ABSTRACT
For some areas of the world, 'globalization', and its attendant opportunities and dangers, is no new phenomenon. The Scottish economy has long been tied into economic structures well beyond the rest of the state of which it is a part and has been affected by international movements of population, capital and trade. At the beginning of this century, Scotland was a leading producer in steel, shipbuilding and related metals industries. Its strengths in law and accountancy made it possible in the years of the British empire to develop international financial services and investment funds which remain important to this day.
