Increasing globalisation has had major impacts on the world urban system. As a result a group of cities has emerged as key nodes in the organisation and functioning of the world, known as World Cities. World cities, such as London and New York are a product of cultural and economic globalisation and act as nodal points for the multiplicity of linkages and interconnections that sustain the functioning of the world economy. These cities have developed distinct characteristics as a result of their dynamic nature, and are spatially distributed around the world.
Nature:
The emergence of World cities has been due to the globalisation of economic activity, which involves the development of stronger links between various countries. There has been a great acceleration in globalisation and the growth of world cities – due to:
• Technologic development in transport and communication
• Deregulation of trade and financial markets
• The emergence of and role played by Trans National Corporations (TNC’s)
• New ways of undergoing business operations and economic activity
• Emergence of a global market for lifestyle related commodities
This process of globalisation and the growth of world cities have had a number of impacts:
• Economic restructuring - A rapid expansion in world trade and relocation of labour intensive manufacturing processes to developing nations (megacities) with cheaper labour. World cities are emerging from the internationalisation of economic activity. TNCs are a key player in this rapid expansion as they have an increase in economic influence not only deciding what to produce but where to produce and distribute it.
• Spatial restructuring patterns in developed areas - the shift from residential and commercial investment in suburbs to higher-cost inner city housing and 'edge cities' or 'technoburbs' which are distinct urban nodes with larger metropolitan areas. This often