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LA No Longer a Top 10 Economic Powerhouse

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Our fair city has been booted from a list of the world's top 10 centers of commerce, reports the AP. LA was number 10 last year, according to Mastercard's Worldwide Index, but this year is number 17—due mostly to explosive growth in Asia and a resurgent Europe (though the fact that many in our region try to stymie growth over fear of congestion can't help). More bad news: Chicago beat us. Ugh. On the upside though, the LA and Long Beach ports were named #1 in the world. Go San Pedro! And Seoul is number 9—a harbinger for more K-Town boomtimes?

1) London
2) New York
3) Tokyo
4) City of Singapore
5) Chicago
6) Hong Kong
7) Paris
8) Frankfurt
9) Seoul
10) Amsterdam
· Emerging Markets Becoming Big Commerce Hubs [AP]