Ch 12. Globalization, Innovation, 21st Century

by Kong H
A study has found that more people are living in cities than in rural areas, and this may be due in part to the financial markets, the cultural change, and political influence. The management consulting firm A.T. Kearney teamed up with the Chicago Counsel on Global Affairs and Foreign Policy magazine to conduct a study on the world’s cities to see which ones has globalized most in terms of culture and attractiveness. The number one city that came out on top was New  York, its leading role in the business and financial sector along with the diverse cultural population and concentration on international organizations. Going second and third respectively was London and Paris, which coincidentally follows the same attributes as that of New York. In some aspects of the study, they found that cities such as Tokyo, Hong Kong, and Los Angeles round out in the top or most globalized cities. This is due to the fact that those cities are well supported and maintained by large business corporations and financial markets. But in addition to those factors that attracts so much people includes universities, museums, and a diverse cultural population. Hence they are factors of one another, and like the dominoe affect, they each is the reason in the globalization of the cities. Other cities that fare in the top were San Francisco bay area, Buenos Aires, Beijing and Sao Paolo. Once again a major factor in these cities being much more globalized is due to the reason that they hold high financial markets and organizations, and where you can make big money is where people will want to be.

This article is relevant to the chapter we are lecturing about in which businesses are globalizing, this means that a business is becoming more involved in the cultural and political contract, despite where in the world they are. For example, take findings in the study about New York, they have skyscrapers where hundreds of businesses are run, and with that lots of money and financial services are rendered.

Mabe, Matt. (October 29, 2008). The World’s Most Global Cities. BusinessWeek. retrieved November 16,  2009.