By Frederick Guy
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Extra resources for The Global Environment of Business
With technologies and products changing as fast as they now do, however, making use of such licenses in order to build a car calls for greater technological capabilities than it did before. For that reason, small national car companies and stand-alone subsidiaries of multinationals both are obsolete. Small suppliers, without the capability to collaborate on design and to supply an international production network, Wnd themselves in a similar situation. For a detailed discussion in the case of Argentina’s car parts manufacturers, see Marcela Miozzo (2000); for a comparison of the cases of Argentina, Spain, Taiwan, and South Korea, see Mauro Guille´n (2003).
TECHNOLOGICAL CHANGE AND INTERNATIONAL PRODUCTION 17 from licensing versus foreign operations? How have they aVected the policies adopted by states with regard to foreign trade and foreign investment, whether global or regional? I have explored these questions previously (Guy, 2007). 1. INFORMATION AND COMMUNICATIONS TECHNOLOGIES AND GLOBAL FINANCIAL MARKETS The most obvious and ubiquitous technological changes of the past thirty years are in ICT – digitization of information, computers, the Internet, and other forms of telecommunications.
Turning it all into money within Spain would merely have caused tremendous inXation (plenty of which occurred, in any case). Much of it got spent on imports from elsewhere in Europe, but in those days, other European countries did not have so much to sell. As luck would have it, there was tremendous demand for silver in China. In about 1400, at the beginning of the Ming dynasty, China had begun a process of remonetization, ending the previous dynasty’s experiments with paper and copper money, and switching to silver.