There is a substantive analysis in this article showing the key role of the developmentalist state in Japan and South Korea. I agree with this. But Hill and Kim (2000) position this issue in a manner that would lead one to infer that I do not. In much of my work, especially on the global city, I have focused in enormous detail on how Japan is different from the US and have emphasised the importance of capturing this speci city rather than falling in the trap of conventional comparative social science and its need to standardise across countries. Hill and Kim have chosen to overlook this. Perhaps this results from the fact that the authors never seem to go past p. 10 in their referencing of The Global City. Not a single reference in the 19 times they cite something from my work goes past p. 10 in that book—indeed, a third of all these references never go past p. 5. Admittedly, the almost 400 pages that follow are very tedious—all that detailed differentiation of the three cities and their institutional and historical settings, all that unpacking of data-sets and of specialised literatures, who needs it! The framing of an argument matters. Hill and Kim set up their critique in a manner that derails the possibility for a substantive debate: whether the modes through which a leading international business and nancial centre such as Tokyo or Seoul articulates with the global economic system are shaped in signi cant ways by the presence of a developmental state to the point that these cities cannot be thought of as global cities. I think this is an interesting question. But this is not what the authors want to discuss. They simply assert that the developmentalist state and the global city are two mutually exclusive categories and that hence, insofar as Japan and South Korea have a developmentalist state, the global city model is not applicable to Tokyo and Seoul. This framing also allows for a particular distortion which is to produce the impression that the global city model is incompatible with a critical analysis of the power of global nance. This then leads them to assert, among other somewhat surprising statements, that I have writen a “breathless paean to global high nance” (note 3). Admittedly, I have been and remain impressed with the power of global nance to destroy signi cant sectors of national economies, distort other markets and subvert state policy. I rather thought that, if anything, this was a breathless paean against global nance and, apparently, so have the hundreds of commentaries and critiques I have received from all quarters on my treatment of global nance. In