World City

Definition

A world city (also known as global city) is an important node in the global economic system. They are characterized by being an important site for international finance, law, politics, culture and they have highly developed infrastructure.

Analogy

Imagine world cities as airports. Just like how major airports have many flights coming in from all over the world making them crucial hubs for travel; world cities are crucial hubs for global economy where major decisions affecting world's economy are made.

Related terms

Globalization: The process by which businesses or other organizations develop international influence or start operating on an international scale.

International Trade: The exchange of goods and services between countries.

Infrastructure Development: The construction and improvement of foundational services with the goal to stimulate economic growth.