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Lecture 5

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University of Toronto St. George
Damian Dupuy

Lecture 5 Global Cities  Every city wants to be know as: Its cosmopolitan, its outward looking, it has a vision looking out side its border  Globalization means highest-order functions concentrate in only a few key cities o there are linkages that are located across the globe instead of just inside the city  These are “Global Cities”  Places where the command and the control of the world economy is concentrated o Increasing concentrations of HQs, financial services, etc. o You would locate in a powerful city – if you wanted a good job , with great economic power Characteristics of Global Cities  Main sites for capital investment o much of the global investment that takes place , services investment, economic investment, services, real estate ( towers, sky scrapers, etc.) . Centre of Financial Capital – big banks  Location of highest-order functions/markets  Main destination points for migrants (Internal and External) o External - Use as landing point and then move on farther to the country  Most intense places for economic growth, innovation  Large and increasing social inequalities/polarization o Income polarization, wealth isn’t distributed equally Hierarchy of Global Cities  First Tier –New York, London, Tokyo o Concentrations of the highest order functions nd  2 tier- Toronto, Sydney, Chicago, Berlin o Concentrations of national and regional HQs , high-tech manufacturing, producer services The Internal Struct
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