A critical examination of the economic governance mechanisms in the London region and its capacity to achieve sustainable economic development within a depressed global economy.

This essay will attempt to examine and analyse the economic governance mechanism operating within the London Region and evaluate and explore the impact that a depressed global economy has had on the London regions capacity to (i) achieve sustainable economic development and (ii) achieve competitive economic development. This will be achieved by focusing on the impact of (i) global (ii) European and (iii) the London regions economic governance mechanisms and their impact on London’s capacity to achieve sustainable and competitive economic development.
The economic governance mechanism used in London is complex and multi-faceted. Economic development of the London region is driven by many contributors mainly the thirty three boroughs which make up the geographical landscape, Greater London Authority,

Background
London is the capital city of the United Kingdom and is made up of thirty three boroughs. The spatial structure of London is the city of London which is a square mile in the centre of the area and Greater London are the surrounding areas.
London is unique as it houses the main seat of government and is: the most populated urban region
Six London boroughs: Hackney, Newham, Tower Hamlets, Islington, Waltham Forest and Barking and Dagenham are in the top ten most deprived Boroughs in England.
The green economy such as solar power and wind power is one of the fastest growing sectors with in London despite the economic downturn with 9000 businesses offering employment to 160000 in a sector worth 23-27 billion pounds
London is responsible for 24% of the total value of the United Kingdom’s exports
At the 2011 censors London population was 8.17 million making it the most