In What Ways Real Estate is a Conduit for Flows of Finance between Global Cities World-Wide - Essay Example

Its population was estimated to be close to one million residents (Hall 1997 p. 2) A few years ago, Manuel Castells and David Harvey began an era of stimulating research. The accomplishment was to connect the process of conglomeration of metropolis to the larger historical dynamic of industrial capitalism. From then on, the city was no longer regarded in terms of social ecology, which is dependent upon the elements of population and space. The new metropolis came to be viewed as an outcome of predominant social forces which were motivated by the capitalist concept of industrialization.

This conflict between the affluent and the modest became essential to how the metropolis developed (Friedmann 1986). In the past decade the research of the metropolis has been correlated to global economics. This new perspective refined insights into the dynamics of urban change. This enabled a required spatial approach on an economic system which has transcended national boundaries. The objective of this introduction is to research as basically as possible the main hypothesis which connect the formation of metropolis to worldwide economic processes.

This is intended to develop a framework for academic investigation. This academic research is composed of political considerations. These global cities have become the launching platform for global capitalism. There is a contrasting relationship. between industrialization in this time of global administration and the political affiliation of territorial concerns. This enables the comprehension of the processes which occur in the global cities and what is the causal attribution of political disagreement.

There are several aspects which will be reviewed. These aspects are the following: The manner and development of a global city's entry into the global economy and the tasks which are delegated in the global city. In the global city, the new system of production will be pivotal for any basic developments which occur. The global cities of the world are perceived as being points. This perspective is based on industrialization and economic perspectives. Global cities are the points of arrival for large populations of domestic and international migration.

The inception of global cities forms a perspective of the major contrasts and idiosyncrasies of industrialization. These contrasts and idiosyncrasies include territorial and economic separation Global city development produces social expenses which overshadow the social and economic capacity of the local governments. The exception being the city of Tokyo which is an attribute of Japanese industrialization. Tokyo has been able to succeed in deterring foreign economic interests from making major economic injections in this global city.

The economic potential of the global city dissipates under the multiple influences of dependent local economic situations and the worldwide economic situation (Friedmann 1986). Literature Review Goldman Sachs has been an important influence in the UK and the Euro zone The new prime minister of Greece, Lucas Papademos is a former employee of the European Central Bank and Goldman Sachs. Goldman Sachs is a high profile US concern whose impact is of great significance in the UK as it is in the Euro zone The previous director general of the Italian treasury, Mario Draghi, is also a former employee of Goldman Sachs.

The probable candidate for Berlusconi's post in Italy , Mario Monti, is also an interest of Goldman Sachs. Is it a coincidence that many of the