U.S. metropolitan areas drive national output. The largest 100 regions generate three-quarters of our GDP, supporting 90% of advanced industrial jobs and producing the ideas behind 92% of patents.
The Chicago Council on Global Affairs launched a report earlier this year, On Global Cities, which underscored that global cities around the world are the hubs in the network of global commerce.
The most rapid urbanization is happening in low- and middle-income countries. Africa is expected to increase its urban population from 40% to 56% by 2050. Asia will expand from 48% to 64% of its population living in cities by 2050.
India, China and Nigeria together contribute to one-third of projected growth of the world’s urban population, adding 404 million, 292 million and 212 million respectively.
A deeper understanding of what goods, services and ideas are produced in U.S. cities and how they are traded globally with other cities will provide a critical foundation for future trade policies, which should be designed to help U.S. cities compete in the global economy.