How can we account for the rise and growing role of multinational enterprises from the Asia Pacific in the global economy Specify your reasons using corporate cases of multinationals from different industries and different countries of origin - Essay Example

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The increased interconnection and interdependence of global economies, as a result of globalization, has inevitably resulted to the birth of the multinational corporation (Yang & Huang 2011, p.1); multinational enterprises have played a major role in international economic…
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How can we account for the rise and growing role of multinational enterprises from the Asia Pacific in the global economy Specify your reasons using corporate cases of multinationals from different industries and different countries of origin
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Download file to see previous pages Asian multinational corporations have largely been successful in the Asia Pacific region (Collinson & Rugman 2007a, p.5). However, breaking into the western markets, especially in Europe and the US, has not been easy due to the huge presence and domination of their western rivals in those markets (Collinson & Rugman 2005, p.25). Presently, Asia Pacific MNCs are capitalizing on their years of experience gained from intra-regional growth and expansion as well as from their working with international partners to reach out to global markets. Financial reform is a major driver for the rise of Asian multinational corporations in the global economy (Buckley et al., 2009:297). Nevertheless, Asia pacific corporations are largely driven by state support, cheap labor and cheap money (Collinson & Rugman 2007b, p.436).
Internationalization of the automobile industry has been rapid over the years, particularly over the last half of the 1990s, as a result of the establishment of essential overseas facilities and mergers between leading multinational automakers (Nag, Banerjee & Chatterjee 2007, p.1). Asia Pacific is a global automobile hub that plays a significant role in the global automobile industry, both as a consumer and a supplier of automobiles (Ernst 2006, p.2; Holweg, 2008:16). Asia Pacific multinational corporations are grappling with how to pursue global strategies while at the same time coordinating and connecting them with their strategies of localization (HO 1998, p.1; Amsden 2001, p.273). The US auto manufactures including GM, FORD and Chrysler have merged with the other European and Japanese automakers as a way of expanding into overseas markets. The Japanese and European automobile markets rely so much on foreign exports, unlike the US automobile market, which relies on the domestic market, and on the Canadian market. ...Download file to see next pagesRead More
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