The Global City - Assignment Example

The Global City A global city, also referred to as world city, is a geographical area, especially a large city that acts as the focus of the world’s economic and financial activities, where such a city has a great bearing on the control of the commercial and financial activities of the world [1]. A global city bears a large percentage of the world’s financial transaction, and there are twenty-five cities in the world which control almost the entirely global financial transactions. Among them, New York, London and Tokyo stand out as the most influential cities in the world, in matters of economy and financial transactions, and they are characterized by large scale in-migrations from different countries, societies and cultures throughout the world [1]. According to Sassen, a global city refers to the central “command and control point” of the global economy, where corporate presence is the fundamental characteristic, with many of the multinational corporations based in the city as their headquarters. Further, productive service companies such as accounting, management and law firms have also been attracted into the city, to provide services to the major corporations with their headquarters in such cities [1]. Productive Support Services in London Area Spitalfields The concept of global city developed in the past two decades, and has become a phenomenal concept in the modern world, owing to the ability of the global cities to influence the financial and the economic activities of the world. History of London Area Spitalfields London Area Spitalfields is a typical representation of a component of a global city, owing to its spirit and strong sense of ethnic and national community mix, where the region is home to a wide range of nationalities, cultures and ethnicities, most of them having migrated into the region from different parts of the world [2]. A major characteristic of a global city is its community integration, made up of different nationalities, ethnicities, cultures, as well as economic and socially stratified classes of people. The population comprises the affluent, the middle-income classes and the low income classes, living within the same neighbourhood. Aspects of different socially stratified classes of societies The rise of the London Area Spitalfields as a global city started in the early 17th century, specifically in 1669, when Truman’s Brewery was opened and was followed by a major boost in 1682, when King Charles II issued a charter allowing for market activities to be held on two market days, namely Thursday and Saturdays [3]. It is the success of the market that encouraged people to settle in the region, and in-migration then followed, with the French being the first group to immigrate into the region, to bring their silk weaving skills which were highly desirable in the market. Subsequently, the Irish in-migrated into the region escaping from the potato famine, and were followed by the Jews. Between 1880s and 1970s, the area became an overwhelmingly Jewish community area, representing the largest Jewish community in Europe [4]. The Bangladeshi also followed the in-migration route, and by the early 20th century, the community had established itself in the London Area Spitalfields, and introduced further Eastern cultures, businesses and trades. Therefore, the London Area Spitalfields suits the definition of a Global city, because it has become the societal and cultural melting and fusion point, where different cultures from the East and the West were integrated, to create a unique regional culture of its own [5]. The evidence of the people who have given the London Area Spitalfields its unique name and culture is still observable to date, with the existence of Jewish synagogues, Methodist Chapel, Muslim mosques and Huguenot church for Christians [3]. Characteristics of London Area Spitalfields In present day, the London Area Spitalfields is a Global City is a highly fashionable area of London city, which accounts for a high percentage of the London economy due to its characteristic popular markets such as the Brick Lane Markets, the celebrated Old Spitalfields Market and the Petticoat Lane Market, while also being home to the London’s Commercial Street, which is the core of London’s economy[6]. Commercial Street, London Further, the London Area Spitalfields is characterized by high occupational polarization, with a great number of affluent working class that is equally matched by low class workers, who cannot afford the affluent life of the Global City, due to their low incomes [2]. The occupational polarization arises from the fact that the London Area Spitalfields is a region that harbours both large multinational organizations, as well as other productive services smaller firms, which seeks to offer the low-wage labour that is greatly required by the large corporations. The large banking, manufacturing, financial and other service multinational corporations require the service of low-wage labour such as that of cleaners and courier services, which effectively integrates the region as an occupationally polarized region [3]. Therefore, the region consists of traditional and new shops, restaurants and homes, which serve the needs of different categories of the residents in the area, ranging from very classy and affluent establishments, to low-cost ones. The reputation of the London Area Spitalfields has greatly grown over the years, accompanied by infrastructural and commercial developments; which has seen the development of the modern London Area Spitalfields, characterized by inflated housing prices, and a characteristic curry London capital [5]. Further, the London Area Spitalfields is now characterized by high congestion in the streets around the area, considering that it does not have sufficient room for expansion, yet the area has become one of the most commercially and financially active regions of the London City. Congestion in the Streets of London Area Spitalfields It is due to the London Area Spitalfields that the city of London has now expanded beyond its historical northern boundary, with the development of new modern office blocks in Bishopsgate and modern Spitalfields Market, while the some parts of the Old Spitalfields Market have been demolished, to pave way for the construction of new leisure amenities, after the region has emerged as one of the major leisure hubs in the city of London [2]. Despite the differences in the economic classes in the London Area Spitalfields, which is characterized by physical and social separation, the Spitalfields market and the Bishopsgate areas are functionally integrated. List of Neighbourhoods: Spitalfields The Brick Lane On the southern edge of the London Area Spitalfields is the Brick Lane, which is the neighbourhood that comprises the largest Bangladeshi community in the city of London [3]. The Bangladeshi in-migrated into the London Area Spitalfields in the late 1970s, after the Jewish, who were previously the largest community inhabiting the region moved, leaving a room for the Eastern culture to integrate with the western cultures, and form of fusion that is uniquely a cultural hybrid of London city. The neighbourhood is famous for its Asian cultural cuisine, which has emerged as a great attraction of visitors in the region that harbours many curry houses, hence the curry capital of the city of London [4]. The neighbourhood is also a haven of small trades and businesses, which serves the needs of the low-income population that lives in the region who cannot afford the affluent expenditure in the malls and stalls within the region [5]. Brick Lane Street Spitalfields market The modern Spitalfields market stands on the Westside of the Brick Lane, and acts as the buffer zone connecting Brick Lane to the London city, representing an ultramodern development that consists of new office blocks and leisure facilities, as well as modern business premises, all meant to attract visitors and tourists into the region, which is already highly popular as a leisure and commercial hub [2]. Further, more upmarket shops and restaurants have recently been developed in the region, seeking to serve the city workers and other tourists who visit the leisure facilities in the region. The regions infrastructure represents international designs, seeking to cater for the interest of the international community, which forms the bulk of the population in the region [3]. Ultramodern commercial facilities in upmarket Spitalfields Liverpool Street Station and Broadgate The Spitalfields market opens right into the Liverpool Street Station, which forms the global commercial and financial hub in the city of London, where global financial connection is at its core, with high rates of international financial transactions and remittances undertaken in the region, by the extensive international and multicultural financial and business establishments situated in Liverpool Street Station and Broadgate [3]. The same neighbourhood also serves to provide office space, as well as shops and restaurants that are used by the working class, serving the financial, industrial and business establishments that are situated in the area [6]. Commercil establishments in the Liverpool Street Station and Broadgate region The population in the Liverpool Street Station and Broadgate consists of mixed ethnic and mixed nationality population, which is highly involved in financial remittances to overseas regions, offering a unique form of global financial connection to Brick Lane [5]. Moreover, the financial transactions in the area offers the much needed functional connectivity between Brick Lane and Liverpool Street Station and Broadgate areas, which are physically and socially separated [3]. The Bangladeshi immigrants are involved in offering menial labour in the financial, industrial and business establishments in the Liverpool Street Station and Broadgate, since they have in-migrated into the London Area Spitalfields in high numbers. References 1. Sassen, S. (2005). The Global City: Introducing a concept. Brown Journal of World Affairs 11(2), 27-43. 2. Christopher, T. (2004). “Life and death in London's East End: 2000 years at Spitalfields.” Museum of London Archaeology Service, 7-29. 3. London Town. (2013). London area of Spitalfields guide. Retrieved: December 11, 2013 from http://www.londontown.com/LondonAreas/Spitalfields/ 4. Smith, M. & Eade, J. (2008). Transnational Ties: Cities, Migrations, and Identities. Transaction Publishers. 148-149. 5. Spitalfields History (2013). Retrieved: December 11, 2013 from http://www.spitalfields.co.uk/about_history.php#.Uqj3JHrM_Gg 6. Winn, C. (2007). I Never Knew That About London. Ebury Press. Read More