Wikipedia entry. The Global city . Focusing on London Area Essay

Wikipedia entry. The Global city . Focusing on London Area Spitalfields - Essay Example 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 â€Å"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 Spitalf ields 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. ... 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 c ommunity 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