Daily Management Review

Nine most global cities on Earth


09/01/2017


A global city is a city considered to be an important element of the world economic system. Such a city usually bears key importance for large regions of the Earth and has a serious political, economic or cultural impact on them.



pixabay
pixabay
In contrast to the concept of "metropolis", which can be used in relation to the center of a particular agglomeration or region, the "global city" makes sense only within the system of cities throughout the globe.

First come cities of classes "Alpha ++", "Alpha +", "Alpha". Next are cities of Alpha class.

Below is a ranking of global cities for 2016.

London

Class: "Alpha ++"

London is the capital and largest city of the United Kingdom of Great Britain and Northern Ireland. The city administratively forms the region of Greater London, divided into 33 self-governing territories.

London belongs to the global cities of the highest rank and is one the leading world financial centers. Its economy makes up the fifth part of the country's economy. London is the most important economic and financial center of Great Britain and Europe; one of the global cities, competing with New York for the title of the world's leading financial center.

For centuries, city's financial life had been focused in the City's business district. Since the 1990s, Canary Wharf, located in the eastern part of the city, has been struggling to seize the title of financial and business center of London. There are headquarters of many English and multinational companies, including BP, Royal Dutch Shell, Unilever, Corus Group, SABMiller, Cadbury, and others.

Central offices of more than 100 of the 500 largest European companies are located in the British capital. The most important branch of the city's economy is finance, including banking services, insurance, asset management; the city hosts headquarters of the largest banks and financial companies, including HSBC, Reuters, Barclays. One of the world's largest centers for foreign exchange and stock trading is the London Stock Exchange.

New York

Class: "Alpha ++"

New York is the largest city in the United States, one of the biggest agglomerations in the world. This is the world’s most important financial, political, economic and cultural center. Along with London and Tokyo, the city is called one of the three main centers of the world economy.

New York is the most important financial center of the country and the world, financial organizations located in the city control up to 40% of world finance. This city hosts such financial institutions as Citigroup, J.P. Morgan Chase & Co., American International Group, Goldman Sachs Group, Morgan Stanley, Merrill Lynch, etc. In addition, there are headquarters of many large non-financial corporations, including Verizon Communications, Pfizer, Alcoa, News Corp., Colgate -Palmolive etc.

New York is well-known for its New York Stock Exchange, NASDAQ, the American Stock Exchange, the New York Mercantile Exchange and the New York Board of Trade. The New York financial industry is centered on Wall Street in Lower Manhattan.

Singapore

Class: "Alpha +"

Singapore is a city-state located on islands in Southeast Asia. The economy of Singapore is one of the most open and corruption-free economies. The country is famous for its stable prices, and GDP per capita is one of the highest in the world.

Singapore is a highly developed country with a market economy and low taxation, in which transnational corporations play an important role. The city is ranked among the "East Asian tigers" for a rapid jump in the economy to the level of developed countries. The country has developed electronics, shipbuilding, and financial services.

This is one of the largest manufacturers of CD-drives. Singapore holding company Raffles owns the international hotel chain Swissotel.

Hong Kong

Class: "Alpha +"

Hong Kong is a special administrative region of the People's Republic of China, one of the leading financial centers of Asia and the world. Hong Kong is an important center for international finance and trade, and the headquarters concentration level is the highest in the Asia-Pacific region. In terms of per capita gross domestic product and gross urban product, Hong Kong is the richest city in the PRC.

Paris

Class: "Alpha +"

Paris is the main political, economic and cultural center of France. It belongs global cities, world financial centers. Headquarters of UNESCO and other international organizations. Paris - the most important economic center of France, it produces 10% of the country's GDP. Almost a quarter of all manufacturing enterprises in the country have opened their offices and headquarters in the metropolis. In Paris, most of the French banks, insurance companies and other financial enterprises are located. The main French telecommunications companies are also located mainly in Paris.

Beijing

Class: "Alpha +"

Beijing is the capital and one of the cities of central subordination of the People's Republic of China.

In addition, Beijing is the political, educational and cultural center of China, while the main economic centers are Shanghai and Hong Kong. In recent years, the city has been assuming the role of the locomotive of entrepreneurial activity and the main field for the creation of innovative enterprises.

Recently, Beijing has become increasingly popular as a center for innovative entrepreneurship and a successful venture business.

This growth is reinforced by the large number of Chinese and foreign firms specializing in venture financing, such as Sequoia Capital, whose headquarters are located in Chaoyang District. Despite the fact that the economic center of China is considered Shanghai, in many respects can be explained a large number of multinational companies, yet the center of entrepreneurship in China is called Beijing.

Tokyo

Class: "Alpha +"

Tokyo is the capital of Japan, its administrative, financial, cultural, industrial and political center. It is the largest urban economy in the world.

Tokyo is one of three world financial centers, along with New York and London. Also Tokyo is one of the most economically developed agglomerations in the world.

Tokyo is a large international financial center, which hosts headquarters of some of the world's largest investment banks and insurance companies, and also serves as a hub of the transport, publishing and broadcasting industry in Japan.

Dubai

Class: "Alpha +"

Dubai is the largest city of the United Arab Emirates, the administrative center of the emirate of Dubai, the most important commercial and financial center of the UAE and the entire Middle East. Dubai is the largest trading, financial and tourist center of the Middle East.

The pace of development of the city is comparable with Shanghai. This is the third most important re-export center in the world (after Hong Kong and Singapore). Significant value in doing business in Dubai is represented by free economic zones. The offshore zone is located in Jebel Ali district.

Shanghai

Class: "Alpha +"

Shanghai is the largest city in China and the world in terms of population.

This is one of the four cities of central subordination of the PRC, an important financial and cultural center of the country, as well as the world's largest seaport.

Shanghai is the financial and commercial center of China.

In 1990, the Shanghai Stock Exchange was established in Shanghai. The Shanghai Stock Exchange is a modern and respected platform for investors.

The Shanghai Futures Exchange is one of the world's leading commodity exchanges in terms of trading volume in futures contracts for natural rubber and copper. Shanghai Gold Exchange is the largest exchange of China in the precious metals trade.






Science & Technology

A City Is Can Be Converted To A Living Organism, Showcases China’s Huawei

Workers Would Be Helped To Lift More By These Robotic Vests

British Parliament to assess impact of e-cigarettes

Wind energy will provide 30% of Europe's needs by 2030

A Major Platform For Artificial Intelligence Is Its Mobile Devices: Apple

Rumor: Apple will release a budget version of iPhoneX

With China Set To Dominate, 1 Billion Could Be Using 5G By 2023

Deutsche Telekom unveils next gen 5G mobile antennas in Europe

Diamonds are now the new gold

Expert Body Says Driving In A Driverless Car In An Inebriated Condition Or On Drugs Should Be Legalized

World Politics

World & Politics

Japan demands to lift embargo on food from Fukushima

Bernard Arnault clarifies on Le Monde’s “Paradise Paper” report

South Korea and the U.S. present a united front against the North Korean leadership

Europe is preparing an alternative to NATO

Ten smartest cities in the world

Parties of Germany seek a common ground to create a coalition

Special counsel Robert Mueller’s Russian probe could see its first arrest today

Losing Steam Is North Korea’s Relationship With China – The Former’s Sole Ally