What is the relation between economics and globalization? - Kim Yeong chan
summary This article argues that while Transnational Corporations (TNCs) are the main actors driving globalization, the idea that they are "global beings" transcending the state is nothing more than a myth. It presents the following reasons to debunk this myth. First, TNCs are not as global as we imagine; they conduct most of their activities in their home country. Second, their reason for expanding abroad is for markets and assets, not to exert any form of governance. Third, TNCs ultimately have a "permanent imprint" from their home country, resulting in diversity. Finally, no matter how powerful TNCs are, they ultimately require state permission to access territory and can be powerless before state power — for example, just as a corporation can face dismantlement if it gets on Trump's bad side. interesting point What I found interesting was the argument that no matter how transnational a corporation is, it inevitably retains a "local aroma....