Trace the history of global integration.

JHONNA MAE M. GANZALE
BSCRIM1 BLOCK A

Trace the history of global Market integration
- GLOBAL MARKET INTEGRATION DID NOT
HAPPEN OVERNIGHT. IT WAS THE RESULT OF THE ESTABLISHMENT OF A GLOBAL ECONOMY THAT INVOLVED THE
HOMOGENIZATION OF TRADE AND
COMMERCE. PRIOR TO THE TRENDS IN
GLOBALIZATION OF THE 20TH CENTURY,
INTERNATIONAL TRADE AND EXCHANGE OF GOODS AND SERVICES WERE ALREADY PRACTICED. HARVEY (1990) SEES THAT CITY AND COUNTRIES WERE ABLE TO EXTEND THEIR REACH BEYOND BORDERS AND PATTERNS OF TRADE AND TECHNOLOGY BECAUSE OF DEVELOPMENTS IN SHIPPING AND NAVIGATION.

THIS WAS OBSERVABLE IN THE DEVELOPMENT OF MARITIME TRANSPORT THROUGHOUT HISTORY. COLONIALISM AND IMPERIALISM ROSE AS THE NEW WAYS OF PUTTING ORDER TO THE ECONOMIC INTERRELATIONSHIPS AMONG COUNTRIES. EQUITY, CORPORATE OWNERSHIP, MANAGEMENT SUBSIDIARIES, AND CENTRAL HEADQUARTERS WHICH SUPPLY AND DISTRIBUTE GOODS AND SERVICES WERE ESTABLISHED THROUGH COLONIALISM. THE SPANISH GOVERNMENT IN THE 1960S, FOR INSTANCE MADE USE OF ITS COLONIES LIKE THE PHILIPPINES AND MEXICO AS SUPPLIERS OF IT RESOURCE FOR TRADE.
THE INTEGRATION OF THE GLOBAL
MARKET STARTED WHEN BIG AMERICAN CORPORATIONS BEGAN TO EMERGE AFTER THE SECOND WORLD WAR WITH THE RISE OF NEW CONGLOMERATES. INTERNATIONAL TELEPHONE AND TELEGRAPH BOUGHT AVIS RENT-A-CAR, CONTINENTAL BANKING, SHERATON HOTELS, AND HARTFORD FIRE INSURANCE (AMERICAN HISTORY, 2018). LATER, JAPAN AND EUROPE FOLLOWED SUIT. JAPANESE GLOBA AUTOMOBILE CORPORATIONS LIKE TOYOTA, NISSAN, AND ISUZU TOOK OFF AFTER THE GIANT AMERICAN COMPANIES FLOURISHED.
THESE COMPANIES PROSPERED AS THE
PRIMARY AND GLOBAL MAKERS OF TRUCKS FOR JAPANESE MILITARY (DOWER, 1992). RENAULT AUTOMOBILES, A FRENCH MULTINATIONAL AUTOMOBILE MANUFACTURER, WAS ALSO USED TO HELP
IN THE MILITARY POSTWAR OPERATIONS.
THE RISE OF AMERICAN, JAPANESE, AND
EUROPEAN GLOBAL CORPORATIONS PAVED THE WAY FOR THE FURTHER DEVELOPMENT OF INTERNATIONAL TRADE. IWAN (2012) IDENTIFIES THE DIFFERENCES AMONG INTERNATIONAL, MULTINATIONAL, TRANSNATIONAL, AND GLOBAL COMPANIES. INTERNATIONAL COMPANIES ARE IMPORTERS AND EXPORTERS WITH NO INVESTMENTS OUTSIDE THEIR HOME COUNTRIES. MULTINATIONAL COMPANIES (MNCS)
HAVE INVESTMENTS IN OTHER COUNTRIES, BUT DO NOT HAVE COORDINATED PRODUCT OFFERING IN EACH COUNTRY. THEY ARE MORE FOCUSED ON ADAPTING THEIR PRODUCTS AND SERVICES TO EACH INDIVIDUAL LOCAL MARKET.

- GLOBAL COMPANIES HAVE INVESTMENTS
AND ARE PRESENT IN MANY COUNTRIES. THEY TYPICALLY MARKET THEIR PRODUCTS AND SERVICES TO EACH INDIVIDUAL LOCAL MARKET.

- TRANSNATIONAL COMPANIES (TNCS) ARE MORE COMPLEX ORGANIZATIONS THAT HAVE INVESTMENTS IN FOREIGN OPERATIONS, HAVE A CENTRAL CORPORATE FACILITY BUT GIVE DECISION-MAKING, ESEARCH AND DEVELOPMENT, AND MARKETING POWERS TO EACH INDIVIDUAL
FOREIGN MARKET.

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