Simon Kuper sketched a dismal picture in the Financial Times over the weekend of the end-game for what he's calling the "great global cities" – places like New York, Paris, London, Singapore, Hong Kong – where the fortunes of a few have become entirely detached from the sputtering economy most of the world has experienced over the last several years. Elsewhere, manufacturing jobs have dwindled, agricultural work has disappeared, and wages have stagnated. Meanwhile, in the great global cities, increasingly only the very rich can afford to live.
These once-poor and crime-riddled cities have become highly desirable over the last decade. However, Kuper writes: