Define the term ‘world city’ and outline the role of world cities PDF

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Define the term ‘world city’ and outline the role of world cities A world city is a city that acts as a major centre of finance, trade business, politics, culture, science, publishing and all associated activities – serving not just a country or region. Some of the main world cities include London, New York and Tokyo. All three of these major cities are the major centre for euro trading since its introduction in1999 and are important centres for financial authority and control. For example Wall Street in New York is the home of the most important exchanges in the world including the New York Stock Exchange. London has more foreign exchange companies listed on the ASX than any other city and has nearly 600 foreign banks in the city e.g. Bank of America which is also located in New York who have 4 of the worlds largest banks including J.P. Morgan Chase as well. World cities aren’t just an economic hub, but are also symbols for cultures. For example Broadway, Times Square in New York is one of the worlds most visited tourist attractions drawing an estimated 50 million visitors annually. Times Square is also home to MTV's headquarters and ABC's 'Good Morning America' is broadcast in front of a live audience from its office at 44th and Broadway. Moreover, world cities are also important political centres and often host international conferences with the largest located in New York as it is the home to the United Nations general assembly HQ. Whilst London, is a key location of specialised law firms such as Clifford Chance and professional associations such as the British Medical Association....