The Global City

List of Tables xi
Preface to the New Edition xvii

Acknowledgments xxv
One
Overview 3
PART ONE: THE GEOGRAPHY AND COMPOSITION OF GLOBALIZATION 17
Two
Dispersal and New Forms of Centralization 23
Mobility and Agglomeration 24
Capital Mobility and Labor Market Formation 32
Conclusion 34
Three
New Patterns in Foreign Direct Investment 37
Major Patterns 37
International Transactions in Services 44
Conclusion 63
Four
Internationalization and Expansion of the Financial Industry 65
Conditions and Components of Growth 66
The Global Capital Market Today 74
Financial Crises 78
Conclusion 83
PART TWO: THE ECONOMIC ORDER OF THE GLOBAL CITY 85
Five
The Producer Services 90
The Category Services 92
The Spatial Organization of Finance 110
New Forms of Centrality 122
Conclusion 126
Six
Global Cities: Postindustrial Production Sites 127
Location of Producer Services: Nation, Region, and City 130
New Elements in the Urban Hierarchy 140
Conclusion 167
Seven
Elements of a Global Urban System: Networks and Hierarchies 171
Towards Networked Systems 172
Expansion and Concentration 175
Leading Currencies in International Transactions 187
The International Property Market 190
Conclusion 195
PART THREE: THE SOCIAL ORDER OF THE GLOBAL CITY 197
Eight
Employment and Earnings 201
Three Cities, One Tale? 201
Earnings 221
Conclusion 249
Nine
Economic Restructuring as Class and Spatial Polarization 251
Overall Effects of Leading Industries 252
Social Geography 256
Consumption 284
Casual and Informal Labor Markets 289
Race and Nationality in the Labor Market 305
Conclusion 323
IN CONCLUSION 327
Ten
A New Urban Regime? 329
Epilogue 345
The Global City Model 346
The Financial Order 355
The Producer Services 359
Social and Spatial Polarization 361
Appendices
A Classification of Producer Services by U.S., Japanese, and British SIC 367
B Definitions of Urban Units: Tokyo, London, New York 369
C Population of Selected Prefectures and Major Prefectural Cities 373
D Tokyo's Land Market 374
Bibliography 383
Index 435