All Exams Test series for 1 year @ ₹349 only
Question

Which of the following is NOT a Financial Centre ?

The correct answer is
Detroit, United States of America

Identify Non-Financial Centre Among Global Cities

A financial centre is a hub where significant financial services, institutions, and markets are concentrated. Identifying which city is NOT primarily known for these characteristics is key.

Analysis of Cities as Financial Hubs

  • Zurich, Switzerland: Renowned globally for its banking, insurance, and wealth management sectors, making it a major financial centre.
  • Amsterdam, Netherlands: Hosts significant financial operations, including a major stock exchange (Euronext Amsterdam) and numerous financial institutions.
  • Mumbai, India: Acts as India's financial capital, home to the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), alongside major corporate headquarters.
  • Detroit, United States of America: Historically recognized as the 'Motor City' due to its dominant automotive industry. While it has economic activity, it lacks the scale and scope of global financial markets and institutions compared to the other cities listed.

Conclusion: Identifying the Non-Financial Centre

Comparing the primary economic roles and infrastructure, Detroit stands out. Unlike Zurich, Amsterdam, and Mumbai, which are established global or national financial powerhouses, Detroit's core identity and economic structure are centered around manufacturing, specifically the automotive sector, not finance.

Therefore, Detroit is NOT considered a primary Financial Centre relative to the others.

Was this answer helpful?

Important Questions from Financial Markets

  1. Where is the NSE (National Stock Exchange of India) headquartered?
  2. Where is the NSE (National Stock Exchange of India) headquartered?
  3. Which one among the following is the Asia's first stock exchange?
  4. On which road is the Bombay Stock Exchange located?
  5. SENSEX is an index of Bombay Stock Exchange's top ______ companies.
Need Expert Advice?

Start Your Preparation with Prepp Mobile App

Download the app from Google Play & App Store
Download the app from Google Play & App Store
Prepp Mobile App