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Globalization by Sarah Powell, Pervez Ghauri

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Gaining Global Momentum

The removal of trade barriers and tariffs, plus cheaper transportation costs brought by technological advances in logistics and distribution, has allowed multinationals to flourish. Just as they benefit from globalization in terms of cheaper global sourcing and huge new markets, so the competition between them further drives the globalizing process.

The rise of the multinationals

The growth of modern multinational corporations can be traced back to the 19th century, which saw European colonization of many regions of the world and development of the “New World” (North and South America). This “high age of imperialism,” as it is sometimes called, has been described as the first era of globalization. US corporations subsequently ...

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