Cities in the Pacific Rim: Planning Systems and Property Markets

Cities in the Pacific Rim: Planning Systems and Property Markets

Cities in the Pacific Rim: Planning Systems and Property Markets

Cities in the Pacific Rim: Planning Systems and Property Markets

Synopsis

The cities of the Pacific Rim are in one of the most dynamic spheres of the global economy. They also offer a wide range of different responses to the demands that rapid growth puts on planning and infrastructure. This book considers the interactive relationships between the operation of the planning system and the role and performance of property development and real estate markets in 14 Pacific Rim cities drawn from both Eastern and Western perspectives.

Excerpt

The concept of the global economy is being increasingly projected in literature, media and political circles as a dominant image based on the information revolution, the neutralisation of distance through telematics, and the instant transmission of finance and investment flows around the world. For some cities the simultaneous combination of the global dispersal of economic activities and global integration will lead to a strategic role and their transformation into key locations and marketplaces for the most advanced contemporary industries including finance and specialised services. For other cities, globalisation and the growth of information economies will require a more fundamental understanding of the processes, activities and infrastructure necessary to support urbanisation, economic development and sustainable growth. These impacts of change are particularly profound in the Pacific Rim.

With the Asian urban sector expanding at 50 million people per year, the relationship between wealth production and urban growth in the mega-cities of the Pacific Rim will strengthen, although in many cases there is concern for the environmental, cultural and quality of life implications of the urbanisation process. However, with mega-city economies becoming increasingly dominant at both national and international scales and the qualitative factors emerging as critical to the attraction of investment and development, urban management and the promotion of cities are fundamentally important at the strategic policy level. in this regard, urban policies in Pacific Rim cities must acknowledge that management structures operate most effectively where there is local accountability and local involvement in the provision of infrastructure, the promotion of socio-economic strategies and the generation of financial resources. Whilst the physical nature of urban areas (namely land use, buildings, infrastructure and services) in the Pacific Rim region is relatively well documented in the literature, the economic structures (namely the efficiency of city administration and management, the interactions between

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