Actually, according to the London Independent newspaper, Los Angeles is tied with Washington DC as being the 7th (though they mistakenly list us as 8th) most powerful city when it comes to all things economic and cultural. And - surprise! surprise! - their carefully crafted criteria makes London the world's capital of culture and business, rather than... New York.
I'll examine later how bogus the survey is but to give you an idea - does anyone alive think LA and Washington DC are equal in cultural and private economic (as opposed to government) development? Or that Chicago and Madrid rank higher than LA in world wide cultural and economic impact? Or that Mexico City out ranks every city in China and India in international impact by a wide margin?
Below is the main article that links to all the other coverage:
(post updated in that the chart showed LA as number 9 which was my original headline, but I just noticed they mistakenly filled in the names of the topics of the columns witin the number 1 slot and so London is listed as number 2 on the chart even though it was... number 1)