The comparative study of three South Korean automobile companies illuminates the growing dependence of new entrants on the integrated global market. The structural barriers of a tightly integrated global market redefine the strategic role of export promotion by late industrializers in the world economy dominated by transnational corporations (TNCs). New forms of export promotion which are negotiated with and internalized by specific firms entail considerable political and economic costs. The integrated global market requires development strategies reconceptualizing the advantages of trade, foreign investment, technology, and the global division of labor.
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