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International Business in Emerging Markets The global business revolution has rendered obsolete national industrial policy to support large indigenous firms. Discuss January 2007 Given recent adjustments in the global business structured, it has become increasingly obvious that the roll of government in local, regional and international economy has to be reassessed and probably restructured (Dunning 73). The global business revolution has seen the opening up of local economies to foreign firms. Often governments have adopted national policies and practices that seek to protect the interests of large local firms. The trends in the global economy, are, however, opposed to this position taken by governments. It is commonly believed that, with the changes in the functioning of the global economy brought on by globalization and other factors, the formation of protective national industrial policy is a thing of the past and must be replaced by more liberal governmental policy practices. Increasing...

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