The emergence in recent years of the semi-industrialized countries poses a number of questions for the analysis of the world economy and the internationalization of capital. These include the significance of industrial relocation, the factors underlying industrial growth in the semi-industrialized countries, the role played by transnational corporations and the impact on both the advanced capitalist countries and the semi-industrialized countries themselves. The paper examines these issues in the context of a study of the international motor industry.
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