Question
What is the difference between a financial center and a
financial hub?Solution
While the terms financial center and financial hub are often used interchangeably, there is a subtle difference between the two. A financial center typically refers to a large city or region that serves as a hub for financial activity, while a financial hub refers to a specific sector within a financial center that is focused on a particular type of financial service, such as investment banking or insurance. Financial hubs tend to be more specialized and focused on particular financial sectors, while financial centers tend to offer a broader range of financial services. Therefore, option C is correct.
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