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Globalization - BROADER, MORE RECENT CHANGES

Globalization has expanded and accelerated in more recent decades. While major corporations originated in the 18th-19th centuries in countries like Germany, Britain, and the US, operating primarily within their home nations, the 20th century saw these companies export more abroad through factories in other countries and products tailored to local needs. This represented the rise of multinational corporations and a major opening of the world to global flows of trade, immigration, media, and capitalistic transactions, though some nations also erected barriers to limit these flows at times.

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Chilton John Duat
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877 views2 pages

Globalization - BROADER, MORE RECENT CHANGES

Globalization has expanded and accelerated in more recent decades. While major corporations originated in the 18th-19th centuries in countries like Germany, Britain, and the US, operating primarily within their home nations, the 20th century saw these companies export more abroad through factories in other countries and products tailored to local needs. This represented the rise of multinational corporations and a major opening of the world to global flows of trade, immigration, media, and capitalistic transactions, though some nations also erected barriers to limit these flows at times.

Uploaded by

Chilton John Duat
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Globalization – BROADER, MORE RECENT CHANGES

The US not only projected its military power throughout the world (Korea in the early 1950s;
disastrously in Vietnam in the 1960s and early 1970s), it extended its reach in the economic realm as it
became the dominant industrial power when the war decimated most of its competitors militarily
(Germany, Japan) and/or economically (the Axis powers as well as Allies such as France and Great
Britain).

While the world’s great corporations can be traced back to the eighteenth and early nineteenth
centuries in, for example, Germany, Great Britain, and the United States, they were initially largely
associated with their nations of origin and did the vast majority of their business within those countries
(Bonanno and Antonio 2012).

For example, the once-great American automobile companies – Ford and General Motors – not only
originated in the US, but focused, at least initially, on selling into the American market and most, if not
all, of the component parts were produced by them or sub-contractors in the US.

However, that began to change over the course of the twentieth century as these corporations exported
more of their automobiles to other parts of the world, opened factories in other countries to sell cars
under their brand names (or others), targeted their products to the distinctive needs (e.g. for smaller,
more fuel-efficient cars) of those countries, and more recently began to move more and more of their
automobile production aimed at the US market to other countries, either in factories of their own or in
the factories of sub-contractors in those countries.

Indeed, MNCs are not only involved in globalization but this process is internalized into the organization
as all sorts of global flows (parts, people, money) occur within the corporation.

This clearly represented the formation of a MNC, although Daimler-Benz itself (as well as Chrysler) was a
multinational corporation before that since, among other things, it actively sold its automobiles in the
US as well as in many other parts of the world.

Major parts of the world were opened for the first time since the early twentieth century to all sorts of
global flows – immigration, tourism, media, diplomacy, and especially the capitalistic economic
transactions of MNCs and other businesses.
However, the embargo itself is a manifestation of globalization – the US setting up barriers in order to
limit or halt the flow of trade with Cuba and to inhibit or prevent other nations from around the world
from trading with Cuba.

While all of the other perspectives deal with global processes, they were far more limited in geographic
scope and far less extensive and intensive than the global processes that took off in the late twentieth
century.

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