Global Cities

Table of Content |

Introduction 1

International economic links 2

Population size, migration and diversity 3

Non-economic factors comparison 4

Conclusion 5

References 6

1. Introduction

The aim of this report is to compare three major global cities: London, New York and Tokyo in terms of international economic links, their population, art and cultural heritage.

Firstly it is important to fully understand what we mean by the term ‘global city’.

According to Sassen (1991) global city is defined in terms of their multiple roles:

* centres and political power, both national and international,

* centres of national and international trade, acting as entrepots for their countries,

* canters of banking, insurance and other financial activities,

* centres of arts, culture and entertainment.

We can deduct from the above that global city is an important hub in global economic and political system with high influence on the rest of the world.

2. International economic links

International economic links consist of high-level functions in government as well as financial and business services, therefore should be taken into consideration in this report. The most important global cities London, New York and Tokyo are the main players in finance and business services. Thus, according to The Global Financial Index 10 (September 2011), London is the top ranking global city with its dominance in finance and business. The second place belongs to New York as this city dominates in legal services and advertising, following Tokyo on the sixth place with its largest domestic market and strength of its currency.

Firstly, London is the world’s largest international financial centre with the largest number of companies’ headquarters, innovation, business planning, accounting corporate law, management consulting, marketing and distribution. Additionally, London’s economy and prospects depend on the city’s...