The globalization of markets is at hand. With that, the multinational commercial world nears its end, and so does the multinational corporation … The multinational corporation operates in a number of countries, and adjusts its products and processes in each, at high relative cost. The global corporation operates with resolute constancy … it sells the same things in the same way everywhere.
—Ted Levitt, “The Globalization of Markets,” 1983
A QUARTER OF A CENTURY after Ted Levitt’s bold pronouncements, excitement about the globalization of markets has given way to excitement about the globalization of production.1 But what has remained constant is the vision of a globalization apocalypse, sweeping ...