Is a global nonmarket strategy possible? Economic integration in a multipolar world order

Technology has changed the underlying structure of the world economy, increasing the cost of autonomy and making devolution unlikely. On the other hand, the increasing number of players, a multipolar world system and the rise of non-liberal powers make multilateral agreements increasingly problematic. Thus, there is an asymmetry between the MNC's market environment (an integrated international economy) and its nonmarket environment (a fragmented international political system). This paper argues that a cross-border nonmarket strategy is inconsistent with a globally integrated strategy and argues that a global nonmarket environment requires multilaterally accepted norms and rules. Issue-based multilateralism is suggested as a way out of this dilemma. (C) 2014 Elsevier Inc. All rights reserved.