How Cities Matter

The economic dislocation and inequality generated by several decades of global integration and specialization is resulting in a backlash in many countries at the regional and national levels, as reflected in political polarization and rise of nativist, isolationist movements of both right and left.

Concurrently, in many major cities the globalization and integration of local economies continues apace with local governments opting out of or, on occasion, working at cross-purposes to the policies of national governments.

In a recently published survey of over 300 major metropolitan centers, by FP Analytics for World Trade Centers Association, majorities of respondents held that the ability to attract foreign direct investment, recruit and integrate educated immigrants, invest in connected infrastructure and build global connections were all major current as well as future drivers of economic growth. Cities that can tick all of the boxes in the foregoing list are anticipated to generate superior economic growth and opportunities than those that lag behind.

It remains to be seen how this tension between some urban societies and their respective national governments plays out but it would appear that economic globalization is still very much alive, albeit not always at the national level.

Check out the full report here – http://www.wtcareports.org/files/WTCA_report_final.pdf

©2020 by Centre for Global Enterprise

  • LinkedIn
  • Twitter