Globalization and the Modern MultinationalThe World Is Getting Smaller

Falling trade barriers and rapid reductions in the costs of communication have transformed the way large American corporations do business. National borders don’t matter so much anymore. Fifty years ago, most research and manufacturing was done in the United States. And the bulk of revenues came from sales to U.S. customers. Foreign sales subsidiaries were organized along national lines. Today, vast amounts of U.S. multinationals’ production capacity, and even some research, have shifted overseas. Between 1980 and 2010, the number of manufacturing jobs in the United States ...

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