World Cities

World Cities

Large cities that have outstripped its national urban network and has become an important part of the international network of finance and trading (population over 4 million people).
Nature, Character and Spatial Distribution of World Cities
1. Command and control centres of the global economy
2. Centres of the world trade, communication, leaders in banking and finance. Also hosts of entertainment and sporting events.
3. Spatial distribution: developed countries + major cities such as New York, London and Tokyo all are located in different parts of the world: 24 hours trading service
Role of World Cities as powerful centres of economic and cultural authority
1. Inextricably linked to globalisation --> powerful centres of economic, political, cultural, infrastructure, finance, culture and entertainment
2. Key locations for a full range of financial activites i.e banks (The Bank of America), HSBC...
3. Headquarters of many TNC's and large corporations --> which have major influence on the global economy e.g. World Trade Organisation (New York)
4. Major stock exchange- London (London Stock Exchange) --> largest trading centre for foreign exchange (3.2 trillion dollars) + Largest insurance services
5. Accumulation of wealth and high income earners --> being able to develop and use new technologies and marketing strategies
6. Cultural authority --> key locations for social infrastructure and networks + entertainment facilities
  1. Highly developed infrastructure- offices + apartment blocks
  2. Sophisticated transport systems- London Underground Metro ( stretches over 408km and responsible for the transport of 3.32 million per day)
  3. Centres for a range of cultural facilities- opera houses, large entertainment centres and sporting events e.g EPL and Madison Square Garden
  4. High Learning institutions: Oxford University and Cambridge University - top 10 rankings
Operation of Global Networks
1. World Cities are closely linked between each other- Through; Air transportation, telecommunication circuits
2. Air Transport- Most preferred mode of travel- direct flights to different world cities- London Heathrow Airport (65 million people per year
3. Telecommunication- over 200 satellites in orbit- responsible for the operation of world cities
Relationships of dominance and dependence between world cities and other urban centres + changing roles of regional centres and demise of small towns
1. Greatest control within the global hierarchy- Due to: the concentration of human activities such as; economic, political, cultural, infrastructure, finance + entertainment.
2. Changing role of regional centres, 1. Increased population and Area. 2. Increased services offered --> greater influence in the city more $$$ 3. Transport --> road networks, more affordable cars. 4. Technology --> development of technology increased the production of money
3. Demise of small towns: Caused by- decrease in population --> globalisation + increased regional centres offering more services + increased cost in rural areas.

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