Abstract

This chapter examines the ways in which economic, financial, and enterprise linkages arising from conventional trade and investment activities are contributing to the creation of a truly global economy. The chapter is divided into four sections. The first briefly describes the basic structure of the global economy from contemporary data. The second section deals with trade linkages, the flows of exports and imports among countries. The third section deals with investment linkages, both in terms of annual flows (i.e., net new investment per time period) and the patterns of international ownership (i.e., aggregate investment stocks) that result from them. The multinational enterprises (MNEs) that account for a substantial portion of these international investment flows and stocks are analyzed briefly in the fourth section.

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