Preface

Abstract

At the time of this writing, the world was experiencing its worse recession and financial crisis since the Great Depression of the 1930s. After half a century of world growth and two decades of transformation to capitalism by much of Eastern Europe and Asia, world national product and trade will fall this year. For the first time since the postwar growth miracle, multinational enterprises (MNEs) are restructuring, cutting their foreign investments and subsidiary operations. Many senior expatriate managers, particularly those working in the global finance industry, have lost their jobs or been repatriated. All eyes are on the upcoming G20 meeting in April, where the new U.S President Barack Obama will be meeting his counterparts from China, the United Kingdom, Germany, Japan, and other member nations to discuss and formulate globally coordinated fiscal and monetary policies to help reverse the course of the current world economic turmoil.

Citation

Cheng, J.L.C., Maitland, E. and Nicholas, S. (2009), "Preface", Cheng, J.L.C., Maitland, E. and Nicholas, S. (Ed.) Managing, Subsidiary Dynamics: Headquarters Role, Capability Development, and China Strategy (Advances in International Management, Vol. 22), Emerald Group Publishing Limited, Leeds, pp. xv-xvi. https://doi.org/10.1108/S1571-5027(2009)0000022004