Since the 1980s, more complicatedly interwoven forces of globalized ca
pital, central and local states, and growth-oriented local actors have
produced not a single form but variations of global city formation. I
n the reconstruction process of postindustrial cities, the concept of
globalization does not necessarily provide a dominating and self-suffi
cient story, but actually acts as a symbolic catalyst which stimulates
them to establish a new urban regime on the basis of more exclusive p
olitical powers. This article investigates why Tokyo, though lacking i
n consensus about such a change, once succeeded and then failed in est
ablishing a political,coalition for urban restructuring. For newly-eme
rgent global cities such as Tokyo, 'globalization' had two different l
ocal impacts on urban restructuring: a substantial one derived from th
e economic interests of globalized capital; and a symbolic one manipul
ated by local dominating political actors. Globalization as a politica
l symbol took on an ideological role by both masking pre-modem traits
behind the coalition and giving postmodern appearances to it. But, con
currently with this, as a social cleavage has developed from an influx
of foreign workers, the meaning of globalization has shifted to a mor
e conflicting one.