This document discusses the concept of the global city and how cities are changing in relation to the global economy. It notes that the rise of information technologies and increased mobility of capital have weakened the role of nations and led to the internationalization of finance and industry. As a result, cities now have more diverse and globally integrated economic activities, and corporate functions are more centralized. Labor has also become more informalized as a survival strategy. The document then outlines seven elements that characterize the global city model, including geographic diversity of economic activities, outsourcing, and the development of transnational urban systems disconnecting cities from local contexts.