London is now a more global city than New York Essay

London is now a more orbicular city than new York - Essay patternThe criteria used for identification is usually based on a yardstick value which considers the producer operate sector or the imminent determination which basically compares the productivity of the cities. There are a name of global cities in the globe including London and juvenile York.Economic characteristics of a global city A global city serves as the corporate headquarter for multinational corporations, financial institutions, stock exchanges, law firms and conglomerates that influence the economy of the world as a whole.London offers major business and financial services for example it is stand to more than 33% of European headquarters of Global Fortune 500. To be a global city, it should also be fit to contribute some considerable financial output to the citys regions and the nations gross domestic product A global city needs to appear at the top of the cost of living. It should be home to major stock ma rkets.More than 40% of the worlds foreign equities and shares are traded in London, more than are traded in natural York.Over 30% of the worlds foreign exchanges take place in London, which is more than Tokyo and New York put together. New York, same to Tokyo rely mainly on their large American and Asian domestic markets man around 80% of Londons business is international.Political characteristics London, Berlin, Tokyo, Paris among others, feature among the cities that have achieved this. New York is not among them. The standards of living or the quality of life should be considerably high.