Information and microelectronics-based computer and telecommuni- cations technologiessince the early 1980s provide the technical means forfinaiicigl globalizatiqit such as 24-hour electronic trading. They create the conditions ‘for global product information and thus for the globalization of demand. Global marketing and the attempt to establish global brand names has made for an increase increase in global advertising expenditures from $39 billion in 1950 to $256 billion in 1990, growing three times faster than trade. By facilitating communications within and between firms, information technologies further enable the globalization of supply For firms, the shortening life cycle of products leads to pressure to expand market shares to amortize growing research and development (R&D) cost. This prompts the globalization of compettition and intercorporate tie-ups, networking, mergers, and acquisitions to handle the cost and risks of R&D and global marketing.