With the collapse of communism in 1990, the world entered a new phase of globalization, arguably an intensification of economic processes that trace their beginnings back to the mid-1800s. Characterised by the rise of multinational corporations, global entrepreneurs and a deregulated financial industry, the new global economy has become increasingly interconnected and complex as far as the relations among its economic and political actors are concerned.

This book explores the economic history and development of this current wave of globalization and what it means for trade, value chains, capital flows, investment and governance. The focus throughout is on the role played by business systems, new and old, in the globalization process and the way in which they have shaped the framework of global capitalism. As well as examining the processes of change and the actors involved, the book also takes a spatial perspective and explores the changing geography of global business through different national and macro-regional case-studies, including the BRIC economies, sub-Saharan Africa and South East Asia.

Aimed at upper-level undergraduate and postgraduate students in international political economy, economics and economic geography, this textbook offer an excellent introduction to the key issues shaping the world economy today.