Reading 4: What is the relationship between economy and globalization? (Hyoseung Chae)

Economic Globalization : Corporations

2020055223 Hyoseung Chae

1. Summary

There is a territorial asymmetry between the country's continuous territory and the TNC's discontinuous territory, which, contrary to many conventional wisdom, translates into a complex negotiating process with no clear and completely predictable results. As some writers continue to argue, TNC does not always have the power to go its own way. In the complex relationship between the TNC and the state and other agencies, the consequences of certain negotiation processes are highly contingent. State intelligence still has significant authority over the TNC, including controlling access to its territory and defining operational rules. In cooperation with other countries, that power increases. So the argument that countries are universally powerless in the face of the unstoppable enormous power of "global companies" is nonsense.

2. Interesting Point

In particular, American and British companies have preferred to merge with certain overseas regions. Most have been driven by mergers and acquisitions, not greenfield investments. Indeed, this has been the case in recent years, especially in the late 1990s, when there have been large cross-border mergers, such as the acquisition of U.S. AirTouch Communications, Daimler-Bantz's acquisition of Chrysler, and Wal-Mart's Asta. In fact, it is important that the slowdown in FDI growth since the 2000s has coincided with a massive decline in M&A activities, and M&A includes the transfer of shares between companies. In other words, it was interesting to see that the transition of ownership and control of the entire assets of the two companies was included.

3. Discussion Point

In the book, the geographical imbalance of the market is one of the main reasons why companies participate in transnational investments. The second reason stems from the fact that the assets required by companies to produce and sell products and services are distributed so evenly that they may have to be utilized in the field. Of course, it is explained that it was the geographical localization of many natural resources that traditionally led to the early development of TNC, and I would like to talk about what cases I think are reflected in this regard, other than the contents of the book.

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