Accelerated Internationalization from the Periphery

The paper develops an argument concerning the pluralistic character of the process of globalization, as contrasted with the conventional account that sees global processes creating uniformity and convergence. This alternative account is based on a series of case studies of latecomer and newcomer multinational corporations, such as Acer, Ispat International, Li & Fung and the Hong Leong Group; and newcomers such as CMS Energy, Fresenius and Gemplus. The innovative features that these MNEs share, such as their accelerated internationalization, strategic innovation and organizational innovation, are brought out and elaborated. The argument is developed that the innovations of the latecomers and newcomers fit particularly well with the characteristics of the emergent global economy as one of complex inter-firm linkages, or networks of networks. The core proposition of the paper is that this complementarity between the characteristics of the emergent global economy and latecomer and newcomer strategic and organizational innovations is what drives the remarkable success of these firms. Such a proposition carries implications for the process of globalization, which may be viewed as generating plural tendencies, based on the rapid adaptation of newcomers and latecomers to the new interlinked opportunities of the global economy.