globalization & Pynchon?
KXX4493553 at aol.com
KXX4493553 at aol.com
Thu Apr 26 03:26:58 CDT 2001
"Globalization" is not a question of import and export, but of the growing
interdependence of the worldwide acting stock markets.
Saskia Sassen: "Technimetrics reports that at the end of 1997 25 cities
ruled 83 % of the worldwide value of capital. These 25 cities fixed 48 % of
the global capitalization of the stock markets... But the >global< market is
concentrated at 6 or 7 big cities. London, New York and Tokyo are managing
one third of the stocks of the investment fonds worldwide. London and New
York are controlling more than a half of the worldwide foreign exchange
trading."
My re-translation from German, cited of:
Saskia Sassen, Machtbeben. Wohin führt die Globalisierung?, Stuttgart/München
2000, S. 117.
Kurt-Werner Pörtner
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