In some conurbations (e. g. the areas around Munich, Stuttgart and Frankfurt a. M.), house prices are rising at an above-average pace, but much more slowly than in New York, London or Madrid.

慕尼黑、斯图加特和法兰克福等都市圈的房价升速快于全国的平均水平，等也比纽约、伦敦和马德里等地慢得多。

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New York has Central Park, London has Hyde Park, but ask the Munich locals and none of them would swap "their" English Garden.

纽约有中央公园，伦敦有海德公园，但问问慕尼黑当地人，他们谁都不愿意将“他们的”英国公园换走。

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So, too, do new business-only airlines, such as PrivatAir, which runs services between Dusseldorf and Chicago and Munich and New York.

ECONOMIST: Air travel: After Concorde | The

It also has built flagship stores in New York and Munich and expanded to more than 64 markets in the fourth-quarter alone.

BBC: Zara-owner Inditex's profits rise by 22%

This is why stocks cost, except for fractions of a moment, the same in London and New York, bonds in Tokyo and London, tin in Jakarta and Munich (allowing for taxes and transport costs).

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