New York

Americas most populous city, New York, the Big Apple, is one of the worlds leading commercial, financial, and cultural centers. New York is subdivided into five boroughs; in descending order of area, the boroughs are Queens, Brooklyn, Staten Island, the Bronx, and Manhattan. Almost all of the Bronx is situated on the mainland, but the other boroughs are situated on, or comprise, islands. In all, New York comprises some 50 islands. In postal addresses, New York is synonymous with Manhattan. New York has been the gateway to America for successive influxes of immigrants from Europe, later Asia and Russia. The population of the city remains more racially and ethnically diverse than many areas of the United States. In 1990, the population of New York was 52 per cent white, 29 per cent black, 7 per cent Asian and Pacific Islander, and 12 per cent other races. Those of Hispanic origin comprised 24 per cent of the total population. The latest influx is from Russia. Land area is 800 sq. km. Population in 1992 was 7, 311, 966. New York is a financial, commercial, manufacturing, and tourist center. A national focus of road, rail, water, and air transport, it also contains the headquarters of many major corporations. The financial district of Lower Manhattan, centered on Wall and Broad streets, includes the New York Stock Exchange (1817) and a United States Federal Reserve Bank as well as other prominent banking, brokerage, and financial institutions. Much domestic and international trade is conducted in New Yorks offices, including those in the twin towers of Lower Manhattans World Trade Center, one of the worlds tallest structures. Two international airports-La Guardia and John F. Kennedy, both in Queens-are major air-cargo terminals, and large amounts of freight pass through the citys port facilities. Nearby ports in New Jersey, however, with Newark International Airport, now handle much of the freight that formerly passed through New York.

Wholesale and retail trade are important to New Yorks economy. The city is particularly noted for its many retail outlets, including large department stores and specialized shops.

Fifth and Madison avenues, in Manhattan, are especially famous for their elegant shops.

As a manufacturing center, New York is a national leader in the production of clothing (notably in the Garment District of Midtown Manhattan on the West Side), printed materials, and processed foods. Other principal products include wood, paper, and metal goods, machinery, chemicals, and textiles. Many manufacturing concerns have left New York since the 1960s, largely because of the high cost of operating in the city. In specialized service activities, however, the city remains strong and it is a major center of the world financial industry; both the advertising and the communications industries have major concentrations in New York.

The leading national television and radio networks have headquarters in the city, as do many ...