1. Why US Media Conglomerates Will Continue To Dominate
the Global Media Landscape in the 21st Century,
Though At a Diminishing Rate
By Omar Katerji
Overview
Context review
US Media Conglomerates
Non-Western Media Contraflows
Identifying key-indicators of contraflows
Summary
Works cited
The Appendices

2. 2 Katerji
I elected to narrow down the paper’s focus to US media (as opposed to Western media)
conglomerates because in terms of format, content, production and distribution, the US
dominance -even over other Western media1 (Cowen, 2012)- remains statistically patent
(The World Bank, 2013; US Department of Commerce, 2013; PricewaterhouseCooper,
2011).
Relevant to my essay, I found research done have either reviewed the discourse of
media hegemony (for, or against) Gramscian views (Carragee, 1993; Altheide, 1984;
Montessori, 2011) or examined multinational media’s ownership-consolidation
decisions, patterns (Sullivan & Jiang, 2010 ; McChesney, 1999; Chan-Olmsted & Chang,
2003) and impacts (Comer, 1997; 2008; Slaughter, 2009). Other notable trajectories
examined the technical infrastructure of media in a globalized age and its role in
extending the ascendancy of western2 ideological supremacy (Hawkins, 1997; Neubauer,
2011; Boyd-Barrett, 2006). And recently, some scholars examined the rising trends of
non-western media challengers (Thussu, 2007; Yong Jin, 2007; Rego, M., & La Pastina,
2007).
Little, however, I saw was done to examine what are –if any- the agency factors
that could -if mustered- challenge the dominance of US media conglomerates. Despite
vast disparities that still separate US media from its closest rivals (Thussu, 2012)3, I
point out that the impending challenge to US conglomerates’ dominance will not be
grounded on enterprise-to-enterprise basis. Rather, I argue, that due to the
underpinnings of their nation-states, certain contraflows could become serious
contenders. This departs from conventional [neoliberal] wisdom that decentralized
states will only become less relevant and that multinational corporates would become
less state-bound (Hawkins, 1997). I hope findings of this essay could set foundation for
next-generation frameworks that use robust statistical modeling to analyze media
contraflows taking into account their nation’s political, technical and macroeconomic
trends.
My central thesis will scrutinize US media supremacy, evaluate challengers; but
most importantly, forecast why US Media and culture will continue dominate but
only at a diminishing rate.
1 Namely Cowen’s reference was in films (Cowen, 2012) p: 381)
2 With the exception of Japan
3 In terms of reach, spectrum, political and economic power
OVERVIEW

3. 3 Katerji
Cultural imperialism is the cognizant, commercial one-way flow of media and
communication products to achieve overwhelming commercial and political
superiority by ‘flooding domestic cultures’ with one nation’s commercial media
products (Yong Jin, 2007, p. 754)4.
In pertinence to my thesis on US media dominance, mass media today offers an
ideal ideological and institutionalized platform to exercise a “soft power” control.
According to Joseph Nye5, ‘Soft power’ is getting others to want the outcomes that you
want –co-opts people rather than coerce them’ (2004, p. 5). Unlike ‘past imperialism’
(that controlled native communities by colonizing them ‘territorially’), imperialism
today ‘is more about subjugating the native by colonizing her/him discursively’
(Lucaites, Condit, & Caudill, 1999, p. 593). Capitalism, hence, through advertising,
makes-consumers-believe that through their own participation ‘in the act of
consumption’, their dreams and desires could be fulfilled (Skinner, 2010, p. 164)6.
These stem from Antonio Gramsci’s conception of ‘hegemony’ as a capitalist
vehicle designed to establish and extend the ideological supremacy of dominant
groups over ideologies of subordinate groups (Carragee, 1993). Hence, to secure
popular consent in capitalist societies, an imagined culture -that could be embraced
by the mass as their own- has to be produced ideologically to subjugate the populaces
(Montessori, 2011). This subjugation comes by ‘consensus’ -as opposed to
enforcement of ‘coercive’ power upon them; something Gramsci referred to as ‘war of
position’7 (Montessori, p. 171).
SHORTCOMINGS IN SOME LITERATURE
Though Gramsci’s construct remains relevant insofar as frictions between dominant
flows and contraflows persist, I believe that appropriating his conception of hegemony
4 This broad embodies citations from Herbert Schiller, Jeremy Tunstall, and Thomas Guback
5 American political scientist and former Dean of the John Kennedy School of Government at Harvard University
6 Citing Edward Comer Professor at the University Of Western Ontario, Canada
7 Is a new strategy that Gramsci believes can arise from subordinate classes if they could share a novel ideology, or what he
referred to as a ‘collective will’ since hegemony doesn’t necessarily nestle in the state’s domain or in the dominant elite.
CONTEXT REVIEW
CULTURAL IMPRIALISIM, HEGEMONY AND DOMINANCE

4. 4 Katerji
in a global age becomes intricate -as both the subjects of contention and the stage
where contestation occurs have vastly extended since Gramsci’s time. See note8.
On another hand, claiming that Western cultural invasion is receding merely on
basis of reduced media-imports alone (Chadha & Kavoori, 2000) fails to capture the
impacts of other forms of cultural invasion such as FDI, franchises-licenses and venture-
capitals that instill organizational philosophies and behaviors of overseas companies.
Moreover, Cultural invasion can systematically ‘violate sovereignty’ via ‘supranational
communication technologies’ and ‘schooling of foreign students to US’ (Schiller, 1996, p.
102). Hosting foreign universities is another medium; a textbook example would be
Qatar’s ‘wholesale’ invitation of American Universities9 to open in Doha (Miles, 2006, p.
18). I reckon thus that unconventional influence formats such as American business
degrees, and adherence by subsidiaries to reporting protocols of US parent companies
would only extend the prevalence of American culture.
Furthermore, the push to liberate economies of developing countries through
US-foreign aid policies (Easterly, 2006; Shanker, 2007), or US influence over
international monetary organizations like the IMF (Dreher & Jensen, 2007) and the
World Bank10 (Fleck & Kilby, 2006) will benefit (amongst others) US media
conglomerates.
US-based multinational11 media conglomerates today are engaged in a wide spectrum of
production and dissemination of media commodities ranging from copyright materials,
newspapers, book publishing, broadcasting, cable TV, audio recording, motion pictures
advertising, computer software and data processing (Comer, 1997; Lovink, 2004) as well
as internet-based applications (Sullivan & Jiang, 2010 ; Boyd-Barrett, 2006).
8 Citizens, states and regions today contest ideologies on a much more cross-border level and pace and agents(of which
media conglomerates are one of) -though may have the blessing of a dominate state- are inter-competitive and their
loyalty is only pledged to the business of making profits now; for instance, if increasing the bottom-line of an American
media conglomerate means they need to invest in a studio in China, they may not heed that on the long term The Chinese
could build their own capacities or buy out their share. The dominate ideologies may be seen as a bloc insofar as a
monetary benefit is realized, while Gramsci assumed the bloc is homogeneous because he did not say otherwise.
9 Inviting Cornell Medical School, Virginia University, Carnegie Mellon, Texas A&M and American think tank Rand
Corporation to Doha.
10 From 1946 till today, twelve World Bank presidents and by no coincidence all have been American citizens
11 The Bureau of Economic Analysis (BEA) defines a U.S. multinational company as any U.S. enterprise that holds at least
a 10% direct ownership stake in at least one foreign business enterprise
US MEDIA CONGLOMERATES

5. 5 Katerji
Industry analysts anticipate that growth of US Media industry will be continue
to be driven by expansion in foreign markets12 (Spiegel, Same, & Atal, 2013;
PriceWaterhouseCooper, 2013) to stay competitive (Spiegel & De La Hoz, 2013). See
Appendix-A. This was mimicked by Booz&Co., who forecasted that further growth for
the Media and Entertainment industry ‘will be fed primarily from emerging markets’13
(2013).
Though US media conglomerates increasingly localize their products
[glocalizing14] to match the taste of local-foreign markets, they remain stewards of
promoting American cultural /capitalist ideals (Thussu, 2007; Comer, 1997; Neubauer,
2011). Moreover, their influence is forecasted to grow further on basis of their M&A15
consolidation (Sullivan & Jiang, 2010 ), digitalization16 and globalization17
(PriceWaterhouseCooper, 2013).
The Top five US conglomerates today alone are worth a combined $248 Billion in
assets and employ 280,000 people (Fortune, 2013).
12
Indeed, 23 percent of media & entertainment CEOs in a PWC 2013-survey on business growth-opportunuities saw
combined opportunities in foreign markets (either existing or new) as opposed to 20 percent who saw in opportunities in
their domestic markets
13
The report identified Latin America, Asia, Russia and the Middle East to be amongst the most growing markets
14 Term coined by sociologist and globalization theorist and current lecturer at the University of Aberdeen, Ronald
Robertson; citation was quoted from his 1995 work Spaces of Identities: Electronic landscapes and cultural Boundaries.
15 Mergers and Acquisitions, which is a corporate strategy to gain access to market or scale up rapidly by acquiring or
merging with other strategic companies to stay relevant and competitive.
16 To take advantage of current and projected exponential growth in data traffic driven by digital entertainment and media
content consumption
17 US networks continue to see lucrative opportunities to expand their footprint via M&A or collaborative partnering in
international markets to take advantage of global regulatory environments, opening of emerging markets to foreign
investments namely markets with strong GDP and entertainment and media consumption growth forecasts such as
Turkey, Poland, Russia, and India (PriceWaterhouseCooper, 2013)
See Figure

6. 6 Katerji
USA today is the largest exporter of intellectual property18 (The World Bank, 2013). In
2012, the US received in ‘films and television tape distribution’ alone Six times more
than it paid the rest of the world (US Department of Commerce, 2013). See Figure below:
This stark variance is not unusual according to Robert Cox19 who considers the state to
be the ‘central agent’ with vested interest in encouraging the manufacture of dominant
institutional and ideological products (Comer, 1997, p. 195), and then negotiating
favorable trade-conditions [on behalf of its multinationals] to disseminate those
commodities thereafter globally (Comer, 1997).
On their part, US-based multinationals restitute in forms of corporate taxes,
GDP/R&D contributions and creation of US jobs (Slaughter, 2009). See Appendix-B.
In this light, transnational corporations can be seen as economic arms in a bloc
governed by the political state20. Constructing such a contemporary bloc is vital to my
thesis because I will then argue that other nation-states -especially the ones housing
viable contraflows- can hence subscribe to the same rational. That opens up the
18 Which includes patents, trademarks, copyrights, industrial processes and designs including trade secrets, and
franchises) and licensing agreements, of produced originals/prototypes (such as copyrights on books/manuscripts,
computer software, cinematographic works, and sound recordings) and related rights -such as for live performances,
television/cable, or satellite broadcast
19 Professor Robert W. Cox is a former political science professor at Columbia University and current Professor Emeritus
at York University (Canada) where he wrote his book Production, Power and World Order in 1987.
20 Despite their structural differences and given that such coalition only improves conglomerates’’ bottom-lines
THE RELATIONSHIP BETWEEN THE STATE AND MULTI-NATIONALS
US receipts from Film
& TV alone in 2012
were 612% more than
its total payments to
the Rest of the world
Source: US Department of Commerce, 2013

7. 7 Katerji
discussion for comparative (1) macroeconomic, (2) foreign political and (3) cross-border
technical competencies.
Hence, only when acknowledging that a state-corporate relation interest still
exist despite all the neoliberal rhetoric21, then the optimistic outlook for US media’s
(continued) dominance would be undercut by a counter state-backed non-western
media flows.
Over the past few decades, a number of non-western media products has become more
visible in a media market -previously dominated by US conglomerates (Rego, M., & La
Pastina, 2007; Miles, 2006; Curtin, 2003). Genera dubbed ‘contraflows’ such as Korean
drama, Brazilian Telenovelas22, Japanese Anime, Global News channels, and Indian
films are on economic terms far from challenging to US conglomerates (Koichi, 2007;
Yong Jin, 2007; Thussu, 2012). But the questions I’m asking are: (1) will they ever be,
and if so, (2) on what basis?
To answer these two inter-related questions, I will contextualize the contraflows
and then expose why viewing them as enterprises in the same light as US media
conglomerates understates their full potential of challenging the global media status-
quo.
21 Despite their structural differences there is no denying that is self-serving to both bodies
22 Television novels as their Spanish-Portuguese translation implies, are limited-run serial dramatic programming popular
in Latin American, Portuguese, Filipino, span, and north American (Spanish language network) television programming.
NON-WESTERN MEDIA CONTRAFLOWS
Brazil
China
Qatar India
JapanKorea
Telenovelas
News Reporting
Anime, Manga & Culture
Drama & Pop culture
Bollywood
News & Culture
Geographical distribution of main media Contraflows in the World
See geographical distribution below:

8. 8 Katerji
The Qatari-backed Al-Jazeera started in 1996 as ‘the first independent news channel in
the Arab world dedicated to covering and uncovering stories in the region’ (Al-Jazeera,
2012). By 2005, it has become a globally-recognized brand (Sakr, 2007). By 2006, Al-
Jazeera-English had over 60 bureaus around the world reaching over 250 million
households across 130 countries, and by mid-2012 it had a network of 20 channels23 (Al-
Jazeera, 2012). Its English-Website in 2012 attracted over 22 million visitors/month
(Lafi Youmans, 2012), and by late 2013, Al-Jazeera-America following various market-
entry hurdles (Hagey & Gryta, 2013) was launched in major US cities24 gaining access to
55 million US homes25 (Al-Jazeera America, 2013).
Al-Jazeera may also have inspired other government-backed, international 24/7
news channels such as ‘Russia Today’ (Rantanen, 2007), ‘TelSUR1’, a Venezuelan-based
pan–Latin American television network, (Sakr, 2007) and the multi-lingual Chinese-
based ‘CCTV News’26 (Li, 2013). CCTV News’ is an interesting case not only because it’s
backed by a government with deep reserves, unmatched demographic potentials27 and
surging political superpower, but also because the station –being the CCP28’s mouthpiece
–will need to balance its transparency and journalistic competency against the state’s
political agenda-setting and propagation (Tang & Iyengar, 2011).
Japanese manga29 (comic) Japanese anime (animation) started gaining global
recognition since the mid-90s when franchise brands30 such as Super Mario Brothers,
Pokimon and Hello-Kitty were becoming global multibillion-dollar hits (Koichi, 2007).
Japanese multinationals has also significant FDIs in US media stakes such as Sony’s
23 Ranging from news to in-house documentary, and live sports along with a host of other regional channels
24 Namely New York, Dallas, and Los Angeles
25 Al Jazeera bought out Current TV earlier in 2013, which then used as a platform to launch Al Jazeera America on Time
and will be carried by Warner Cable and Bright House Networks
26 China Central TV (CCTV) launched CCTV International (CCTV-9) but renamed the channel CCTV News in April 2010 to
reflect its commitment to comprehensive news coverage
27 1.3 billion citizens (Central Intelligence Agency, 2013), highest Diasporic community
28 Acronym for the Chinese Communist Party’s; a one-party political government
29 A genre that encompasses various theme from lovable children characters, to political themes, sports and pornography
30 Merchandized formats that ranges from videogame formats to manga, anime, trading cards toys and books
INTERNATIONAL NEWS CHANNELS (AL-JAZEERA AND CCTV NEWS)
JAPANESE CULTURE AND MEDIA

9. 9 Katerji
acquisition of Columbia Pictures (NewYork Times, 1989) and Matsushita’s buyout of
MCA31 (Fabrikant, 1990).
The media culture of Japan also includes pop-culture and TV formats ranging
from drama, quiz shows, and competitions that are particularly popular in Asia -where
the audience can relate to Japanese actors and pop-artists more than their western
counterparts (Koichi, 2007). In 2007, the traditional manga market was estimated to
around 400 billion yen (McCurry, 2009).
The first telenovela was aired in 1950; yet, between 1965 (when Brazilian TV Globo was
incepted32) and 2010, Globo alone produced about 319 telenovelas (Thomas, 2011).
Globo’s telenovelas number of international subscribers has more than quadrupled
between 2003 and 2005 alone and has been dubbed and exported to more than 130
countries (Rego, M., & La Pastina, 2007).
And while long-running US-made soap-operas33 were getting terminated in the
US (due to receding viewership), in comparison, telenovela viewership34 in the US was
thriving (James, 2011).
Until the 1990s, Korea was a typical case of the cultural imperialism presented in
unilateral media flow35 from US (Yong Jin, 2007). However, following post-1997
economic crisis era, Korea started investing in its own film production and by 2001 the
31 Later on in the mid-90s however MCA was divested by Matsushita
32 Globo TV first (in 1965) partnered with U.S. media group Time-Life, however, four years later and under pressure from
the Brazilian government bought back Time-life’s share to become a wholly-owned Brazilian company by 1969.
33 Such as ‘All My Children First premiered in 1968 and ‘One Life to Live’ First premiered in 1970
34 A growth that is attributed to proliferation of Latino population in the US
35 Mainly films, television programs and music
BRAZILIAN TELENOVELLAS AND GLOBO TV
KOREAN CILTURE AND MEDIA
See export distribution figure

10. 10 Katerji
three main Korean media production companies36 accounted for 91 percent of television
program -especially drama- exports Mostly to China, Japan and Taiwan respectively;
other markets included South East Asia, North Korea, Egypt, Mexico and USA (Yong Jin,
2007; Kim, 2007).
Korean Dramas drew their successes from their cross-generational appeal,
emphasis on Asian values yet in a modern context that were absent in American and
Americanized Japanese drama (Koichi, 2007). The successes of Korean dramas
spreading across East Asia cultures and were dubbed “Korean-Wave (Kim, 2007).
In a step to capitalize on this success, a 1,000,000 m2, multibillion dollar
Korean–financed37 ‘‘Hallyu-wood38’’ Theme Park was debuted in 2008 (Prime News,
2008). This cultural complex will provide various facilities such as movie and
entertainment studios, museums and restaurants embodying Korean culture (Joo, 2011).
In fact, the value of South Korean Media & Entertainment sector as share of its GDP
(3.1%) is the highest in the world surpassing that of Japan (2nd) and USA (3rd) according
to PwC (PricewaterhouseCooper, 2011). See Appendix-G
The Indian Film industry39 is certainly the oldest and perhaps most controversial of all
contraflows. Driven by its peculiar set of politics; its wide spectrum of audience ranging
from substantial domestic, regional and Diasporic market, the industry oscillates
between confronting the west, and conforming to it -especially in light of recent US
direct investment in it (Cowen, 2012).
India’s geo-linguistic variances and agility in addressing the politics of cultural difference
has helped its film industry since early times fashion flexible formats that can move
across multiple regions through dubbing and multiple version (Govil, 2007). Yet despite
surpassing Hollywood in production volume (Cowen, 2012), Indian film ‘exports market
topped 100 million’ only last decade (Govil, 2007, p. 95). Moreover, the value of the
entire media sector in India -as a percentage GDP- was still measured less than one
percent in 2011 (Confederation of Indian Industry, 2012), signifying the opportunities
still to be harnessed.
36 KBS, MBC and SBS
37 See: ‘Politics of Nation-states’ below
38 Hallyu (Korean Wave) a term first coined in 1998 by Chinese media to describe the phenomenal Korean popular culture
that became very fashionable amongst Chinese youth.
39 Also referred to as Bollywood though the latter is only the larger and more prestigious Bombay City subset
INDIAN FILM INDUSTRY

11. 11 Katerji
Today, transnational forms of communication40 offer public-sphere platforms for
Diasporic communities at their hosting countries while connecting them real-time with
their countries-of-origin (Morley, 2000).
Yet, since ‘how well Hollywood can make movies depend on native sources of
inspiration’ (Cowen, 2012, p. 383), and since USA remains the largest destination for
immigrants -See Appendix-C- world-wide41 (United Nations, 2013) with swelling Latino,
Chinese42 and Indian43 communities, I will argue that a contraflow will shape US media
conglomerates from within. Indeed, Telenovelas’ viewership –driven by demographic
shifts in Latino-Americans- has already far outpaced US soap-operas in the US44
(Jacobson, 2012).
Diasporic communities in the US, though invest and enrich the culture
significantly, they could also be seen as a contraflow. Their cluster-size, activism-level,
affluence, and loyalty of Diasporic communities could be barometers of how significant
their contraflow and disloyalty to media conglomerates in the US market would be.
Yet, optimism for contraflows is still premature because its economic value is still
modest compared to US conglomerates’ output (US Department of Commerce, 2013;
Thussu, 2007) and because they are still faced with fraught expansion obstacles.
For instance, Al-Jazeera-America struggled for 12 months to be carried by any
US cable (Lafi Youmans, 2012) before reaching [a costly] agreement to access the US
market (Al-Jazeera America, 2013). Moreover, when Korean drama claimed to reach 27
million US households (Kim, 2007) Korea’s television imports from US in the same
period accounted for 78 percent of its imported foreign programs (Korean Ministry of
Culture and Tourism, 2004). And although Telenovelas seem to be gravitating
viewership in the US market (James, 2011), one has to ask how many of these are
40 Especially Satellite and Internet
41 With 46 million immigrants in 2013
42 Worldwide estimate is 50 million (Xinhua, 2012) yet with considerable stocks in USA
43 A Worldwide estimate of 25 million (The Ministry of Overseas Indian Affairs, 2009) yet with considerable stocks in
USA
44 From September 19, 2011 to December 25, 2011 telenovelas in the US according to Nielsen data averaged 5.7 million
viewers a week, while soap operas on the U.S. broadcast networks ABC, CBS and NBC only averaged a combined 2.9
million viewers
DIASPORA
CONTRAFLOW FLAWS

12. 12 Katerji
Brazilian telenovelas, as opposed to other Latin American series? Conversely, there is
only one Hollywood ‘regardless of where the movie is filmed’ (Cowen, 2012, p. 382).
Evidently though, and despite all contraflow enthusiasm, US-based and/or US-
affiliated cultural industries have greatly expanded their dominance of cultural products
over the last decade (Yong Jin, 2007; Koichi, 2007).
Moreover, given the multi-facet clout45 of US influence and the vast economic
discrepancy between US media and abovementioned contra-flows, should the world
concede that US media’s dominance isn’t doing away anytime soon?
The short answer is no; for ‘why’ see the section below.
The prevalent rhetoric about globalization/neoliberalism may have obscured signs that -
in isolation- may seem impotent, but when combined, present sound indications that
nation-state’s power remains the focal point in setting their home-grown contraflows to
play an anti-imperialistic cultural role.
To test if prospects of contraflows have in fact merits, I will suggest a set of
metrics that will support my analytic framework.
First, I will demonstrate that the political and backing of nation-states is not at all
lacking. Then, I will argue that governments will invest heavily to propagate their
contraflows. I will also argue that advanced ICTs are no longer exclusive to USA. Finally,
I will discuss why the rise of entrepreneurship in Asia in the context of media.
I called this model PIE (Politics/ICTs/Economics) because it imbues an ambition
for a piece of the global [media] pie currently dominated by US conglomerates.
Despite easing their protectionist rules, many states still fend against foreign media
flooding by imposing quotas on foreign airtimes and media ownership while subsidizing
45 Review page-4 for US foreign Aid policies, IMF and World Bank influence not to mention, education institutes, FDIs
IDENTIFYING KEY-INDICATORS OF COUNTERFLOWS
THE FRAMEWORK
I- POLITICS

13. 13 Katerji
their local production (Chadha & Kavoori, 2000). Moreover, despite the rising rhetoric
of ‘Stateless’ corporations -where allegiance is no longer pledged to a particular state -
substantial financial, legal and organizational bonds still symbiotically link multinational
firms with their ‘home-states’46 (Hawkins, 1997, p. 179).
Relevant to my thesis, however, are nation-states’ politics that foster ‘soft-power’
via underpinning laws/subsidies conducive to production and dissemination of cultural
commodities.
In 2007, Defense Secretary Robert Gates urged the U.S. government to commit
more money and effort to “soft power” instruments47 including communications
(Shanker, 2007) see speech48.
In the same year President of China Mr. Hu Jintao addressed the nation pledging
to invest in enhancing Chinese culture as part of its soft power (china.org.cn, 2007)49
. 50.
Japan’s Prime Minister, Taro Aso, in a 2009-speech ( 51)
pledged to raise the percentage of Japan’s exports of its cultural52 "soft power" to 18
percent by 2020 (McCurry, 2009).
Finally, to compete with Hollywood, “Hallyu-wood53” (a $1.9 billion theme-park
financed by the Korean government) was envisioned by officials that it will stand ‘a
world away from US-dominated pop culture’ (Joo, 2011, p. 499).
54
Such political lines clearly demonstrate the nations’ stakes in spreading and
propagating their cultures and ideologies.
46 Including providing domestic political (security and legislative) environment and infrastructure conducive to growth
47 Other notable forms Mr. Gates mentioned were “diplomacy foreign assistance, civic action and economic reconstruction
and development.”
48 ‘I am here to make the case for strengthening our capacity to use ‘soft power’ and for better integrating it with ‘hard
power.’ (Shanker, 2007).
49 China’s Government web portal which translated to 11 languages
50 ‘We must keep to the orientation of advanced socialist culture, bring about a new upsurge in socialist cultural
development, stimulate the cultural creativity of the whole nation, and enhance culture as part of the soft power
[emphasis added] of our country…and enhance the influence of Chinese culture worldwide’.
51 ‘Japanese content, such as anime and video games, and fashion draw attention from consumers around the world.
Unfortunately, this soft power is not being linked to business overseas. By linking the popularity of Japan's soft power to
business, I want to create a 20-30 trillion-yen market by 2020 and create 500,000 new jobs’
52 With particular emphasis on manga, animated films, video games and pop music
53 See Korean Media on page 10
54 The Korean government created advisory committees54 to underpin Korean culture and encouraged colleges to open
cultural-industry departments and scholarships (Kim, 2007).
See more in note
See more in note
see speech

14. 14 Katerji
II- INFORMATION COMMUNICATION TECHNOLOGIES (ICT)
ICTs make my second pillar in arguing against unrivaled US media dominance. As
Comer notes, ‘technological applications’ become ‘prerequisites’ for capitalism to ‘evolve’
and a foundation for ‘retooling US international Hegemony’ (2004, pp. 195-194).
However, the trends are shifting. When I examined exports of (1) high-Tech55, (2)
ICT Goods56 and (3) ICT Services,57 I found USA only ranking in second, third and fourth
place respectively. China, on the other hand, ranked first in two indices and third in ICT
service exports (trailing India and Brazil). USA in no index surpassed China and when
came second to China (on High-tech exports), China’s exports were 300% more58. As
thus, Asian supremacy in ICTs was found empirically outdoing USA’s.
Moreover, India’s ICT-Service Exports (1st in the world today) were even
advancing at the expense of American ICT job-shedding (Richards & Margolis, 2004).
In summary, USA is losing competitive-edge in the ICT domain59, thus giving rise
to [mostly] Asian countries. This rise of ‘Asian ICT competition’ and threat to American
ICT hegemony was also echoed by Boyed-Barret (2006, p. 38).
See all three figures below:
55 These are products with high R&D which includes computers and electric machinery.
56 Information and communication technology Goods exports include telecommunications, audio and video, computer and
related equipment; electronic components; and other information and communication technology goods. Software is
excluded.
57 ICT Service exports include computer and communications services (telecommunications and postal and courier
services) and information services (computer data and news-related service transactions).
58 ($457 Billion) measures three times the export value that of the US ($145 Billion).
59 As such marked crucial for information hegemony (Comer, 1997)

15. 15 Katerji
Source The World Bank:
ICT GOODS EXPORTS (% of total goods exports)
Source The World Bank:
ICT SERVICE EXPORTS (% of service exports)
Source The World Bank:
EXPORTSHIGH TECHNOLOGY

16. 16 Katerji
Having established linkage between US media contenders and their nation-states, my
third indicator of media challenges to USA’s are the Macroeconomics of nations and the
Microeconomics of [specifically Asian] entrepreneurs.
In short effective foreign politics rest on robust macroeconomics. To illustrate
this interdependency, I will point out the fundamental dissimilarity between two
political adversaries.
Since the 1950s, North Korea has been one of America’s most anti-imperialistic political
adversaries; yet, with a per-capita GDP of just $1,800 (Central Intelligence Agency, 2011) little
North Korea has achieved despite its hard-line policies. Conversely, USA’s prosperous economy
during the same period not only financed the war that quelled North Korea, but did so while
winning over Europe by financing its Post-War reconstruction (Reynolds, 1997).
Today, economies such China, Japan, Brazil,60 India and South Korea along with
Qatar’s61 are economies to be reckoned.
In fact, according to US Treasury (See Appendix-D), China owes USA $1.2
trillion (The Guardian, 2012). Additionally, given China and India’s GDP growth-rate,
one OECD report suggested that by 2060, US economy would be trailing both China and
India (See Appendix-E) respectively (OECD, 2012).
To gauge where USA stands today with respect to my extrapolations, I compiled
three macroeconomic trends that I believe captures USA’s ability in the future to exercise
its soft-powers in foreign countries. These indices were: (1) FDI62, (2) Total reserves63,
and (3) Current Account balances64.
China led all indices; USA came in second, third and alarming last place
respectively. On reserves, China amassed three trillion USD in eight years; almost 600
percent than US reserves (Indicators: Total Reserves, 2013). But it’s The Current-
Account Balance Index that exposed USA’s massive deficit (-$440 billion) placing it by
vastly behind the rest of the world.
60 In addition to Brazil’s organic growth, the discovery of major offshore oil reserves will significantly propel the country’s
economy in the next few years (BBC News, 2012).
61 The highest GDP/capita in the world ($89,735) compared to US’ $49,853 (The World Bank, 2013)
62 These are net inflows of investment to acquire a lasting management interest of ten percent or more of voting stock in
an enterprise operating in foreign economy.
63 Total reserves comprise holdings of monetary gold, special drawing rights, reserves of IMF, and holdings of foreign
exchange under the control of monetary authorities.
64 Current account balance is the sum of net exports of goods and services, net primary income, and net secondary income
III- ECONOMICS
See figures below

17. 17 Katerji
Foreign direct investment (FDI)
Source The World Bank:
Total Reserves
Source The World Bank:
Source The World Bank:
Current account balance (BoP, current US$)

18. 18 Katerji
This microeconomic index I argue is of paramount importance. Since early last century,
US entrepreneurs [including media entrepreneurs such as Walter Disney, Harry, Sam,
Jack and Albert Warner as well as Bertie C. Forbes]65 has ‘play[ed] a vital role in the
growth of the U.S. economy’ (United States Bureau of Labour Statistics, 2010).
Today, Aisa’s [particularly China’s] entrepreneurial spirit could best be captured in the
fact that 90 percent of its billionaires are self-made (highest in the world) and the
world’s youngest (Wealth-X & UBS, 2013).
See table below:
Moreover, in 2013 Asian Billionaires’ wealth grew 13% (the highest in the world)
compared to 2.4 % in North America (Zeveloff, 2013). See Appendix-F
It’s also forecasted that Asia’s billionaires will catch up with North America by 2018
(Ahmad & Chan, 2013). 66.
To conclude, globalization may have expanded USA’s available marketplace from
its own domestic market to other countries’ domestic markets. But since those markets
are finite, and [my] findings suggest that media-contraflows have the ingredients to
expand; contraflow expansion can only come at the expense of US media expansion -
rendering US media’s growth-rates still achievable, but can only be at waning rates.
65 Whose names are still named after prominent media enterprises
66 According to the Wealth-X and UBS Billionaire Census, 2013, China’s 157 billionaires in 2013 have accumulated a total
Net-Worth of US$384 Billion; only second to US with 515 billionaires with net-worth of about US$2 trillion. Chinese
billionaires are on average also nine years younger than the global average and 12 years less than US billionaires’ average
age.
ENTREPRENEURSHIP
Country Avg. Age Source
China 53 Wealth-X
HongKong 65 Forbes
USA 65 Wealth-X
India 63 Forbes
Brazil 66 Forbes
Japan 69 Forbes
Korea 57 Forbes
World 62 Wealth-X
See more in note

19. 19 Katerji
SUMMARY
WORKS CITED
Ahmad, F., & Chan, F. (2013, November 6). Media Press Release: First Global Census Shows
Record of 2,170 Billionaires Worldwide. Retrieved December 22, 2012, from Wealth-X:
http://www.wealthx.com/articles/2013/first-global-census-shows-record-of-2170-
billionaires-worldwide/
Al-Jazeera. (2012, April 16 ). About Us: Corporate Profile. Retrieved December 24, 2013, from
Al-Jazeera English:
http://www.aljazeera.com/aboutus/2006/11/2008525185555444449.html
Al-Jazeera America. (2013, December 6). About Al Jazeera America. Retrieved December 24,
2013, from Al-Jazeera America: http://america.aljazeera.com/tools/about.html
Altheide, D. (1984). Media Hegemony: A Failure of Prespective. Public Opinion Quarterly 48,
476-490.
So far I argued that Cultural imperialism of US is not the doing of private US
enterprise alone. The US government through domestic policy, multinational
agreements and International organizations has helped create favorable conditions
for conglomerates to expand globally. With immense resources, expertise,
consolidation, technology optimization, localization and FDIs, US media
conglomerates are estimated to continue dominating the global media landscape.
But there will be caveats.
Media contraflows in the past few decades have risen and are contending for a piece
of the media market-share. The most prominent are 24/7 news channels like Al-
Jazeera, and to a lesser extent CCTV; Japanese anime and manga as well as both
Japanese/Korean Drama and pop culture; Brazilian Telenovelas, and finally the
Indian Film Industry as well as Diasporic contraflows.
I examined a set of metrics also suggested -due to space constraints- a set of
18 indices that further encapsulate why these contraflows in the future will to
progressively challenge US media conglomerates and outpace their growth rates.
The political, technical and economic findings were consistent with maintenance of
US media conglomerates dominance but suggests that this would only be attained a
diminishing rate from heron.
Media contraflows in the past few decades have risen and are contending for a
piece of the media market-share. The most prominent genres are 24/7 new-
channels, Japanese Anime and Manga as well as Japanese/Korean Drama and
Pop culture; Brazilian Telenovelas, and finally the Indian Film Industry as well as
Diasporic contraflows.
I examined a set of metrics and also suggested in Appendix-I a set of 18 metrics
that further encapsulates why these contraflows in the future will progressively
challenge US media conglomerates and outpace their growth rates.
The political, technical and economic findings do not suggest US media’s
dominance will do away rather that this would only be attained at a diminishing
rate from hereon.

20. 20 Katerji
BBC News. (2012, August 14). Brazil country profile. Retrieved December 21, 2013, from BBC
News:
http://news.bbc.co.uk/1/hi/world/americas/country_profiles/1227110.stm#media
Booz & Co. (2013). Media & Entertainment: Key trends. Booz & Co.
Boyd-Barrett, O. (2006). Cyberspace, globalization and empire. Global Media and
Communication 2, 21-41.
Carragee, K. (1993). A Critical Evaluation of Debates Examimng the Media Hegemony Thesis.
Western Journal of Communication, 57, 330-348.
Central Intelligence Agency. (2011). Librarry: the World FactBook: North Korea. Retrieved 12
23, 2013, from CIA: https://www.cia.gov/library/publications/the-world-
factbook/geos/kn.html
Central Intelligence Agency. (2013). CIA. Retrieved December 24, 2013, from Library: CIA
FactBook: China: Population: https://www.cia.gov/library/publications/the-world-
factbook/geos/ch.html
Central Intelligence Agency. (2013). The World FactBook: Country comparison: current account
balance. Retrieved December 22, 2013, from CIA.gov:
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html
Chadha, K., & Kavoori, A. (2000). Media imperialism revisited: some findings from the Asian
case. Media Culture Society 22, 415-432.
Chan-Olmsted, S. M., & Chang, B.-H. (2003). Diversification Strategy of Global Media
Conglomerates: Examining Its Patterns and Determinants. JOURNAL OF MEDIA
ECONOMICS, 16(4), 213–233.
china.org.cn. (2007, Oct 15). Hu Jintao's report at 17th Party Congress. Retrieved 12 19, 2013,
from china.org.cn: http://www.china.org.cn/english/congress/229611.htm
Comer, E. (1997). The re-tooling of American hegemony. In O. Boyd-Barret, Media in Global
Context (pp. 194-206). London, UK: Hodder Education.
Comer, E. (2004). The re-tooling of American hegemony. In O. Boyd-Barret, Media in Global
Context (pp. 194-206). London, UK: Hodder Education.
Comor, E. A. (2008). Consumption and the Globalization Project: International Hegemony and
the Annihilation of Time (International Political Economy) . Palgrave Macmillan.
Confederation of Indian Industry. (2012). India Entertainment and Media Outlook 2012. New
Delhi: Confederation of Indian Industry.
Cowen, T. (2012). Why Hollywood Rules the World and Why We Should Care. In F. J. Boli, The
Globalization Reader Fourth Edition (pp. 379-385). W. Sussex, UK: Wielly-Blackwell.
Curtin, M. (2003). Media Capital: towards the study of spatial flows. International Journal of
Cultural Studies 6(2), 202-227.

21. 21 Katerji
Dreher, A., & Jensen, N. M. (2007). Independent Actor or Agent? An Empirical Analysis of the
Impact of U.S. Interests on International Monetary Fund Conditions. Journal of Law and
Economics, Vol. 50, No. 1 , 105-124.
Easterly, W. (2006). The White Man's Burden: Why the West's Efforts to Aid the Rest Have Done
So Much III and So Little Good. New York: Penguin Press.
Fabrikant, G. (1990, November 27). Business Day. Retrieved December 24, 2013, from NewYork
Times: http://www.nytimes.com/1990/11/27/business/the-deal-for-
mca.html?pagewanted=all&src=pm
Fairclough, G. (2005, October 20). News: Korea's Makeover From Dull to Hip Changes Face of
Asia. Retrieved 12 23, 2013, from Wall Street Journal:
http://online.wsj.com/news/articles/SB112975900267673643
Fallows, J. (2012). China Makes; the World Takes. In F. Lechner, & J. Boli, The Globalization
Reader- 4th edition (pp. 343-351). UK: WIELEY-BLACKWELL.
Fleck, R., & Kilby, C. (2006). World Bank Independence: A Model and Statistical Analysis of US
Influence. Review Of Development Economics, 10(2), , 224-240.
Forbes. (2013, March). The World's Billionaires: Brazil. Retrieved December 22, 2013, from
Forbes.com:
http://www.forbes.com/billionaires/list/#page:1_sort:0_direction:asc_search:_filter:All
%20industries_filter:Brazil_filter:All%20states
Forbes. (2013, March). The World's Billionaires: India. Retrieved December 23, 2013, from
Forbes.com:
http://www.forbes.com/billionaires/list/#page:1_sort:0_direction:asc_search:_filter:All
%20industries_filter:India_filter:All%20states
Fortune. (2013). Retrieved December 26, 2013
Georgiou, M., & Silverstone, R. (2007). Diasporas and contra-flows beyond nation-concentrism.
In D. K. Thussu, Media on the Move (pp. 33-48). UK: Routledge.
Giddens, A. (1997). The Globalizing of Modernity. In O. Boyd-Barrett, Media in Global Context
(pp. 19-26). London, UK: Hodder Education.
Govil, N. (2007). Bollywood and the frictions of global mobility. In D. K. Thussu, Media on the
Move: Global Flow and contra-flow (pp. 84-98). UK: Routledge.
Hagey, K., & Gryta, T. (2013, August 20). Business: Al Jazeera Sues AT&T for Dropping New
U.S. Channel. Retrieved December 24, 2013, from WallStreet Journal:
http://online.wsj.com/news/articles/SB100014241278873236085045790255625806329
96
Hawkins, R. (1997). Prospects for Global Communication Infrastructure in the 21st Century:
institutional restructuring and network development. In O. Boyed-Barret, Media in
Global Context (pp. 177-193). London, UK: Hodder Education.

22. 22 Katerji
Jacobson, R. (2012, January 25). The Rubdown: The Power of the Telenovela. Retrieved
December 25, 2013, from PBS Newshour:
http://www.pbs.org/newshour/rundown/2012/01/the-power-of-the-telenovela.html
James, M. (2011, April 15). Business: ABC ending soaps 'All My Children' and 'One Life to Live'.
Retrieved December 25, 2013, from Los Angeles Times:
http://articles.latimes.com/2011/apr/15/business/la-fi-ct-soaps-20110415
Joo, J. (2011). Transnationalization of Korean Popular Culture and the Rise of ‘‘Pop Nationalism’’
in Korea. The Journal of Popular Culture, Vol. 44, No. 3,, 489.
Kim, Y. (2007). The rising East Asian "Wave". In D. K. Thussu, Media on the Move: Global Flows
and Contra-Flows (pp. 135-152). UK: Routledge.
Koichi, I. (2007). Contra-flows or the cultural logic of an uneven globalization? In D. K. Thussu,
Media on the Move (pp. 67-83). New York: Routledge.
Lafi Youmans, W. (2012). The media economics and cultural politics of Al-Jazeera English in the
United States. A dissertation submitted in partial fulfillment of the requirements for the
degree of Doctor of Philosophy. Ann Arbor, Michigan, USA.
Li, S. (2013). Propagating China to the World: China’s “Public Diplomacy through Media”
Strategy in the Age of Globalization. Gnovis Georgetown University’s peer-reviewed
Journal of Communication, Culture & Technology Vol. XIII Issue II.
Lovink, G. (2004). Uncanny Networks: Dialogues with the Virtual Intelligentsia. Boston, USA:
Massachusetts Institute of Technolgy (MIT).
Lucaites, J. L., Condit, C. M., & Caudill, S. (1999). Contemporary Rhetorical Theory: A Reader.
NewYork, USA: Guilford Press.
McChesney, R. W. (1999). The new global media. The Nation, 11–15.
McCurry, J. (2009, April 10 ). World News. Retrieved December 24, 2013, from The Guardian:
http://www.theguardian.com/world/2009/apr/10/japan-manga-anime-recession
Miles, H. (2006). Al-Jazerera: How Arab TV News Challenged the World. London: ABACUS.
Montessori, N. (2011). The design of a theoretical, methodological, analytical framework to
analyse hegemony in discourse. Critical Discourse Studies 8.3, 169-181.
Morley, D. (2000). Home Territories: Media, Mobility and Identity. London & NewYork:
Routledge.
Mosco, V. (2001). Living On in the Number One Country: The Legacy of Herbert I. Schiller.
Journal Of Broadcasting & Electronic Media, 45(1), 191-199.
Nash, E. (1997, May 7). World: Brazil's soaps wash away the mother tongue of Portugal.
Retrieved December 25, 2013, from The Independent:
http://www.independent.co.uk/news/world/brazils-soaps-wash-away-the-mother-
tongue-of-portugal-1260153.html

23. 23 Katerji
Neubauer, R. (2011). Neoliberalism in the Information Age, or Vice Versa? Global Citizenship,
Technology, and Hegemonic Ideology. TripleC (Cognition, Communication, Co-
Operation) 9(2), 195-230.
NewYork Times. (1989, September). Business Day. Retrieved December 24, 2013, from NewYork
Times: http://www.nytimes.com/1989/09/28/business/sale-to-sony-approved-by-
columbia-pictures.html?gwh=8C91715FA6E8BF0C719884C71DC3163B&gwt=pay
Nye, J. (2004). Soft Power: The Means to Success in World Politics. Public Affairs.
OECD. (2012, 11 9). Newsroom: Balance of economic power will shift dramatically over the next
50 years, says OECD. Retrieved December 12, 2013, from OECD:
http://www.oecd.org/newsroom/balanceofeconomicpowerwillshiftdramaticallyoverthen
ext50yearssaysoecd.htm
PricewaterhouseCooper. (2011). India Entertainment and Media Outlook 2012.
PricewaterhouseCooper.
PriceWaterhouseCooper. (2013). 2013 Deal insights for the Entertainment, Media and
Communications industries. NY: PwC.
PriceWaterhouseCooper. (2013). Global CEO Survey: Enetrtainment and Media. Retrieved
December 12, 2013, from PriceWaterhouseCooper: http://www.pwc.com/gx/en/ceo-
survey/2013/industry/entertainment-and-media.jhtml
Prime News. (2008, July 7). The Korean wave sight - "HALLYUWOOD THEME PARK"
beginning. Retrieved December 19, 2013, from primenet.co.kr:
http://web.primenet.co.kr/eng/primenews/primenews_view.html?no=169
Rantanen, T. (2007). Flows and conta-flows in transitional societies. In D. K. Thussu, Media on
the Move (pp. 165-181). UK: Routledge.
Rego, M., C., & La Pastina, A. C. (2007). Brazil and the Globalization of telenovelas. In D. K.
Thussu, Media on the Move (pp. 99-115). NewYork: Routledge.
Reuters. (2013, March 4). Factbox: Record number of billionaires make Forbes 2013 list.
Retrieved December 22, 2013, from Reuters:
http://uk.reuters.com/article/2013/03/04/us-billionaires-list-factbox-
idUSBRE9230EJ20130304
Reynolds, D. (1997). The European Response. Foreign Affairs, 76(3), 171-184.
Richards, C., & Margolis, L. (2004, May 5). US: Outsourcing Threatens One in Six Jobs in Silicon
Valley. Retrieved December 22, 2013, from World Socialist Web Site:
http://www.wsws.org/en/articles/2004/05/sili-m05.html
Sakr, N. (2007). Challenger or Lackry: The politics of news on Al-Jazeera. In D. K. Thussu, Media
on the Move (pp. 116-131). West Sussex, UK: Routledge.
Schiller, D. (1996). Theorizing Communication : A History. NewYork: Oxford University Press.
Shanker, T. (2007, Nov 26). Washington. Retrieved December 19, 2013, from NewYork Times:
http://www.nytimes.com/2007/11/27/washington/27gates.html?_r=0

24. 24 Katerji
Skinner, J. (2010). Book Review: Edward A. Comor, Consumption and the Globalization Project
International Hegemony and the Annihilation of Time. Hampshire: Palgrave Macmillan,
2008. Media Culture Society 32, 164-166.
Slaughter, M. J. (2009). How U.S. Multinational Companies Strengthen the U.S. Economy. The
United States Council Foundation and Business Roundtable.
Soroka, S. N. (2012). "The Gatekeeping Function: Distributions Of Information In Media And The
Real World.". Journal Of Politics 74.2 , 514.
Spiegel, B., & De La Hoz, O. (2013). 2013 Deal insights for the Entertainment, Media and
Communications industries 2013 Outlook & Analysis of 2012 US deal activity. NewYork:
PriceWaterhouseCooper.
Spiegel, B., Same, I., & Atal, S. (2013). US entertainment, media & communications deal. PwC.
Sullivan, D., & Jiang, Y. (2010 ). MEDIA CONVERGENCE AND THE IMPACT OF THE
INTERNET ON THE M&A ACTIVITY OF LARGE MEDIA COMPANIES. Journal of
Media Business Studies 7(4), 21-40.
Tang, W., & Iyengar, S. (2011). The Emerging Media System in China: Implications for Regime
Change. Political Communication, 28, 263–267.
Teer-Tomaselli, R., Wasserman, H., & de Beer, A. (2007). South Africa as a regional media power.
In D. K. Thussu, Media on the Move (pp. 153-164). UK: Routledge.
The Guardian. (2012, September 2012). News: US debt: how big is it and who owns it? .
Retrieved December 20, 2013, from The Guardian:
http://www.theguardian.com/news/datablog/2011/jul/15/us-debt-how-big-who-
owns#data
The Ministry of Overseas Indian Affairs. (2009). India and its Diaspora. Retrieved December 28,
2013, from moia.gov.in: http://moia.gov.in/accessories.aspx?aid=10
The World Bank. (2013). Data: Charges for the use of intellectual property, receipts (BoP,
current US$). Retrieved December 21, 2013, from The World Bank:
http://data.worldbank.org/indicator/BX.GSR.ROYL.CD/countries/US-BR-DE-JP-GB-
KR-CN?display=graph
The World Bank. (2013). Data: Indicator GDP (Current USD). Retrieved Decemeber 27, 2013,
from The World Bank:
http://data.worldbank.org/indicator/NY.GDP.MKTP.CD/countries/US-CN-DE-GB-FR-
JP-BR?display=graph
The World Bank. (2013). Data: Indicators: Qatar and USA GDP/Capita (2011). Retrieved 12 20,
2013, from The World Bank:
http://data.worldbank.org/indicator/NY.GDP.PCAP.CD/countries/QA-
US?display=graph
The World Bank. (2013). Indicators: Total Reserves. Retrieved 12 22, 2913, from The World
Bank: http://data.worldbank.org/indicator/FI.RES.TOTL.CD/countries/QA-US-BR-IN-
KR-CN-JP?display=graph

25. 25 Katerji
Thomas, E. (2011, May 20). Telenovelas: a Brazilian passion. Retrieved December 25, 2013, from
InaGlobal: http://www.inaglobal.fr/en/television/article/telenovelas-brazilian-passion
Thussu, D. K. (2007). Mapping Global Media Flows and Contra Flows. In F. Lechner, & J. Boli,
The Globalization Reader- Fourth Edition (pp. 353-357). West Suusex, UK: Wiley-
Blackwell.
Thussu, D. K. (2012). Mapping Global Media Flow and Contra Flow. In F. J. Boli, The
Globalization Reader (pp. 352-357). West Sussex, UK: WILEY-BLACLWELL.
United Nations. (2013). International Migration Department of Economic and Social Affairs.
New York: United Nations.
United States Bureau of Labour Statistics. (2010). Entrepreneurship and the U.S. Economy.
Retrieved December 31, 2013, from BLS.gov:
http://www.bls.gov/bdm/entrepreneurship/entrepreneurship.htm
US Department of Commerce. (2013). Cross-Border Trade in 2012 and Services Supplied
Through Affiliates in 2011. Bureau of Economic Analysis.
Wanta, W., Golan, G., & Lee, C. (2004). Agenda Setting And International News: Media Influence
On Public Perceptions Of Foreign Nations. Journalism and Mass Communication
Quarterly Vol 81 No. 2 , 364-375.
Wealth-X & UBS. (2013, November 19). Media Press Releases: China’s Billionaire’s Are The
Youngest In The World. Retrieved Decemeber 22, 2013, from Wealth-X:
http://www.wealthx.com/articles/2013/chinas-billionaires-are-the-youngest-in-the-
world/
Wealth-X and UBS. (2013, November 6). Media Press Release: First Global Census Shows
Record of 2,170 Billionaires Worldwide. Retrieved December 22, 2013, from Wealth-X:
http://www.wealthx.com/articles/2013/first-global-census-shows-record-of-2170-
billionaires-worldwide/
White, M. (2012). 15th CEO Survey . (R. a. PricewaterhouseCooper, Interviewer)
Xinhua. (2012, March 11). Reforms urged to attract overseas Chinese. Retrieved December 28,
2013, from china.org.cn: http://www.china.org.cn/china/NPC_CPPCC_2012/2012-
03/11/content_24865428.htm
Yong Jin, D. (2007). Reinterpretation of cultural imperialism: emerging domestic market vs
continuing US dominance. Media Culture Society 29, 753-771.
Zeveloff, J. (2013, November 26). Here's Where Billionaire Wealth Is Growing Fastest Around
The Globe [MAP]. Retrieved December 18, 2013, from Business Insider:
http://www.businessinsider.in/Heres-Where-Billionaire-Wealth-Is-Growing-Fastest-
Around-The-Globe-MAP/articleshow/25335682.cms
APPENDICES

26. 26 Katerji
http://www.pwc.com/gx/en/ceo-survey/2013/industry/entertainment-and-media.jhtml

27. 27 Katerji
http://www.uscib.org/docs/foundation_multinationals.pdf
1
Source: Business Roundtable & USCF

28. 28 Katerji
(United Nations, 2013)
Department of Economic and Social Affairs
Population Division

29. 29 Katerji
http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt
US foreign debt (US Treasury)Appendix- B

30. 30 Katerji
http://www.oecd.org/newsroom/balanceofeconomicpowerwillshiftdramaticallyoverthenext50yearssaysoecd.htm

31. 31 Katerji
http://www.luxurydaily.com/global-billionaire-net-worth-rises-5-3pc-in-2013-report/

32. 32 Katerji
Country
E&M market
($ Billion)
GDP ($Billion)
Market as % of
GDP
South Korea 34 1116 3.1%
Japan 173 5867 2.9%
US 363 15094 2.4%
Brazil 35 2477 1.4%
China 89 7318 1.2%
India 17 1848 0.9%
PriceWaterhouseCooper(PwC) 2011 Entertainment and Media (E&M) Outlook

33. 33 Katerji