How are global cities ranked1/21/2024 The United States loses an estimated $70 billion in tax revenue each year because companies operating in the country conceal their assets in offshore tax havens Privacy: Bank secrecy laws can help individuals and businesses EV disclosure in their home countries. Provide 2 important functions Taxes: taxes on income profits and capital games are typically low or nonexistent companies Incorporated in an offshore center also have tax free status regardless of the nationality of the owners. Small countries usually islands and Microstates exploit niches in the circulation of global capital by offering offshore financial services. Also clustered in global cities our offices for groups having business with the government such as representatives of foreign countries trade associations labor unions and professional organizations. national capitals and they contain mansions or palaces for the head of state imposing structures for the national legislature and courts and offices for the government agencies. Global cities maybe centers of national or international political power. Leisure services of national significance are specially likely to clustering global cities in part because they require large thresholds and large ranges and in part because of the presence of wealthy patrons. London presents more plays than the rest of the United Kingdom combined and New York nearly has more theaters and the rest of the United States combined. They contain the largest libraries museums in theaters. They typically offer plays concerts operas night clubs restaurants bars and professional sporting events. Global cities usually offer the most public services.
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