The international flow of news has traditionally been dominated by that from North to South, with the West being at the core. Within the West itself, news flow is dominated by Anglo-American media, a situation which has its roots in the way that journalism developed historically. The historical context of global news begins with the introduction of the telegraph and undersea cables in the nineteenth century, which created a global market for news. Major players emerged—including news agencies—and shaped the transnational news flows. What emerges is that, in all ages, key innovations in transnational news flows have been closely linked to commerce, geopolitics, and war, from the telegraph to online news outlets. The increasing availability and use of news media, from major non-Western countries, are now affecting transnational news flows. Global journalism has been transformed in the digital age by internet-based communication and the rise of digital media opportunities—allowing for multi-directional news flows for growing global news audiences.
Daya Kishan Thussu
The role of foreign correspondent has long been prominent in journalism but is undergoing considerable change. While many in this role are considered elite, and have a very high profile, others practice their reporting in anonymous and sometimes precarious conditions. Prominent types of foreign correspondent are the capital correspondent, bureau chief, and conflict correspondent. Conflict correspondents can, in turn, be categorized into three main types depending on how they perceive their role: the propagandist; the recorder of history; and the moralist. The role of foreign correspondent has been the subject of a great deal of research, including analyses of news content focused on the nature of bias and story selection and framing in international reporting, and observational and interview-based studies of practitioners of the role. Research has sought to shift the focus from elite correspondents for international media organizations to the myriad local media professionals who play an increasing role in shaping international news stories; to the move toward social media as a newsgathering and news-dissemination tool; to the safety of journalists—as their work becomes increasingly imperiled around the world; and to the vital but largely hidden role of news agencies in shaping international news.
Levi Obijiofor and Folker Hanusch
Two dominant approaches underline the theory, practice, and methodology of global journalism. The first approach captures the various ways that journalism is practiced in different countries. This is reflected in the burgeoning field of comparative journalism studies. The second approach examines the underlying notion of globalization of the interconnected nature of the world and of global journalistic practices that not only relativize the significance of the nation state but also highlight the forces that shape the global village. Each of these perspectives has implications for journalism practice and how the world is understood. Each is influenced by complexities of the existing environment in which journalism is practiced, such as sociocultural practices and barriers, as well as economic, institutional, structural, legal, and political forces that inform journalism at national and international levels. Regardless of the differences, the two approaches are interrelated in various ways. They examine the interlocking relationship between journalism and globalization; factors that influence global news flows and foreign reporting; diverse journalistic practices and modes of education; and global journalism ethics. Altogether these perspectives provide rich analytical insights and background into the past, current, and emerging issues that inform global journalism.
On a fundamental level, financial journalism provides information to individuals that helps them make informed economic choices, and understand how those choices impact their financial situation within the context of the broader political economy. The need for reliable information about prevailing business conditions has been recognized since the dawn of commerce, and since then financial journalism and commerce have developed together in a mostly symbiotic, albeit occasionally combative, relationship for hundreds of years. In its earliest iterations, in the 16th century, financial journalism consisted of little more than the publication of prices of commodities or other goods for sale. As trade and commerce expanded over the following centuries, so did the role and content of financial journalism. The globalization of commerce and increasing integration of the world economy since the late 20th century has increased the importance of financial journalism, while the spread of mass-market investment opportunities and defined-benefit retirement accounts in many countries has expanded the pool of individuals exposed to moves in financial markets, helping to make financial publications among the world’s most-read newspapers and websites. The focus of financial journalism is quite consistent no matter what country or language it is published in: broadly defined, financial journalism encompasses news about financial markets, macroeconomic data and trends, government economic policy, corporate news (especially earnings announcements), personal finance, and commentary about all of the above. However, the often mutualistic relationship between financial journalism and the organizations it covers has led to conflicts of interest, and to a debate over the proper role of a financial press: whether it is to merely disseminate data and information from those organizations, or to serve as a watchdog over them. For example, the bubble in internet-related shares in the 1990s was blamed partly on “boosterism” by the financial media, while many investors also blamed the financial press for failing to sound the alarm ahead of the Global Financial Crisis later in the following decade.