CLASSICS 1M03 Study Guide - Final Guide: Hyperbole, Fortune Global 500, International Monetary Fund
Document Summary
What globalization is, arguably, not (or at least not just): International trade and investment have increased enormously in the last 50 years. However, trade and financial flows are not a unique characteristic of the late 20th century. By some measures (trade as a percentage of gdp, capital flows/gdp), much (although not all) of the world was more internationally connected in 1913 than it was until the 1990s. Some of the largest economic agents on the planet are not states but. Measured by revenue (fortune global 500) at number 24 is walmart with revenue of close to billion, with several other corporations close behind. These corporations have revenues that are larger than all but the largest states. Larger than the most significant international organizations. Moreover, the absolute number of mncs has been increasing rapidly. However, mncs are not historically unique, nor is their power as individual actors greater now than historically. East india company, hudson"s bay corporation, etc.
