The Local Becomes Global Becomes Local:
The International Movement of Capital and its Urban
object of this article is to examine fusions of the local with the
global for the intangible movement of capital, and to highlight
some of the processes which bring it about. In the first part of
the article the mediation between space and local place is interpreted
through processes of disembedding, phantasmagoria, and fusion, which
are made possible through transportation and telecommunications
technologies. In the second part of the article the fusion of increased
global flows of capital with local urban scenes are discussed through
aspects of location, specialization, expansion, and homogenization.
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support from the National Science Foundation, under the Urban Research
(C) 1999, 2000, 2001 Taub Urban Research Center, New York University