This publication focuses on the impact of technology on the globalization of markets. In Greek mythology, Prometheus had brought fire to mankind. Today, we are riding the crest of another major wave of change brought about by the invention, innovation, and pervasive use of microelectronics which, like fire unbounded, is spreading into every nook and cranny of our existence. We are dealing with a technology involving social change but on a scale and at a speed never before experienced by human beings or their institutions. With media, it is clear that because of its pervasive presence in the world, no government, no matter how popular or dictatorial, can set its nation's public policy agenda. This pervasiveness is, however, creating a new mosaic in which every community is somehow connected to every other, and to a truly global global economy and society. As global corporations begin unfolding global media strategies, we will see a steady convergence of economics, technology, and public policy likely to result in the development of truly global networks, truly global integrated systems of information and communications. Satellites and fiber optics are leading technological contributions to the creation of the truly global market. It's easy to see why the new Information Highways will change not only the way we view television and receive news and information, but also our systems of transportation, banking, healthcare, education and everything else in our lives. The influence of global media, the demand for global markets, and the pressure for national solutions to essentially global problems are changing the role of the nation- state, changing the conduct of foreign policy and compelling a rethinking of existing institutions, structures and relationships. Companies that think truly global will act locally whenever they can to deal with problems of education, the environment, energy or AIDs, applying solutions often learned in one part of the world to another.