Globalization and International Business as Interdependent Phenomena
Whether it is the relocation of a local plant to another country by a multinational corporation (MNC), the availability of a vast array of fruits and vegetables at the local supermarket throughout the year, or the internationalization of professional sports where the national hero in a certain sport may play professionally for a foreign team, globalization and international business (IB) evoke interest – and often passion – in each of us. Are these phenomena interdependent? In this commentary, I will address this question by first briefly outlining the early period of globalization and IB. I then highlight the definitions and related contemporary issues, including the question of semi-globalization. Lastly, the linkage between globalization and IB is discussed further and I close with a prognosis.