Showing papers on "Globalization published in 1999"

The Third Way: The Renewal of Social Democracy

Abstract: Preface. 1. Socialism and After. The death of socialism. Old--style social democracy. The neoliberal outlook. The doctrines compared. The recent debates. Structures of political support. The fate of social democracy. 2. Five Dilemmas. . Globalisation. Individualism. Left and right. Political agency. Ecological issues. Third way politics. 3. State and Civil Society. Democratising democracy. The question of civil society. Crime and community. The democratic family. 4. The Social Investment State. . The meaning of equality. Inclusion and exclusion. A society of positive welfare. Social investment strategies. 5. Into the Global Age. The cosmopolitan nation. Cultural pluralism. Cosmopolitan democracy. The European Union. Market fundamentalism on a world scale. Conclusion. . Notes. Index.

Global Transformations: Politics, Economics, and Culture

Abstract: Undoubtedly one of the highlights of the 1999 Conference was the plenary session in which Professors David Held and Mahdi Elmandjra came together to discuss the theme of ‘“Globalization”: Democracy and Diversity’. The Conference also witnessed the launch of Global Transformations (Polity Press, 1999), at which David Held was joined by two of his three coauthors, Professor Anthony McGrew and Dr Jonathan Perraton. Global Transformations is the product of almost a decade’s work by a research team (based at the Open University and supported by the ESRC) who have produced what James. N. Rosenau has called ‘the definitive work on globalization’. It is a study which not only synthesises an extraordinary amount of information from research on globalization in a range of social science disciplines, but also makes its own distinctive contribution to our understanding of the complex range of forces which are reshaping the world order. We are delighted to be able to reproduce here an ‘executive summary’ of Global Transformations that summarises the major findings of this 500-page survey in just six thousand words.

Runaway World: How Globalisation Is Reshaping Our Lives

Abstract: 'This little book is full of insights about who we are and where we are going.' - Financial Times The most accessible book yet by one of the most influential thinkers of our time, Runaway World evaluates the ever-increasing impact of globalization today. Extending his arguments beyond the merely economic, Giddens shows how our growing interdependence directly affects our everyday lives. Neither a cheerleading endorsement of emerging markets, nor a fearful rant on the growth of terrorism or loss of American jobs, this is a book about a world that grows smaller every day, and how those changes are affecting our culture, our traditions, our families, and our politics. Identifying globalization as a true cultural force, this eloquent and important volume is the starting point for anyone concerned about our increasingly interconnected world.

The Lexus and the Olive Tree

Abstract: A powerful and accessible account of globalization - the new world order that has replaced the cold war - by the award-winning author of From Beirut to Jerusalem. More than anything else, globalization is shaping world affairs today. We cannot interpret the day's news, or know where to invest our money, unless we understand this new system - the defining force in international relations and domestic policies worldwide. The unprecedented integration of finance, markets, nation states and technology is driving change accross the globe at an ever-increasing speed. And while much of the world is intent on building a better Lexus, on streamlining their societies and economies for the global marketplace, many people feel their traditional identities threatened and are reverting to elemental struggles over who owns which olive tree, which strip of land. Thomas Friedman has a unique vantage point on this worldwide phenomenon. The New York Times foreign affairs columnist has travelled the globe, interviewing everyone from Brazilian peasants to new entrepreneurs in Indonesia, to Islamic students, to the financial wizards on Wall Street and in Silicon Valley, to find out what globalization means for them, and for all of us. This ground-breaking book is essential reading for anyone who wants to know how the world really works today.

Divergent Capitalisms: The Social Structuring and Change of Business Systems

Abstract: PART I: INTRODUCTION 1. Varieties of Capitalism PART II: THE COMPARATIVE BUSINESS SYSTEMS FRAMEWORK 2. The Nature of Business Systems and their Institutional Structuring 3. The Social Structuring of Firms' Governance Systems and Organizational Capabilities 4. The Social Structuring of Work Systems 5. Globalization and Business Systems PART III: THE DEVELOPMENT AND CHANGE OF BUSINESS SYSTEMS IN EAST ASIA AND EASTERN EUROPE 6. Divergent Capitalisms in East Asia: The Development of the Post-War Business Systems of South Korea and Taiwan 7. Continuity and Change in East Asian Capitalisms 8. Path Dependence and Emergent Capitalisms in Eastern Europe: Hungary and Slovenia Compared 9. Enterprise Change and Continuity in a Transforming Society: The Case of Hungary

Globalization and Culture

Abstract: 1. Globalization and Culture. . Globalization as Complex Connectivity. Culture as a Dimension of Globalization. Why Culture Matters for Globalization. Why Globalization Matters for Culture. 2. Global Modernity. . Global Modernity as Historical Period. Globalization as a a Consequence of Modernitya . Suspicion of Global Modernity. Conclusion. 3. Global Culture: Dreams, Nightmares and Scepticism. Dreams: Historical Imaginings of a Global Culture. Nightmares: Global Culture as Cultural Imperialism. Global Culture: The Sceptical Viewpoint. 4. Deterritorialization: The Cultural Condition of Globalization. . The Concept of Deterritorialization. The Mundane Experience of Deterritorialization. Objections to Deterritorialization. Deterritorialization at the a Marginsa . Hybridization. 5. Mediated Communication and Cultural Experience. . Mediation and Connectivity. Mediated Proximity 1: Intimacy Redefined. Mediated Proximity 2: Televisual Involvement and the Closing of Moral Distance. 6. The Possibility of Cosmopolitanism. Cosmopolitanism: Idea, Ideology, Ideal. Cosmopolitans Without a Cosmopolis. Notes. Bibliography. Index.

The Lexus and the Olive Tree: Understanding Globalization

Abstract: As the foreign affairs correspondent for the New York Times and a frequent participant on PBS’s Washington Week in Review, I have gained a respect for the ability of Thomas Friedman to synthesize complex international phenomena into cogent insights. This is what he does in his latest book, in a direct and clear communication style. After all, it is a book for laymen that attempts to show that globalization has replaced the cold war as the defining force shaping the world as we know it. Furthermore, he attempts to simplify the dynamics of economic and geopolitical events/causes into an understandable scheme with relatively simple rules. In fact, he argues that nations that follow the rules will prosper, and those that do not will be relegated to the backwaters of development. In a sense, Friedman provides hope for the possible inclusion of developing nations in world prosperity. However, the graveyard of failed economies at the hands of human greed, inept leadership, and fickle financial markets is equally apparent. In a macromarketing sense, this is a book about economic development and the role of markets, albeit financial markets, in driving development. Friedman’s thesis is neither new nor supported with academic rigor. For decades, economists, political scientists, and business scholars have been studying globalization, especially over the past ten years. Both the weakness and the strength of this work are that it comes from the author’s experience and observation on assignment. The weakness is that the evidence is all anecdotal. Friedman is limited by his travels and interviews. The strength is that he makes his points with cases that come from a vast set of interviews and firsthand experiences. He weaves his argument with a compelling logic and flow, adding stories to lend credence and entertain. The book, at base, is a distillation of his understanding of the world in which he finds himself, one with a dynamic new order. It is worth reading this book for that distillation and for his insights as to the gyro at the core of this new order. Friedman argues that the fall of the iron curtain was a function of the “democratization of technology, finance, and information.” By this he means the rapidly expanding number of people with access to technology, financial markets, and information through computers, modems, cellular phones, cable, Internet, and so on. Advances in digitization, compression, miniaturization, computation, and communication empowered an increasing number of players not only to participate in a growing array of financial instruments but also to do so with increased information and speed. He ignores the consequences of both cold war military costs and the flaws of communism in his zeal to lay the transformation at the hands of technology, but he is convincing in showing how top-down hierarchical organizational structure crumbled in the face of the “three democracies.” This phenomenon hit hard not only the communist world but also the First and Third Worlds, causing deregulation. The author asserts that free-market capitalism remains the only viable alternative. He sees the “three democracies” not only as the cause of geopolitical changes ten years ago but also as the drivers of the new rules for economic development. Friedman calls his rules the “Golden Straitjacket,” by which he means that a country will develop (accrue gold) in proportion to the degree that it follows the rules (places its people and institutions within the straitjacket). As an aside, he points out that the tighter the jacket, the less sovereignty a country has. What is the straitjacket? It is what economists have called outward-looking development strategies. Friedman lists government policies of free markets, low inflation, balanced budgets, decreased import barriers, encouragement of trade and foreign investment, deregulation, privatization, currency convertibility, open communications and banking, rule of law, and freedom of the press. None of these rules are news. Some hearken back to Adam Smith, and all have been recognized as important to development, especially by macromarketers in assessing the conditions for marketing to aid the development/transition process. What is interesting is the way Friedman weaves together the elements of the straitjacket, the three democracies (technology, finance, and information), and human behavior to create not only an explanation of current trends but also a path from which deviation is automatically punished and to which adherence is automatically rewarded. His argument is as follows. Technology has opened communications in real time to most areas of the world and made possible a myriad of financial instruments. Corporations and traders alike can both obtain timely information on investment climate almost anywhere and execute financial investment and withdrawal with great speed. Of course, speed depends on the kind of investment, from foreign direct investment to speculative market instruments. The widening array of corporate and private players in the global market has shifted power from the sovereign state to market players. They invest where they believe they can best profit, which is a function of return and risk. Countries that put on the straitjacket tightly reduce risk and therefore attract investment. Those that refuse or loosen the straitjacket will lose investment or not attract it in the first

Globalisation as Reterritorialisation: The Re-scaling of Urban Governance in the European Union

Abstract: Summary. In the rapidly growing literatures on globalisation, many authors have emphasised the apparent disembedding of social relations from their local-territorial pre-conditions. However, such arguments neglect the relatively ® xed and immobile forms of territorial organisation upon which the current round of globalisation is premised, such as urban-regional agglomerations and territorial states. This article argues that processes of reterritorialisation‐ the recon® guration and re-scaling of forms of territorial organisation such as cities and states‐ constitute an intrinsic moment of the current round of globalisation. Globalisation is conceived here as a reterritorialisation of both socioeconomic and political-institutional spaces that unfolds simultaneously upon multiple, superimposed geographical scales. The territorial organisation of contemporary urban spaces and state institutions must be viewed at once as a

Globalization and History: The Evolution of a Nineteenth-Century Atlantic Economy

Abstract: Globalization is not a new phenomenon, nor is it irreversible. In Gobalization and History, Kevin O'Rourke and Jeffrey Williamson present a coherent picture of trade, migration, and international capital flows in the Atlantic economy in the century prior to 1914--the first great globalization boom, which anticipated the experience of the last fifty years.The authors estimate the extent of globalization and its impact on the participating countries, and discuss the political reactions that it provoked. The book's originality lies in its application of the tools of open-economy economics to this critical historical period--differentiating it from most previous work, which has been based on closed-economy or single-sector models. The authors also keep a close eye on globalization debates of the 1990s, using history to inform the present and vice versa.The book brings together research conducted by the authors over the past decade--work that has profoundly influenced how economic history is now written and that has found audiences in economics and history, as well as in the popular press.

Beyond state-centrism? Space, territoriality, and geographical scale in globalization studies

Abstract: Since the early 1970s, debates have raged throughout the social sciences concerning the process of ‘‘globalization’’ ^ an essentially contested term whose meaning is as much a source of controversy today as it was over two decades ago, when systematic research ¢rst began on the topic. Contemporary globalization research encompasses an immensely broad range of themes, from the new international division of labor, changing forms of industrial organization, and processes of urbanregional restructuring to transformations in the nature of state power, civil society, citizenship, democracy, public spheres, nationalism, politico-cultural identities, localities, and architectural forms, among many others. 2 Yet despite this proliferation of globalization research, little theoretical consensus has been established in the social sciences concerning the interpretation of even the most rudimentary elements of the globalization process ^ e.g., its historical periodization, its causal determinants, and its socio-political implications. 3 Nevertheless, within this whirlwind of opposing perspectives, a remarkably broad range of studies of globalization have devoted detailed attention to the problematic of space, its social production, and its historical transformation. Major strands of contemporary globalization research have been permeated by geographical concepts ^ e.g., ‘‘space-time compression,’’ ‘‘space of £ows,’’ ‘‘space of places,’’ ‘‘deterritorialization,’’ ‘‘glocalization,’’ the ‘‘global-local nexus,’’ ‘‘supra

Globalization and Culture

Abstract: es. So today you can buy sushi in either France or Germany. This makes France and Germany more alike, yet in my view this is closer to being an increase in diversity than a decline in diversity. If we think of societies that have very well developed markets—for example the United States—what we find happening is not that everyone, for instance, buys or listens to the same kind of music. As markets have allowed suppliers to deliver products to consumers, we’ve seen a blossoming of different genres of music. In the 20th century the United States evolved rock and roll, rhythm and blues, Motown, Cajun

Citizenship and Identity

Abstract: Citizenship and Identity provides an introduction to key debates in sociology and social and political theory on postmodernization and globalization through a critical examination of the often contested concepts of citizenship and identity. The detailed introductory discussion of the relation between the civil and the political, between recognition and redistribution, gives a comprehensive vocabulary for understanding recent and on-going debates. Using the work of T.H.Marshall to frame the discussion of how diasporic, technological, ecological, cosmopolitan, sexual and cultural rights expand the definition of citizenship, the book shows how, in turn, civil, political and social rights have been transformed by postmodernization and globalization. Lucid and comprehensive, Citizenship and Identity will be essential reading for students and researchers in sociology, social and political theory and cultural studies.

Specifying globalization effects on national policy: a focus on the mechanisms

Abstract: This paper attempts to clarify the concept of globalization and to specify how globalization affects national education systems. It argues that though globalization represents a qualitative change in the nature of national- supranational relations, this does not necessarily imply greater homogeneity of policy or practice in education. The paper's particular focus is the mechanisms through which the external effects on national education systems are carried and delivered. It argues that it is especially important to specify those effects, since they have an independent influence on the ‘messages’ they carry. The main part of the paper is devoted to an elaboration and systematic comparison of eight mechanisms of external effects and the organizations associated with them: borrowing, learning, teaching, harmonization, dissemination, standardization, installing interdependence and imposition.

Cities and Competitiveness

Abstract: Improved competitiveness, as we all know, is the path to economic nirvana. Plainly, it is a sought-after property of any economy: the term is frequently used by politicians and commentators on economic and business matters. As cities increasingly engage in competition with one another at different levels, the determinants of competitive advantage are coming under intense scrutiny. Many an economic development strategyÐ whether at national, regional or urban levelÐ starts from the premise that `something can be done’ to make an economy more competitive. There is a high-powered Competitiveness Advisory Group which reports to the European Commission (Jacquemin and Pench, 1997); the US has a special commission for competitiveness and the UK government produced a succession of White Papers on the subject in the 1990s. In the latest, the new Labour government highlights the need for the `right local environment for business success’ (Department of Trade and Industry, 1998). The OECD (1996, 1997a, 1997b) too has published a series of reports on the subject, looking particularly at new industries. But there is precious little agreement either on what the term `competitiveness’ means or on how policy should aim to enhance it. Yet most people have an instinctive understanding that some economies function better than others and that there are systematic reasons for this. We know one when we see one, but it is dif® cult to de® ne an elephant. It tends to be taken for granted that some cities have lost their competitive edge, although it is less obvious what variables demonstrate this. In many parts of the world, major cities that were the powerhouses of their respective economies have lost ground substantially. The decline of traditional manufacturing or mining lies behind the relative decline of many of the `rustbelt’ cities of the North and East of the US or the old industrial cities of northern Europe. The poor economic performance and growing social problems of many British cities, especially over the past three decades, have prompted searching questions about their competitiveness and whether or not they specialise in the `right’ sorts of activities. It can also be argued that globalisation, advances in information technology and farreaching structural change have altered the terms of competition between cities (JensenButler et al., 1997). Jockeying for position between the large ® nancial centres such as London, New York and Tokyo has been recognised for some time (Sassen, 1991; Frost and Spence, 1993). European integration impels cities to be more alert to the

Global Sport: Identities, Societies, Civilizations

Abstract: Preface. Introduction: Sports, Local Cultures and Global Processes. Part I: Conceptual and Theoretical Issues:. 1. Theorizing Sport in the Global Process. 2. Globalisation, Process Sociology and Cross-Cultural-Civilisation Analysis. 3. Globalisation, Civilising Offensives and Sportization Processes. 4. The Global Sports Formation: Meaning, Power and Control. Part II: The Globalisation of Sport and its Consequences. 5. Global Trails, Migrant Labour and Elite Sport Cultures. 6. The Sports Industry, Global Commodity Chains and Sustainable Sport. 7. The Global Media-Sport Complex. 8. Global Sport, Identity Politics and Patriot Games. Conclusion: Diminishing Contrasts, Increasing Varieties - Towards a Global Sports Culture or the Globalisation of Sports?. Bibliography. Index.

Regions and the World Economy: The Coming Shape of Global Production, Competition, and Political Order

Abstract: One of the dramatic shifts that is occurring in the world system as we enter the twenty-first century is the increasing openness and interpenetration of national economies and sovereign states. This shift is associated on the one hand with the beginnings of a progressive transfer of certain economic and political functions upward to the plurinational and global levels; and on the other hand with a countervailing trend to the reinforcement of economic and political life at the subnational, regional level. This book is a wide-ranging exploration of the economic logic and political meaning of these developments, with special reference to a reconceptualization of the economic geography of the modern world as an emerging global mosaic of regional systems of production and exchange. The steady globalization of economic activity over the last few decades has intensified the re-assertion of the region as a critical locus of economic order and as a potent foundation of competitive advantage. As a corollary, many regions in the modern world are also beginning to acquire an intense self-consciousness of themselves as socio-political and economic entities, and all the more so as they increasingly find themselves bound together in both competitive and collaborative relationships across national borders. The significance of these tendencies for new kinds of political mobilization is explored, and their potential impacts of substantive forms of democracy and citizenship in the new world order are assessed.

Globalization of financial institutions: evidence from cross-border banking performance

Abstract: We address the causes, consequences, and implications of the cross-border consolidation of financial institutions by reviewing several hundred studies, providing comparative international data, and estimating cross-border banking efficiency in France, Germany, Spain, the U.K., and the U.S. during the 1990s. We find that, on average, domestic banks have higher profit efficiency than foreign banks. However, banks from at least one country (the U.S.) appear to operate with relatively high efficiency both at home and abroad. If these results continue to hold, they do not preclude successful international expansion by some financial firms, but they do suggest limits to global consolidation.

Social movements in a globalizing world

Abstract: Table of Contents Social Movements in a Globalizing World: an Introduction D.della Porta & H.Kriesi PART I: NATIONAL MOBILIZATION WITHIN A GLOBALIZING WORLD Alternative Types of Cross-national Diffusion in the Social Movement Arena D.A.Snow & R.D.Benford The Gendering of Abortion Discourse: Assessing Global Feminist Influence in the United States and Germany M.Marx Ferree & W.A.Gamson A Comparison of Protests against the Gulf War in Germany, France and the Netherlands R.Koopmans The Diffusion and Adoption of Public Order Management Systems J.D.McCarthy, C.McPhail & J.Crist PART II: MOBILIZATION BEYOND THE NATION-STATE On the Relationship of Political Opportunities to the Form of Collective Action: The Case of the European Union G.Marks & D.McAdam The Europeanization of Movements? Contentions Politics and the European Union, October 1983 - March 1995 D.Imig & S.Tarrow Injustice and Adversarial Frames in a Supranational Political Context: Farmer's Protest in the Netherlands and Spain B.Kandermans, M. de Weerd, J-M.Sabucedo & M.Costa Supranational Political Opportunities as a Channel of Globalization of Political Conflicts. The Case of the Rights of Indigenous Peoples F.Passy Global Politics and Transnational Social Movements Strategies: The Transnational Campaign Against International Trade in Toxic Wastes J.Smith International Campaigns in Context: Collective Action Between the Local and the Global C.Lahusen The Transnationalization of Social Movements: Trends, Causes, Problems D.Rucht Bibliography Index

Developing the concept of supply strategy

Abstract: This article proposes a conceptualisation for supply strategy – an explanation for how organisations arrange and conduct themselves within modern economic environments, in order to satisfy markets in the long and short terms. After an explanation of the emerging global environment within which organisations must compete, the previous approaches to explaining this area of business are explored and found to be insufficient for the new context. There follows a conceptualisation and an account of new, supporting research – a Delphi survey, conducted to test, extend and validate some of the features of the concept. Finally, some suggestions are made for the further development of supply strategy as a useful subject area for managers and researchers.

On Holiday: A History of Vacationing

Abstract: When it comes to holidays, some talk about "seeing the world", others about "getting away from it all". These two basic philosophies of travel are elaborated in this investigation of "elsewhereness" as a human pursuit. Whether we set out in search of a mountainscape that will take our breath away, artifacts of the past to enrich our minds, the purest sand on the most unspoiled beach, or a summer place to know and cherish, we follow inner itineraries as time-honoured and various as the routes we take. Beginning his cultural journey among some 18th-century pioneers of tourism, Lofgren takes us on a tour of the Western holiday world and shows how two centuries of "learning to be a tourist" have shaped our own ways of vacationing. We see how fashions in destinations have changed through the years, with popular images (written, drawn, painted, and later photographed) teaching the tourist what to look for and how to experience it. The means of travel have bred their own expectations and rewards. Faster and more affordable tranportation, besides permitting more than a small elite to go "on holiday", has led to the package tour and the globalization of tourism.

Globalization and Educational Reform: What Planners Need to Know

Abstract: In this booklet the author examines what globalisation is, what this implies for the context in which education sector work is carried out, and how globalisation affects different aspects of the education process. He examines how globalisation affects the labour market, the work organisation and the skills required, and looks at the resulting increased demands on education systems at a time when fewer resources are likely to be available from public sources for the education sector. It is suggested that globalisation affects educational restructuring through decentralisation, privatisation and the proliferation of instruments for the measuring of education quality, a result of the need to ensure transparency in highly competitive labour market. This booklet contributes to international discussions dealing with the increasing privatisation and marketisation of education financing and management and the wider implications of the testing of education quality.

Global pathways. Working class cosmopolitans and the creation of transnational ethnic worlds

Abstract: The current interest in new diasporas and globalisation processes raises the question of what a transnational subjectivity might be like? What does it mean to be, in some sense or other, at home in the world? The present article responds to debates on cosmopolitans and transnationals, hybridity and globalisation through a consideration of the transnational world created by south Asian migrants. It argues that labour migration forges global pathways, routes along which people, goods, places and ideas travel. The need is, the article argues, to recognise the class dimensions of this movement and the significance of both strong and weak ties in determining emergent forms of cultural transnationalism and cosmopolitanism. The ethnic and religious worlds discussed in the paper – of Pakistani Muslim religious sufis and working class Pakistani ‘cosmopolitans’ – cut across national boundaries and are centred beyond Europe. The global highways along which Pakistani labour migrants travel also carry goods, brides and tourists. Like the Melanesians of whom Strathern writes that they make places and sentiments ‘travel’, Pakistani migration involves the metonymic movement of ceremonial objects such as food, clothing, cosmetics and jewellery which personify moral ‘places’. And it is through these that new global ethnic social worlds are constituted. Global families and trans-national marriages reconfigure the local through global connections, while still being marked by economic class and status.

Predatory Globalization: A Critique

Abstract: Introduction. Part I. Diagnosing the Challenge: 1. Democratizing, Internationalizing, and Globalizing: A Collage of Blurred Images. 2. Co-opting the Sovereign State. 3. On the Political Economy of World Order. 4. A Regional Approach to World Order. Part II: Substantive Dimensions: 5. The Illegitimacy of the Non-Proliferation Regime. 6. The Quest for Human Rights. 7. The Outlook for UN Reform: Necessary but Impossible. Part III: New Directions: 8. Resisting "Globalization-from-Above" through "Globalization-from-Below". 9. Global Civil Society: Perspectives, Initiatives, Movements. 10. Recasting Citizenship. 11. Toward Normative Renewal. Notes. Index.

Workers Without Frontiers: The Impact of Globalization on International Migration

Abstract: Globalization in perspective convergence and divergence the new age of migration sending goods instead of people capital to workers, not workers to capital reducing international wage disparities through migration the shock of the new the international skill exchange lubricating the flow the demand for immigrants a question of time.

Competing with giants. Survival strategies for local companies in emerging markets.

Abstract: The arrival of a multinational corporation often looks like a death sentence to local companies in an emerging market. After all, how can they compete in the face of the vast financial and technological resources, the seasoned management, and the powerful brands of, say, a Compaq or a Johnson & Johnson? But local companies often have more options than they might think, say the authors. Those options vary, depending on the strength of globalization pressures in an industry and the nature of a company's competitive assets. In the worst case, when globalization pressures are strong and a company has no competitive assets that it can transfer to other countries, it needs to retreat to a locally oriented link within the value chain. But if globalization pressures are weak, the company may be able to defend its market share by leveraging the advantages it enjoys in its home market. Many companies in emerging markets have assets that can work well in other countries. Those that operate in industries where the pressures to globalize are weak may be able to extend their success to a limited number of other markets that are similar to their home base. And those operating in global markets may be able to contend head-on with multinational rivals. By better understanding the relationship between their company's assets and the industry they operate in, executives from emerging markets can gain a clearer picture of the options they really have when multinationals come to stay.