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The knock-on effects are felt across the economy, from the jobs created and the cheaper costs of manpower to foreign direct investment that pours in from countries enticed by getting a foothold in the world's richest consumer market".
The Port Authority says that eighty million people, the richest consumer market in the world, live within a twenty-four-hour drive or train ride of the Port of New York and New Jersey.
The knock-on effects are felt across the economy, from the jobs created and the cheaper costs of manpower to foreign direct investment that pours in from countries enticed by getting a foothold in the world's richest consumer market.For a company like PP, with 200 employees, the benefits are to be found in clients in Germany, Italy, France, Luxembourg and the Benelux countries.
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Bizarrely, by financing America's deficit, poor countries are subsidising the world's richest consumers.
Which brings to mind the wise words of the late Andy Warhol: "America started the tradition where the richest consumers buy essentially the same things as the poorest.
"What's great about this country is that America started the tradition where the richest consumers buy essentially the same things as the poorest.
From the vantage point of places like these, America long represented something different: "What's great about this country is that America started the tradition where the richest consumers buy essentially the same things as the poorest," Andy Warhol once observed.
"It is a huge multibillion-dollar business, and what you see in a sense is some of the poorest people in the world competing for the use of coastal resources with some of the richest consumers on the planet".
Millions of jobs have been created because European companies have been able to buy and sell freely to the richest consumers in the world, in the largest market in the world.
Long-time Apple watcher John Gruber even predicted prices like this back in September, pointing out that Apple was finally moving away from its long tradition of 'accessible luxury' where - to quote Andy Warhol - the "richest consumers buy essentially the same things as the poorest".
Workers in these cities earn more because they produce goods for the world's richest consumers.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com