Characteristics Of Global Cities

Another characteristic that was mentioned by Saskia Sassen is “Second, the global cities have become the leading locations for financial services and other specialized producer services that corporations use” (Kleniewski, 138). The main accomplishments made by the global cities is that their able to provide employment in various corporations such as banks, accounting, management, in addition to becoming in involved in the stock market. “Third, in addition to their command functions, London, Tokyo, and New York are also sites for the production of goods and services (particularly services) in the evolving postindustrial economy” (Kleniewski, 138). London, Tokyo, and New York are the three main countries that have a strong and wealthy economy.

London, Tokyo, and New York have been changing the way their economy has been functioning in a worldwide market. Global cities are known to produce a lot of different types of merchandise that can help a country to become wealthy. Their society have also benefited from the change in the economy because their able to produce more in an advanced technological era in addition to becoming involved in a proficient

The two most important theories that are included in this term are acknowledged as the Marxist Theories along with the World System Theory. “Karl Marx noted the huge disparity in economic well-being among the different nations of the globe, but he thought that capitalism would spread around the world, reducing the economic differences between countries over time” (Kleniewski, 158). What he is trying to say is that capitalism should have been able to develop a stable economic system through countries that have a less developed economy. Lenin in the other hand, “argued that imperialism, the development of political empires based on military conquest, was a natural stage of capitalist development” (Kleniewski, 158). Lenin thinks that by using military power along with having an increase amount of corporations, you’re able to develop a stable economic