CITB02H3 Chapter Notes - Chapter week4: Trading Spaces, Telematics, Saskia Sassen

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5 Jul 2018
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SASKIA SASSEN (651-658): THE IMPACT OF THE NEW TECHNOLOGIES AND GLOBALIZATION ON
CITIES
- Telecommunications and globalization are shaping the organization of urban space 
spatial virtualization of social/economic activities and the reconfiguration of the built
env.’s geography
- Growth of global markets for finance/specialized services, need to transnational
servicing networks b/c investment and reduced role of the gov. in the regulation of
international economic activity  all point to intricate international network of cities
oSee transnational urban systems
Worldwide Networks and Central Command Functions
-Geography of globalization is of both dispersal and centralization
oMassive spatial dispersal has also brought centralization of top-level
management control operations
oSpatial dispersal of economic activity allowed for an expansion of central
functions (i.e by 1998, firms had 500k affiliates outside of their home countries)
 created need for coordination  this was made possible by telecommunications
- Global financial markets
oMag. Of transactions has risen sharply
Transactions partly embedded in telecommunications systems that allow
instantaneous transmission of money/info. across the globe
oGlobal financial markets are located in particular cities in the highly developed
countries
oMassive stock market deregulation in 1980s in EUR/NA stock markets, new stock
exchanges opened up in Mexico City, São Paulo etc  integration of more stock
markets = more capital to mobilize through stock markets
oEmergence of global markets for finance/specialized services = expansion of
command functions and demand for specialized services for firms
- Central functions = the top level
financial/legal/accounting/managerial/executive/planning functions necessary to run
a corporate organization operating in more than one country
oAre typically in headquarters, but are also part of the corporate services
complex (network of financial/legal/advertising/accounting) firms that handle
the complexities of operating in more than one national legal system
oThese services are so complex that firms buy them from specialized firms rather
than producing them in-house
Agglomeration of these firms are disproportionately concentrated in
the highly develop countries
New Forms of Centrality
- Not a simple relationship between CBD and centrality
oCBD can now extend into a metropolitan area which form a grid of nodes of
intense business activity (eg. Frankfurt/Zurich)  center has been impacted by
telecommunications and global economy
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New geography of centrality
- There are 4 forms of centrality today
o1. CBD still remains key form of centrality, but international business centres
are profoundly configured by tech/economic change
eg. NY/CHI have been rebuilt many times, EURO centres are more well-
maintained (eg. La Defense in Paris to protect city built env.)
o2. Center can extend into a metropolitan area in the form of a gir of notes of
intense business activity
represent the most advanced type of “center”  places falling outside of
this grid are peripheralized
regional grid is likely to be embedded in conventional forms of comm.
Infrastructure (Eg. Rapid rail/highways connected to airports)  is likely to
maximize the economic benefits derived from telematics
o3. Formation of a trans territorial “Center” constituted via telematics and intense
economic transcations
these bind the major international finance and business centers: NY,
LON, TKO, PAR, FRNK, ZUR, LA etc.  intensity of transactions in these
cities (particularly in finance markets, services and investment and so
have the mag. Of the transactions)
these has been sharpening inequality in the conc. Of strategic
resources/activities between each of these cities and others in the
same country
o4. New forms of centrality are being constituted in electronically generated
spaces
electronic space  eg. Strategic components of financial industry operate
here where profits are produced and power is constituted
structures for economic power are being built in electronic space and
that their highly complex configurations contain points of coordination
and centralization
A Concentration and The Redefinition Of The Center: Some Empirical Referents
- trend of concentration of top-level management, coordination, servicing functions (on
national/international scales) is evident in highly developed countries
oeg. NY does 1/4th of US producer services export despite having only 3% of the
US’ population
in the business district of Manhattan, using information and
telecommunication technologies has had strong impact on the spatial
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Document Summary

Saskia sassen (651-658): the impact of the new technologies and globalization on. Telecommunications and globalization are shaping the organization of urban space spatial virtualization of social/economic activities and the reconfiguration of the built env. "s geography. Created need for coordination this was made possible by telecommunications. Agglomeration of these firms are disproportionately concentrated in the highly develop countries. There are 4 forms of centrality today: 1. Rapid rail/highways connected to airports) is likely to maximize the economic benefits derived from telematics: 3. Formation of a trans territorial center constituted via telematics and intense economic transcations these bind the major international finance and business centers: ny, Intensity of transactions in these cities (particularly in finance markets, services and investment and so have the mag. Of the transactions) these has been sharpening inequality in the conc. Of strategic resources/activities between each of these cities and others in the same country: 4.

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