Blog reading4 “What is the relation between economy and globalization?”- HUANG YIXIAO

1) Summarize

There is a clear consensus that the business corporation - specifically the transnational corporation (TC) - is the central actor: the primary shaper of the global economy. The chapter focuses on five related issues: (1) the scale and geographical distribution of TNCs in the global economy; The most comprehensive definition of a modern TNC, and the one that underpins the discussion in this chapter, is a firm which has the power to coordinate and control operations in more than one country, even if it does not own them'. What they all have in common is that they operate in different political, social and cultural environments.

(2) why and how corporations engage in transnational activities;MARKET-ORIENTED INVESTMENT It may have identified new markets that require a direct presence in order to serve them efficiently: Asset-orientend investment There is no doubt that some types of transnational investment have been - and remain - very sensitive to geographical variations in labour costs. 

(3) the geographical embeddedness of transnational corporations; Contrary to much of the received wisdom on the global economy, place and geography still matter fundamentally in the ways in which firms are produced and in how they behave.

(4) the 'webs of enterprise' manifested in transnational production networks; (5) the power relationships between TNCs and other actors in the global economy.


2) Interesting

I thought this in the third topic written about in the article was quite interesting. Forms of economic coordination and governance cannot easily be transferred from one society to another, for they are embedded in social systems of production distinctive to their particular society .. Economic performance is shaped by the entire social system of production in which firms are embedded and not simply by specific principles of management styles and work practices . .. institutions are embedded in a culture in which their logic is symbolically grounded, organizationally structured, technically and materially constrained, politically defended, and historically shaped by specific rules and norms.

3) Discussion 

Why is it that some countries do not set requirements for transnational corporations, even though they are aware of the potential problems of manipulation of national politics by these corporations?

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