Global City

What is a Global City?

• Cities are ecosystems for business and innovations.
• Functions as the command and control nodes of global corporations.
• Cities have become mediums and arenas of globalization.

Defining Global City

• A global city, is also called world city or sometimes alpha city or world center; a primary node in the global economic network.

• The term "global city" was popularized by Saskia Sassen in 1991.

• Sassen initially identified three global cities namely, New York, London, and Tokyo - all of which are hubs of global finance and capitalism.

• New York has the New York Stock Exchange (NYSE), London has the Financial Times Stock Exchange (FTSE) and Tokyo has the Nikkei.

  • While the Philippine Stock Exchange traded only 231.3 billion, the value traded in the NYSE alone is 19,300 billion.

Analyzing Global City

• Global cities are destinations for more advanced learning institutions and highly renowned universities that are more engaged in scholarship.
• Every few years, the Globalization and World Cities Research Network rate cities by ranks.