Globalization, Gentrification and Migration Impact to New York Coursework

Globalization, Gentrification and Migration pertain to New York - Coursework ExampleThere has been an argument as to whether the processes of gentrification, globalization, and migration lead to involuntary displacement of the low-income residents in a urban center. For instance, in New York City, the low-income residents argon not likely to move out of a gentrifying suburb than they are to move out of a non-gentrifying suburb. On the other hand, the process of globalization in New York is explained in terms of the strategic sites where various global processes materialized and the various linkages that join them. Among the above-mentioned sites are the off-shore banking facilities, export impact areas and the global cities (Hamnet 1994, p.422). According to Sassen, the rapid growth of the global economy in New York City has lead to the modern geography of marginality and centrality. The above mentioned modern form of geography causes inequalities, nevertheless, it leads to the f ormation of dynamic economic growth, where the city operates from the development of the employment structures to the distribution of telecommunication. New York as a global city possesses a jackpot of economic powers and various financial services, which offer super-profits. The level of transactions in New York specifically by the trade in services, financial markets and investments have rapidly increased, therefore, the orders of magnitude involved have also increased.