World Cities Flashcards
What is a world city?
An interconnected global economic centre that has a significant influence on the world economy
Eg London and Sydney
They are important on a global scale and account for 30% of the world’s economy so are significant beyond the country which they are situated in
Almost all in MEDCs/HICs but some eg Dharavi are in emerging economies
What is happening to the number of world cities?
Increasing
1950- only world cities were London, Paris, Tokyo and New York
More recently economic growth in oil rich countries such as Nigeria has allowed cities such as Lagos to become contenders for world city status
They cities are increasingly important in global economies and business
Name two world cities that have emerged as leaders of banking and finance and explain them
London and Newyork
Many banking companies such as HSBC, Lloyds and RSB have headquarters in these cities
Generic characteristics of world cities
Usually dominate international trade and regional economies in their area—
World cities have good transport links which allow them to trade w the rest of the world
Usually have world renowned universities
Centres for science and innovation w high quality research and development facilities
Centres for culture- home to media and communication corporations as well as range of theatre, museums and other cultural attractions
Tend to attract high numbers of people from other countries inc migrants, business visitors, students and tourists
Give an example of how world cities usually dominate international trade and regional economies in their area
Tokyo is extremely influential in international trade between the East Asian nations
Classification of world cities
Alpha ++
Alpha +
Alpha
Alpha -
Beta
Gamma
Alpha ++ city
New York
London
Alpha +
Hong Kong
Paris
Alpha
Madrid
Moscow
Alpha -
Los Angeles
Mexico City
Beta cities
Melbourne
SAN Fransisco
Gamma cities
Montreal
Panama City
4 Hubs of world cities
Hubs of business transport and trade
Production hubs
Political hubs
Migration hubs
Explain hubs of business transport and trade
World cities have strong connections to the rest of the world eg by internet electronic communication and air
Clear identifiers of personal wealth - eg numbers of billionaires
Example of city which is a hub of business transport and trade
London’s Heathrow airport- world’s largest international passenger traffic
Singapore- major centres for shipping and container traffic
Tokyo- dominates global trade and consumer activity.
They contain corporate head quarters for TNCs, international financial institutions, law firms, industrial grants (eg BP) and stock exchanges that influence the world economy
To support these, a significant number of financial services, such as banking and accountancy are also present