Global Cities: Rapid Growth and Economy

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Global cities are strategic spatial nodes of the world economy with localized basing points for capital accumulation in an age of intensified globalization (Brenner, 1998).
(Sassen, 2005), argues that centralization has taken a new form. The major contributor to this new form is reorganization of the financial industry and spatial dispersion of economic activities. This has led to an overall concentration in control and ownership. Dispersion of the economic activities has led to specialization of firms as well as expansion in central functions. The financial industry is characterized by proliferation of financial firms, innovations and increased growth.
Global cities have shown a dominant socioeconomic trend. This includes the labor market segmentation, geography of capital flows, social conflict, expansion of producers and financial services (Brenner, 1998).
According to (Sassen, 2005) activities of production are scattered on a global basis. This has led to complex production networks that demand new innovation. In order to ease their management specialization has advocated for clustering of related activities at different locations. This has enabled coexistence of cities.
Background
Growth and expansion of Global Cities cannot be isolated from public health and the social life. Advancement in technology and economic growth go hand in hand with the existing social systems. Global cities have experienced huge morphological changes within their spatial locations. This is because people have continued to migrate into the cities, causing them to grow in space through time and to experience rapid transformation. This has resulted into many challenges. Poor solid waste management, deteriorated urban infrastructure potholed roads an...

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