1. The Global City: New York, London, Tokyo
By: Saskia Sassen
• Part 1: The
Geography and
Composition of
Globalization
• Part 2: The
Economic Order of
the Global City
• Part 3: The Social
Order of the Global
City
• In Conclusion:
A New Urban Presented by: Dan Berkowitz
Regime?

2. New York London
Tokyo

3. Definitions
Global Economy Internationalization
“A global economy is one “the act of bringing
whose strategic core
activities, including something under
innovation, finance and international control”
corporate management,
function on a planetary Princeton WordNet
scale on real time” Search
Carnoy 1999

4. Trends of the New Industrial Complex (NIC)
Economic
Activities Shift from Production to
Finance
International Financial
Market surpassing Direct
Foreign Investment
US, Japan and UK
function as a single
marketplace

5. Major Cities and
Globalization of Economic Activities
Thesis and Hypothesis
Central Increase of Hypothesis Spatial dispersion
Thesis Globalization of Production
Concentration of Reorganization of
Economic Control Financial Industry
Management and New Forms of
control of global Centralization
finance and servicing
network

6. Other Questions Covered
How has globalization of economic
activities affected urban hierarchies and
systems which are based on national
location?
How durable is an economic system
based on management, services and
financial industry?
How durable are the spatial results of
this system that requires high density,
high agglomeration and high real estate
prices and competition?

7. Impact of the NIC on City’s Socio-
Economic Structure
1. Highly competitive 5. Post WWII growth based on
economic environment manufacturing for mass
2. Firms cut production consumption
costs and slash all Suburbanization, social
social wage for workers provisioning, expansion of
infrastructure
3. Growth dependent on a
weak national economy 6. Current growth based on
and the decline of international market and
national manufacturing consumption by firms and
industry governments
4 Socio-economic
Polarization

8. Socio-Economic Results
Benefactors of the NIC
Professionals, managers, brokers
Work harder, less job stability, get
paid less than typical upper class
New cosmopolitan & global work
culture
New perspective of the good life:
art, luxury consumption, antiques,
cuisine, designer labels, converted
downtown lofts
DINK lifestyle clash with
traditional post-WWII middle class

9. Sample list of Firms
Lehman Brothers Holdings Inc.,
JPMorgan Investment Bank,
Goldman Sachs Group
Sumitomo Trust and Banking Co. Ltd.
Bank of Tokyo-Mitsubishi
KBC Financial Products
Citigroup Inc. (New York and London)
HSBC Holdings (New York and London)
Deloitte Touche Tohmatsu (New York and London)
Business Development Asia (investment banking firm in NYC, London, Tokyo,
etc.)

10. In Conclusion
1. Cities have become command
points of world economy
2. Cities work together to fulfill
integrated economic tasks
3. New Global cities replace the
industrial/regional complex of
cities
4. New Class alignment, new
norms of consumption, and less
centrality of public goods and
the welfare state