Localization/Delocalization

Abstract

Localization emerged as a countercurrent to globalization. The proliferation of global production networks reduced local control of economies, and led to delocalization. However, fears of a homogenized world dominated by a few leading transnational corporations never materialized. Transnational corporations increasingly adopt strategies to localize investment, management, product design, and marketing as an effective approach to global expansion. Localization is also the primary means through which localities respond to the challenge of globalization, namely by mobilizing local resources to couple with global networks, and furthering the local embeddedness of foreign corporations. The coexistence of localization and globalization is often described as “glocalization.”