In the past few years some very thoughtful and provocative work has been done that helps shed light on these issues, and weve compiled many of this work here and here. But there is no one-size-fits-all solution to the challenges we face. The opportunity of the blue economy At the SBEIF, delegates highlighted industries like blue biotech, decarbonization of shipping, sustainable aquaculture, offshore renewables, natural tide control mangroves management blue carbon sequestration, shrimp production genetics and more for their remarkable economic potential. London: Routledge, 2004. . Stock market today: Asian shares are lower after central bankers Holston, J., and A. Appadurai. The Cliquishness of World Cities, Global Networks, 5/1 (2005): 7191. BEIJING (AP) Asian stock markets were mixed Thursday after leaders of major central banks said they need to keep interest rates high to fight persistent inflation despite fears that might tip the global economy into recession.. Shanghai, Hong Kong and Seoul retreated while Tokyo and Sydney advanced. MasterCard. In the past, and up to quite recently in fact, the center was synonymous with the downtown or the CBD. The nearest Pret A Manger to The Economists office in London has closed; but one is opening next to the Underground station near your correspondents house a few miles out. Graham, S. ed. Further, the pronounced orientation to the world markets evident in many of these cities raises questions about the articulation with their nation-states, their regions, and the larger economic and social structure in such cities. More disconcerting is the tail end of the distribution. We can see here the formation, at least incipient, of transnational urban systems. Malden, MA: Blackwell, 2004. Global Concentrated poverty tends to be self-reinforcing: low-income communities have fewer fiscal resources (despite greater needs), producing low-quality public services. 3 Big problems often hide big opportunities. To learn more about cookies, click here. Such business networks have been crucial long before the current technologies were developed. Funded by GFDRR and the Japan-World Bank Program for Mainstreaming Disaster Risk Management in Developing Countries, The R2R Program provides the how how to prepare people, communities, and local governments to be more resilient and ready to respond and recover from disasters better and faster. One of the primary reasons that refugees areincreasingly moving to cities is to find work. In the case of global cities, the dynamics and processes that get territorialized are global. New York, Harper and Row, 1984. Cybercities Reader. Copjek, J., and M. Sorkin, eds. Finally, states, place-bound institutional orders, have played an often crucial role in producing regulatory environments that facilitate the implementation of cross-border operations for their national and for foreign firms, investors, and markets (Sassen 2008, ch. Portland is our home and a local laboratory for many interesting developments in urban living. This is especially the case with firms involved in global markets and non-routine operations. It opens up the global city as a space for a new type of politics, one that claims rights to the city. The strategic role of these specialized services as inputs raises the value of top-level professionals and their numbers. New York: Rowman & Littlefield, 2006. London/New York: Routledge, 2005. Far from neutralizing geography the regional grid is likely to be embedded in conventional forms of communications infrastructure, notably rapid rail and highways connecting to airports. Bartlett, A. The City and the Self: The Emergence of New Political Subjects in London. In Deciphering the Global: Its Spaces, Scales and Subjects, S. Sassen, ed. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. Economic paradigms are shifting. Krause, L., and P. Petro, eds. 6. Central Paris is still much less lively than the rest of le-de-France, for instance. Cambridge: Polity, 2002. This requires examining not only communication capacities and the power of multinationals, but also the infrastructure of facilities and work processes necessary for the implementation of global economic systems, including the production of those inputs that constitute the capability for global control and the infrastructure of jobs involved in this production. In discussions of growing inequality most of our attention is directed to the growing wealth of the top 1 percent or top 0.1 percent of the income distribution. This in turn brings up a question of control linked to the currently inadequate capacities to govern transactions in electronic space. A central urban hierarchy connects major cities, many of which in turn play central roles in the wider global system of cities: Paris, London, Frankfurt, Amsterdam, Zurich. economic It explores opportunities and challenges inherent tocash and livelihoods programming, identifying good practices and ways to integrate other relevant sectors in order to produce better outcomes for clients. Global cities around the world are the terrain where a multiplicity of globalization processes assume concrete, localized forms. Further, insofar as the national as container of social process and power is cracked (Taylor 1995; Beck 2006; Marcuse 2003) it opens up possibilities for a geography of politics that links sub-national spaces across borders (Sassen 2008: ch. A problem arises when comparing metropolitan areas wildly different sized neighborhoods. Marcotullio, P., and Lo Fu-Chen. Lessons from IRC's cash and livelihoods programs in cities within Lebanon and Jordan. economic I think this is an important issue that has been lost somewhat in discussions about the neutralization of geography through telematics. 4 & 5). Poststructuralism, Power and the Global City. In P. J. Taylor, B. Derudder, P. Saey, and F. Witlox, eds., Cities in Globalization: Practices, Policies and Theories. There is an expectation in much of the literature on these technologies that they will override older hierarchies and spatial inequalities through the universalizing of connectivity that they represent. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. On employment, there is reason for optimism. This is in many ways the mirror image of the change occurring at the high end of the income distribution. Sennett, R. The Conscience of the Eye: the Design and Social Life of Cities. The higher inequality in a region, the greater will be the fraction of a regions population concentrated in the tails of the income distribution. 5 Economic Opportunities Economic opportunities in a Untangling a Global-Local Nexus: Sorting Out Residential Sorting in Shanghai. Informalizing part or all production and distribution activities, including of services, is one way of surviving under these conditions. WebCreating Economic Opportunity The Presidents plan builds on the progress weve made over the last four years to expand opportunity for every American and every community willing to do the work to lift themselves up. Being in a city becomes synonymous with being in an extremely intense and dense information loop. Race, Identity and Citizenship. One or two work-from-home days a week may make people more productive on both their at-home and in-office days. In the case of a complex landscape such as Europes, we see in fact several geographies of centrality, one global, others continental and regional. Quantitative data can shed light on the functions and performance of urban economies. 2006; Taylor 2004; Lo and Yeung 1996; Harvey 2007; Orum and Chen 2004). These include: own source revenue generation, including diversifying revenue sources; inter-governmental fiscal transfer systems, especially to regional and local governments in lagging regions which need more financing; improving financial management performance of municipalities and service delivery agencies; and creating an enabling environment for private sector participation and financing through appropriate regulatory frameworks. Smith, R.G. World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use. Economic Opportunity Re-presenting the City. Refugees and other displaced individuals are forced to restart their lives when they flee their home country, but they should not have to start from scratch, particularly when it comes to acquiring skills, training, experience and education. Secondly, a focus on the city in studying globalization will tend to bring to the fore the growing inequalities between highly provisioned and profoundly disadvantaged sectors and spaces of the city, and hence such a focus introduces yet another formulation of questions of power and inequality. Talent drives city success:The biggest single factor explaining urban economic success is human capital. A series of prototypes have been piloted to build a body of knowledge on urbanization challenges and public policy implications in a variety of country settings, including Colombia, India, Indonesia, and Vietnam. This study provides evidence that city government participation in global To learn more about economic opportunity and its ties to concentrated poverty, read our comprehensive report here. Create a free account and access your personalized content collection with our latest publications and analyses. An interview on building organizational resilience: A board-level At home white-collar workers can complete taxing tasks in peace, giving them time to collaborate when in the office. The Bank is well-positioned to help cities expand access to finance from multiple sources, including private finance, but also to strengthen their fiscal capacities and systems that can be sustained in the long run.

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