GLOBAL CITIES AS CENTRES OF GLOBAL ECONOMIC MANAGEMENT AND INTERNATIONAL INFORMATION COMMUNICATIONS

Abstract

Global cities arebecoming increasingly important players in the global system. They bring together different cultures, ideas and business opportunities. Understanding their role and functions in global economic governance and international information exchange is key to developing strategies for economic growth, creating favourable conditions for doing business and increasing the competitiveness of countries.The study of this problem has been based on the consideration of various aspects, such as economic activity, transnational governance, information communications, technological development and political participation, which determine the role of global cities. Using methods of comparative analysis, sociological, geographical research and other approaches, the article offers a deeper understanding of the functions of global cities and their impact on the world economy and international information communications.The functional significance of global cities as centres of global economic governance is determined mainly by the scale of their gross regional product, huge economic potential, as well as management and control of the global economy, which is due to the level of concentration of headquarters of large multinational companies, key institutions of the international financial market, mainly transnational banks, advanced business services companies, etc.Global cities are the backbone of the global economic and political system, leading global financial and economic processes, managing global financial flows, and having developed infrastructure and access to a wide range of services. Multinational enterprises actively use the advantages of the transport, political, social and economic position of global cities. In turn, these enterprises have a significant impact on global economic and political processes, contributing to the globalisation of city functions.Since the functional significance of global cities is expressed in many aspects, based on the analysis of available data, reports and studies, they are systematised into two groups: centres of global economic management and centres of international information communications. The characteristic of global cities according to these groups is due to the constant development and expansion of strong ties between countries and the destruction of existing barriers through technological communications and networking.