What Makes a 'Global' City?
The 2008 Global Cities Index | Foreign Policy | December 2008
Today globalization takes place in places where masses of people live and work: in cities. But in order to earn the title "global" a city must provide ideas and value that impact the rest of the world. Additionally, global cities are characterized by bigger financial centers, the best universities, diverse inhabitants, the best exchange of information, the most influential international organizations, and the inclusion of the city's economic structures in the global network. This enables the city's inhabitants to benefit from global integration and even set world wide trends.
Number one in the ranking is New York. The financial capitol of the world leads due to its network of multinational companies and through the innovation of its diverse inhabitants. Following New York are London, Paris and Tokyo. So far the usual suspects are in the lead, but new competitors are close on their heels. Hong Kong scores in place 5 with its strong financial market, Singapore with its role as an economic center, and Chicago (8) with its human capitol. Beijing (12), Moscow (19) and Dubai (27), once isolated societies, now join the ranks of leading metropolises. Although Washington DC finished 11th, it easily topped New York, Paris and Brussels as the leader in global policy.
This summary was prepared by the Atlantic Community editorial team from "The 2008 Global Cities Index" published here by Foreign Policy, November/December 2008.
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