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What light can an appreciation of the process of internationalisation throw on changing patterns of

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  • Essay length: 3139 words
  • Submitted: 19/06/2006
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University Degree Accounting

The first 200 words of this essay...

What light can an appreciation of the process of internationalisation throw on changing patterns of

The past few decades has seen an exceptional growth in advanced technology that has not only resulted in the widespread adaptation of new production methods but has revolutionised telecommunications to such an extent that the world could now be considered a "global village". With most of the last remaining communist bastions modifying themselves to the capitalist way of life, the world economy has become the largest and most complex market there has ever been.

The increasing size and volatile dynamics of this capitalist market prompted the Brandt Commission to call it "a fragile and interlocking system" (Knox and Agnew, 1989); but can the growing importance of internationalisation within the new world economy be used to explain the changing hierarchical position of these "interlocked" nations? And if so where have these changes been taking place? Before answering either of these two questions however, it is first necessary to define what is meant by internationalisation.

The process of internationalisation relates to the assumption that each nations economy is becoming less self-contained and more integrated into a global network of production. In

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