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A global city, also known as a world city, is a prominent centre of trade, banking, finance, innovation, and markets. The term "global city", as opposed to megacity, was coined by Saskia Sassen in a seminal 1991 work.[citation needed] Whereas "megacity" refers to any city of enormous size, a global city is one of enormous power or influence. Global cities, according to Sassen, have more in common with each other than with other cities in their host nations. Notable examples of such cities include São Paulo, London, Istanbul, New York City, Hong Kong, Paris, Shanghai, Singapore, Mexico City, and Tokyo. The notion of global cities is rooted in the concentration of power and capabilities within all cities. The city is seen as a container where skills and resources are concentrated: the better able a city is to concentrate its skills and resources, the more successful and powerful the city. This makes the city itself more powerful in the sense that it can influence what is happening around the world. Following this view of cities, it is possible to rank the world's cities hierarchically.[37] Critics of the notion point to the different realms of power. The term global city is heavily influenced by economic factors and, thus, may not account for places that are otherwise significant. For example, cities like Istanbul, Jerusalem, Karbala, Lisbon, Mashhad, Mecca, and Rome are powerful in religious and historical terms but would not be considered "global cities." Additionally, it has been questioned whether the city itself can be regarded as an actor.[by whom?] In 1995, Kanter argued that successful cities can be identified by three elements: good thinkers (concepts), good makers (competence) or good traders (connections). The interplay of these three elements, Kanter argued, means that good cities are not planned but managed. |
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