NY globalization
the rent (doc 1)
the rent is different between the different boroughts
Manhattan is the lowest borough of the city
The Bronx and Brooklyn the lower
gentrification (doc 2)
"gentrication of their area" (l 8)
gentrification: is a process of renovation and revival of deteriorated urban neighborhoods by means of influx of wealthier residents, which results in increasing poverty values and displacing of lower-income families and small business.
"springing up in the waterfront warehouses, and companies specialising in loft apartments building snapping up land" (l5-6)
"snoaring rents" (l 12)
NY is the 4th expensive city in the world in terms of price per square meter (19,000$)
cutural
"The piano district- a nod to its history as a site lf piano makers" ( l 14-15)
NY is know for its artists ( the Harlem Renaissance in the 1920s, the HipHop in 1973 with DJ Kool Herc)
opposition between classes
"(the residents) are furious at outsiders coming in and chasing their comunity" (l 2-3)
NY's claims to be a meeting pot
With the gentrication, the dominants discourse targets whites that would joepardize a predominantly black ecosystem. They don't share their culture
The young graduates who came in the Bornx because of the low rents are the most segregated. Indeed, they are strangers to the community.
"a campaing group with the slogan The Bronx is not for sale" (l6)
The residents shows their reluctant to gentrifaction by creating a campain with a moto (l6)
"A billboard by the site, ... renarming the Piano District" (l 14)
economy
"develop a waterfront area of the Bronx" (l 1)
NYC want to dynamic one of the 5 boroughs
NY is one of the wealthiest city of the world
Its GDP reached 1,400 billion dollars in 2012, twice as much as Paris GDP
Gross Domestic Product: the total value of good and services produced by the people in a territory during a year not including the value of income earned in foreign countries
The lowest rent of Manhattan can be explained by the presence of the 1st world stock exchange in the World (Wall Street)
Indeed, the market capitalization of the NYSE, one of the two sotck exchange, reaches $19,200 billion
Market Captitalization: it refers to the total value of a company's outstanding shares. It's calculated by multiplyng a compagny's outstanding shares by the current price of one shares