![]() It is in this context that we see a rescaling of what are the strategic territories that articulate the new system. This has changed rather dramatically over the last decade as a result of privatization, deregulation, the opening up of national economies to foreign firms, and the growing participation of national economic actors in global markets. The international economic system was ensconced largely in this inter-state system. But to a large extent these took place within the inter-state system, where the key articulators were national states. There have long been cross-border economic processes-flows of capital, labor, goods, raw materials, and tourists. One of the key properties of the current phase is the ascendance of information technologies and the associated increase in the mobility and liquidity of capital. Each phase in the long history of the world economy raises specific questions about the particular conditions that make it possible. ![]() Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License. Conerly, Kathleen Holmes, Asha Lal Tamang Use the information below to generate a citation. Then you must include on every digital page view the following attribution: If you are redistributing all or part of this book in a digital format, Then you must include on every physical page the following attribution: If you are redistributing all or part of this book in a print format, Want to cite, share, or modify this book? This book uses the
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