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To operate efficiently, the new industries required heavy capital investment in large-scale units. Accordingly, they encouraged the development of capital markets and banking institutions that were large and flexible enough to finance the new enterprises. The larger capital markets and industrial enterprises, in turn, helped push forward the geographic scale of operations of the industrialized nations: more capital could now be mobilized for foreign loans and investment, and the bigger businesses had the resources for the worldwide search for and development of the raw materials essential to the success and security of their investments. Not only did the new industrialism ...(100 of 29631 words)