Book excerpt: This volume comprises 15 of John Dunning's most widely acknowledged writings on the changing characteristics of the global economy over since the 1970s. It examines in particular how these events have shaped, and been shaped by, the growing internationalism of all forms of business activity. The book is divided into five thematic sections, each of which illustrates a particular aspect of change and the author's analysis of it. It examines: the main features of the new global economy, its origin, opportunities and challenges; the author's writings on the factors affecting the location of economic activity by international firms; the changing nature and form of the contribution of FDI and cross-border strategic alliances to economic development and to the restructuring of national economies; and the relationship between the competitive advantages of international firms and the productivity and dynamic comparative advantage of the economies in which they operate.