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London is a city globally well connected to the rest of the world:
Indeed, it tends to make the exchange of goods and services more difficult with other countries, especially within the European Union.
BRICs have cheaper labour supply
London is less competitive
London is evidently a Global city due to its divers international influences on the rest of the world:
However, this global city also presents several negative aspects:
These headquarters are seen in Canary Wharf: Crédit Suisse, Barclays, HSBC, Citicorp etc.
They contribute, to a large extent, in making London an important city, on economic and financial aspects, however ...
Variety in the ethnicity
Amita: Indian teacher born in the UK:
"London is a great city, it's multicultural and people come form all around the world to live here"
The different ethnic groups tend to live in specific areas of London and are sometimes ostracized:
Life in London is very expensive: people from popular backgrounds cannot afford a living (state agency in Canary Wharf - Average price of a location £1 million).
In the age of globalisation, the economy tends to cluster in a limited number of cities that Saskia Sassen qualifies of ‘global cities’. In her book The Global City Saskia Sassen introduces four big cities that are New York, London and Tokyo and describes them as world cities with major international influences especially on the economic and financial aspect. But the definition of a global city is much more complex and they are also known to run the world's economy through diverse aspects; such as their population, their infrastructures, their global impact on the world scale and more.
In her book The Global City, Saskia Sassen ranks influential cities in different groups from 'Alpha ++ to Gamma' according to their impact on the rest of the world and according to diverse criteria's (Alfa ++: NYC & London, Alfa +: Paris & Hong Kong).