Tokyo: One of the Three Command Centers for the World Economy

Topics: Tokyo, New York City, City Pages: 1 (373 words) Published: September 13, 2012
Tokyo, one of the three "command centers" for the world economy.

For three decades from 1960, Japan experienced rapid economic growth, which was referred to as the Japanese post-war economic miracle. Tokyo is Japan's capital and the world's most populous metropolis. It is also one of Japan's 47 prefectures, consisting of 23 central city wards and multiple cities, towns and villages west of the city center. The prefecture is part of the world's most populous metropolitan area with upwards of 35 million people and the world's largest urban agglomeration economy with a GDP (Gross Domestic Product) of US$1.479 trillion at purchasing power parity in 2008, ahead of New York City metropolitan area, which ranks second on the list. The city hosts 47 of the Fortune Global 500 companies, the highest number of any city. This city is considered an alpha world city, listed by the GaWC's 2008 inventory and ranked fourth among global cities by A.T. Kearney's 2012 Global Cities Index. In 2009, named the third Most Livable city and the world’s most livable Megalopolis by the magazine Monocle. The Michelin Guide has awarded Tokyo by far the most Michelin stars of any city in the world. In 2012, Tokyo was named the most expensive city for expatriates, according to the Mercer and Economist Intelligence Unit cost-of-living surveys. However, the economy of Tokyo, Japan, is based on the world's 3rd largest automobile manufacturing country, has the largest electronics goods industry, and is often ranked among the world's most innovative countries leading several measures of global patent filings. Facing increasing competition from China and South Korea, manufacturing in Japan, today now focuses primarily on high-tech and precision goods, such as optical equipment, hybrid cars, and robotics. And also its touristic places; Tokyo can be appreciated in districts such as Asakusa, and in many excellent museums, historic temples and gardens. Contrary to common perception, Tokyo also offers...
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