017 4:37 pm
.

How would Sydney's economy rank internationally if it were a city-state?

If Sydney were a country it would rank among Asia's economic heavyweights.

The output of Australia's biggest city topped $US300 billion last financial year, comparable to economic activity of Hong Kong or Malaysia when measured in US dollars.

Funny thing about the official family downgrading what we might consider to be Australia's normal economic growth rate - since they did it - is that our economy has been outperforming (the rest of Australia).

That would rate Sydney among the region's 10 largest economies and in the world's top 40 if it were a city-state like Singapore or an autonomous territory like Hong Kong.

.


What is Sydney's economy all about ? nice city, true (was there), but what is the economy ?

.
Thanks Cp. You have posed a good question for which I have no pat answer to give you.

Sydney is a polyglot metropolis whose regional economy seems to incorporate a bit of everything.

Can you really pinpoint what is the economic basis of San Francisco; Los Angeles or New York City? What about London, Paris or Rome?

Cyclamen persicum
Posts: 317
Joined: Thu Jan 12, 2017 10:13 am

Re: If only Sydney were a sovereign city-state republic!

Post by Cyclamen persicum » Mon Mar 06, 2017 11:26 am

neverfail wrote:
Mon Mar 06, 2017 12:06 am
.
Cyclamen persicum wrote:
Sun Mar 05, 2017 5:59 pm
.
neverfail wrote:
Sun Mar 05, 2017 4:37 pm
.

How would Sydney's economy rank internationally if it were a city-state ?

If Sydney were a country it would rank among Asia's economic heavyweights.

The output of Australia's biggest city topped $US300 billion last financial year, comparable to economic activity of Hong Kong or Malaysia when measured in US dollars.

Funny thing about the official family downgrading what we might consider to be Australia's normal economic growth rate - since they did it - is that our economy has been outperforming (the rest of Australia).

That would rate Sydney among the region's 10 largest economies and in the world's top 40 if it were a city-state like Singapore or an autonomous territory like Hong Kong.

.


What is Sydney's economy all about ? nice city, true (was there), but what is the economy ?

.
Thanks Cp. You have posed a good question for which I have no pat answer to give you.

Sydney is a polyglot metropolis whose regional economy seems to incorporate a bit of everything.

Can you really pinpoint what is the economic basis of San Francisco; Los Angeles or New York City? What about London, Paris or Rome?


.

Yes, I can


San Francisco, is Silicon Valley

Los Angeles is Show Business, Defence, missiles and and

London, they call it "City" meaning banking for EU, the rest just Arab money .. London rich do not pay any income tax.

New Your is Wall street crook game

Paris is the 1st destination of all tourists coming to Europe .. France # 1 business is Tourism - girls, wine and cheese.

My understanding is, Sydney, similar to Vancouver, just Rich Chinese money (buying those wonderful condo in Sydney port) .. you tell me what else ? ?

.

neverfail
Posts: 969
Joined: Sun Dec 18, 2016 3:47 am

Re: If only Sydney were a sovereign city-state republic!

Post by neverfail » Mon Mar 06, 2017 3:04 pm

Sorry Cp, but I fear that you are dealing in popular stereotypes. In each and every case, whilst I agree that the factors that you named above would be an element at play in each case, in none of the above does it tell the entire story.

In the case of Chinese money being invested in Sydney: enough research has been done into this to demonstrate convincingly that Chinese money from overseas had been disproportionately, almost exclusively, invested in high end, usually in serviced apartments, property in our inner-city areas. Investment in our sprawling suburbia seems to hold little appeal to them.

The investment out here that has pushed up real estate prices right across the board has been locally generated. A change to our tax rules introduced by the Howard government late in the 1990's has encouraged members of our Australian middle classes who have paid off the family home to take out second mortgages for the purpose of buying "investment properties" to generate additional income for them in old age. In Sydney where prices are highest this has driven a lot of younger generation first home buyers out of the market (along with increasing demand for rented properties, with rising rents, as an alternative for buying).

Thus we have what has been described as a tax concession driven property bubble. The best thing our Federal government can do would be to pass legislation rescinding the tax concessions for all future investment properties so that the price of real estate would "plateau out". Rising real wages in subsequent years would gradually restore housing affordability to first home buyers while ensuring that existing property owners were not put out of pocket.

Unfortunately, our Federal government is politically in hot water and has had to shelve indefinitely a number of bits of sensible legislation in deference to its tenuous grip on power.
..................................................................................................

Apart from that historically recent development; Sydney is:
1. Australia's premier banking and high-finance centre and
2. This country's biggest single draw-card for international tourism.

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cassowary
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Re: If only Sydney were a sovereign city-state republic!

Post by cassowary » Fri Mar 24, 2017 11:43 pm

neverfail wrote:
Sun Mar 05, 2017 4:37 pm
How would Sydney's economy rank internationally if it were a city-state?

If Sydney were a country it would rank among Asia's economic heavyweights.

The output of Australia's biggest city topped $US300 billion last financial year, comparable to economic activity of Hong Kong or Malaysia when measured in US dollars.

Funny thing about the official family downgrading what we might consider to be Australia's normal economic growth rate - since they did it - is that our economy has been outperforming (the rest of Australia).

That would rate Sydney among the region's 10 largest economies and in the world's top 40 if it were a city-state like Singapore or an autonomous territory like Hong Kong.
Sydney's present prosperity is due in large part because it serves as a business center for the rest of Australia. If Sydney were to secede, other cities might serve as a business center for Australia. So it is not clear if Sydney's prosperity can remain the same.

neverfail
Posts: 969
Joined: Sun Dec 18, 2016 3:47 am

Re: If only Sydney were a sovereign city-state republic!

Post by neverfail » Sat Mar 25, 2017 2:48 am

cassowary wrote:
Fri Mar 24, 2017 11:43 pm


Sydney's present prosperity is due in large part because it serves as a business center for the rest of Australia. If Sydney were to secede, other cities might serve as a business center for Australia. So it is not clear if Sydney's prosperity can remain the same.
A succinct and very sobering observation by you cass; and thanks for it!

Melbourne, with whom we have a rivalry currently at least 150 years old, would probably move in and eagerly take over our interests.

Singapore is not a valid comparison for two reasons. The first is that Australia (and adjacent south west Pacific region), Sydney's commercial hinterland (or natural economic catchment area) back-up is nothing like the potentially hostile one Singapore has in Malaysia. The second is that Singapore has no commercial peer and competitor in the entire south east Asia region comparable to Melbourne vis a vis Sydney.

Conclusion: Sydney's interest is better served by remaining part of the Commonwealth of Australia.

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