"Monsters still, but prettier "

The Economist, January 3, 2002.

Synopsis:
Introducing the case of Ayala, the largest conglomerate in the Philippines, this article explains how globalization affects conglomerates in poor countries. By owning their own intermediaries, conglomerates usually thrive in inefficient markets. Globalization that results in the entry of multinational corporations and the increasing mobility of talent, however, forces traditional conglomerates to change and develop a new model. This article also introduces other conglomerates that have developed such a model to survive in the age of globalization.

Full-text Article: http://www.economist.com/business/PrinterFriendly.cfm?Story_ID=922645&CFID=708438&CFTOKEN=86526061

Text connection: Chapter 1 "Globalization" (pp.20-22).

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