DOI: https://doi.org/10.21847/1728-9343.2014.4(130).26690

World and global cities: similarities and differences

Iryna Skavronska

Abstract


The article is devoted to the proplem of determination of similarities and differences between world and global cities in the contemporary economic environment. The interpretation of terms "world city" and "global city" by various authors like P. Hall, S. Sassen, J. Friedmann and others is given. A world city is seen in terms of powerful politics, development of trade, culture and education while a global city is considered to be a center which includes not only trade, influential political activity, educational and cultural attributes but also located in there headquarters of TNCs and international organizations, prevailing financial and service sectors, information technology, innovations, sports mega-events hosting. In accordance with the Global Cities Index (GCI) top 20 global cities of the world in 2008-2014 are demonstrated. Similarities between world and global cities consists in the fact that they both operate in a globalized environment and are used by the global capital for organization of production and markets. Differences - including world cities are primary while global ones are secondary; forming of world cities is caused by historical and geographical factors as well as by development of trade as global cities due to innovations, technologies and strengthening of financial relations.


Keywords


a world city; a global city; financial relations; a service sector; global economy

References


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