John Paul A.

Calunod
BSMT1 – A4
The Contemporary World

QUIZ – THE GLOBAL CITY

1. Why is economic power the most crucial determinant of a global city?
Economic power is the most crucial determinant of a global city because a city couldn’t
be a global city without economic power. Economic power turns a regular city into a global city.
Cities are where jobs are. Global cities have business all around it and an abundance of cash
and transactions being made every single day. These businesses powers the city’s economy
therefore attracting other foreign investors to do business. That is why global cities rely on stock
markets, corporate headquarters, and other economic factors for it to retain its status. A global
city wouldn’t be called a global city if it has no economic power. To put it simply, the city is the
body and economic power is the soul.
2. Why is there a lot of inequality in global city?
In my opinion, inequality exists in global city because addressing it would prove to be too
costly and way problematic. And without proper leadership and budgetary issues, it’s almost
impossible. First, affordable housing, meaningful education reform, and community
development require extensive funding and policy changes. Half-measures have resulted
largely in widening segregation. This cannot be addressed without leadership on budgetary
issues. Second, cities must ensure the wealthy pay more taxes to fund projects but this may
well drive them out of the city. Global cities revolve around money. It’s very difficult to balance
the line between the rich and the poor because almost always, the wealthy always win as it’s
always been about money. Global cities have become the inevitable victims of their own
success.