It is problematic to think of globalization as a new phenomenon and to believe that the phenomenon of a world city, embedded in the global division of labor, is a 20th century novelty. World city literature in sociology often emphasizes, if not assumes, the relatively recent emergence of world cities in the “new” international division of labor. Sixteenth century Antwerp, however, was the first world city of an expanding capitalist world economy. Understanding this phenomenon and its decline can raise important questions about the modus operandi of subsequent world cities.