The World Economy’s Urban Future
Today’s major cities are often islands of stability and good governance in oceans of uncertainty, partly because they are better able to adapt to changing realities than entire countries. In this sense, they can serve as role models, if not vanguards, for the new political-economic models the world needs.
SINGAPORE – Since the global financial crisis began a decade ago, the major countries of North America, Europe, and East Asia – which together represent the vast majority of the world’s economy – have been searching for sustainable political-economic models that can weather the considerable challenges they face. They have largely failed to find them.