London, New York and Tokyo as Global Cities Research Paper

London, New York and Tokyo as Global Cities - Research Paper Example Founded by the Romans, London stands on River Thames and has acted as a key settlement spot for almost two millennia (Beaverstock 114). New York City, located in New York State in the Northeastern expanse of the United States, is the state’s and nation’s most populous city. Courtesy of New York City, New York State is presently the United States’ largest and busiest immigration gateway. Japan’s capital city, Tokyo, is also the world’s largest metropolitan area and among Japan’s 47 prefectures. Ancient history suggests that Tokyo was a fishing village in the 15th century, but has evolved through being a cultural, religious and military stronghold to its present economic giant status. Presently, Tokyo is home to the Imperial Family of Japan and the government’s headquarters. In the context of â€Å"global cities†, London, New York and Tokyo lead the world, and are classified as Alpha++ cities. Alpha++ cities are the most globally integrated cities with other. In this perspective, global cities form critical nodes in the worldwide economic framework (U.S. Census Bureau 96). The first part of this paper will provide a brief historical background and overall economic profile of the three cities. Then, it will examine the details of size and diversity of the population and labor migration of the three cities. ... In 1176, a new stone bridge replaced the wooden one built by the Romans. During the reign of Edward III, London became a true capital (Beaverstock 121). Economic Profile Presently, finance remains the largest industry in London, with financial exports contributing largely to the balance payments of the United Kingdom. This makes it a key economic and commercial center for multiple interests on the international business platform, ranking fifth among the world’s largest city economies. In 2012, its Gross Domestic Product (GDP) was estimated at slightly above $ 731 billion. Per capita GDP for the same year was at $51,798 (U.S. Census Bureau 78). With its economic profile, London as a city has been generating about 20 percent of the entire United Kingdom’s GDP for the past decade, while the metropolitan area on its own generates 30 percent. As per statistics at the beginning of 2013, with over 841,000 businesses in the private sector, London had the highest number business es than all other regions and countries in the United Kingdom. Out of the private sector businesses, 30 percent are collectively in the professional, technical, scientific and construction industries, forming a significant part of the small and medium enterprises (SMEs). The major business districts are, in ascending order, Lambeth & Southwark, Canary Wharf, Camden & Islington, Westminster and The City, where economic activities range from accountancy to legal, real estate, architecture and government operations (Scheltema & Westerhuijs 69). Size and Diversity of the Population Between the 16th and 19th centuries, London’s population grew from 50,000 to 900,000 in spite of unhealthy