Globalization and the global city: Meeting the challenges of the twenty-first century

This article considers the impact of globalization on the development of a nation-state's economic competitiveness in the twenty-first century. It argues that cities must enhance their governing capacity, i.e., adjust their economic bases, administrative structures and business cultures to suit the needs of transnational corporations. Using South Korea as a case study, the article makes a case for further democratization of political power and decentralization of economic power. The article also suggests a set of strategies for cities to be viable in the globalizing world economy.