Only global corporations can succeed in todays highly globalised world market?
is this true, use exmales© BrainMass Inc. brainmass.com March 4, 2021, 6:08 pm ad1c9bdddf
Transnational Corporations exert a great deal of power in the globalized world economy. Many corporations are richer and more powerful than the states that seek to regulate them. Through mergers and acquisitions corporations have been growing very rapidly and some of the largest TNCs now have annual profits exceeding the GDPs of many low and medium income countries.
Since the origins of states several thousand years ago, monarchs and governments have regularly created rules for economic activity, responding to citizen demands and seeking to create a more just and harmonious society. The modern nation state followed in this long tradition. Citizens increasingly called for new and stronger rules to protect them in the era of laissez faire, nationally-based capitalism - rules that would restrict investors and companies in order to prohibit child labor, guarantee healthy foods and drugs, assure the safety of rail and air transportation, and promote the stability of banks and financial markets. Some called for the state to assume even wider economic responsibilities through direct state management of firms in order to better impose social priorities.
Regulatory initiatives did not stop at national borders. As early as the mid-nineteenth century, European governments saw the need to establish rules at an "international" (that is, largely Western European) level. Intergovernmental conferences in the second half of the century considered many such issues. Some were primarily of concern to investors, such as standardization and interconnection of railways and ...