2. Features of the New Global Economy The flow of international finance and business services closely parallels that of world production and trade. This highlights the flow of direct investment between the triad countries – US, EU and Japan. EU based TNC’s are becoming more closely linked to Asia Japan is placing more emphasis on developing countries – particularly SE Asia

3. Spatial Distribution of World Cities What is emerging is a spatial distribution of world cities linking several subsystems, with reduced flows among the economically developed triads themselves: Asiansubsystem -An Asian subsystem centred on a Tokyo-Singapore axis. North-American subsystem -A North-American subsystem based on the three major cities of New York, Chicago and Los Angeles, linked to Toronto in the north and Mexico City in the south. West European subsystem -A West European subsystem focusing on London, Paris and other cities in Europe Southern Hemisphere -The Southern Hemisphere is linked to the system through Sao Paolo, Johannesburg and Sydney

4. Australia’s Network of Large Cities Sydney and Melbourne: dominant players in the geography of corporate organisations with Perth, Adelaide and Brisbane operating at an intrastate level. Major corporations: -Dominate national economy through their control of advanced technologies, major growth sectors, R & D, access to capital and government -Exert control over smaller firms through price agreements, licensing, franchising etc Sydney: principal centre for smaller businesses and financial centre, trading, finance companies etc. Melbourne: principal centre for mining and manufacturing companies

5. Global Centres National Metropolises Regional Centres Global Hierarchy of Cities Briefly describe each one