Asian anchors
A city is a human settlement with a large population. While cities have been a feature of human civilisations for many centuries, they have only become the predominant way of life as a result of industrialisation, with rapid urbanisation meaning that more than half the world’s population now lives in cities.
Redefining global cities: The seven types of global metro economies, published by the Global Cities Initiative in 2016, categorised the distinct competitive positions of the world’s largest metro economies. It defines Asian anchors as: ‘Large, business and financial nodes anchoring inward investment into the Asia- Pacific and Russia.’
Asian anchors are in fast growing areas of the world and are similar to global giants, but less wealthy and less globally connected and have lower productivity. Global giants are: ‘Large, wealthy hubs with concentrations of corporate headquarters; they serve as the command and control centers for the world’s largest advanced economies.’
Asian anchors have reasonably good connectivity, relatively skilled workforces and are comparatively innovative compared to the regions they are it. They attract significant foreign direct investment, offering gateways for the global investment community
The six Asian anchors are:
- Beijing.
- Hong Kong.
- Seoul.
- Shanghai.
- Singapore.
- Moscow.
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