What is the relation between economics and globalization?
1. Summary Economic globalization is often described as a world run by "placeless" giants, but the reality is much more complex . Peter Dicken argues that the central actors in this process are Transnational Corporations (TNCs), which he defines as firms that can coordinate and control operations in more than one country, even if they don't own them . These corporations drive globalization through Foreign Direct Investment (FDI), which has grown much faster than world trade in recent decades . Rather than a simple global spread, economic globalization works through "webs of enterprise"—complex production networks that connect different parts of the world but are often concentrated in specific regions like Europe, North America, and East Asia . 2. Interesting and Unusual Points One point I found really surprising is that most "global" corporations aren't actually that global . Even among the top 100 TNCs, the majority still keep more than half...