World city characteristic
1.The most inherent feature of the world city is its global control function in the world economy. World cities occupy a position between the world economy and the territorial nation-state.
2.Since the institutions linking the world economy with the state are transnational corporations and international finance, world cities contain of the world largest corporations and international banks.
3.The presence of corporate headquarter and global financial institutions presupposes the rapid growth of a highly paid international elite,including a transnational producer service class engaged in the production and export of services across the globe
4.The expansion of producer services leads to the refurbishment of exisiting office space and extensive new construction of both office space and high class residential accommodation.