ABSTRACT
We began this book arguing that as a global economy emerges, more and more production factors and inputs become ubiquitous, available at more or less the same cost in different parts of the world. The cheapening of transportation and the development of world-wide telecommunication services, combined with a well developed functional and territorial division of labour, make it possible for most firms to take advantage of cheap ore from Australia, labour-intensive subcontracting in China, well designed computers from Taiwan, sophisticated machinery from Germany and Italy or high quality services from global consultants like Arthur Andersen. The integration of the European market will, among other things, even out current regional differences in energy prices and national taxation.
