ABSTRACT
The ultimate effect of the emergence of a computer-mediated global economic system is that it erodes the control that nation-states and national governments have traditionally exercised over economic activity within their economies, and between themselves and other national economies. The new infrastructure is integrating markets and synchronizing economic activity on a global rather than a national scale, and it is transforming the distribution of world economic power and wealth between nations. A global economic intelligence system now interconnects and integrates stock markets, currency markets, and commodity markets and, indeed, all markets directly or indirectly throughout the world. The corporate giants in the United States, Europe, and Asia continued to merge and converge in the global marketplace, gobbling up whatever they could in order to dominate. The new central electronic marketplace would trade leading international stocks when their home markets were closed and compete with the home markets when they were open.
