The Impact of the Economic Globalization on Urban and Rural Spaces

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Submitted By julijd14
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The Impact of the Economic Globalization on Urban and Rural Spaces The world is experiencing the largest wave of urban growth in history. For the first time ever, more than half of the world’s population lives in cities. This rapid urbanization trend is fueled by globalization and should concern all of us because it will continue to effect the way we live for many years to come. In order to survive in the globalizing world we need to become educated of the global economy and figure out how to benefit from it. With this in mind we first need to understand how the globalizing economy impacts cities and rural places worldwide. Many cites around the globe are continuing to expand and integrate themselves into the global economy. Likewise, processes related to economic globalization continue to extend and affect even the remotest rural places. Thus, challenging the distinction between urban and rural spaces. To understand how the globalization economy impacts cities we need to be familiar with the economic globalization. This term refers to the process which integrates economies between cities which has lead to the emergence of a global market. In other words it’s the rapid increase of interdependence between national economies worldwide facilitated by the increasing movement of goods, services, technology and capital internationally. The new global economy calls for highly specialized markets and firms which are concentrated in global cities. This makes cities places of power that control the global economy. Saskia Sassen defines global cities as the strategic sites for the management of the global economy and the production of the most advanced services and financial operations that have become key inputs for that work of managing global economic operations. These advanced services and financial operations create jobs for many highly skilled…...

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