Milan is one of the major financial and business centres of the world. The city is the seat of the Italian Stock Exchange (the Borsa Italiana)"Piazza Affari" and its hinterland is an avant-garde industrial area. Milan was included in a list of ten "Alpha world cities" by Peter J. Taylor and Robert E. Lang of the Brookings Institution in the economic report "U.S. Cities in the 'World City Network'".
Milan is also well known as the seat of the Alfa Romeo motorcar company, for its silk production, and as one of the world's capitals for fashion and a world leader for design.
Milan also provides directional functions for the whole of Lombardy, as its industrial base has been externalized throughout the region in the 1960s-70s.
The Fiera Milano, the city's Exhibition Centre and Trade Fair complex, is notable. This new fairground, in the north-western suburb of Pero and Rho, opened in April 2005, making the Fiera Milano the largest trade fair complex in the world.
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