John Baylis et al. (2011) comments on how $2 trillion is exchanged in the foreign market exchange every single day, this exchange goes on between transnational corporations. A transnational corporation has its headquarters in one country and operates partially or wholly owned subsidiaries in one or more other countries an example of a transnational corporation would be Google, whose main headquarters are in Mountain View California but they have multiple offices around the world such as Dublin. Huge transnational corporations (TNCs hereafter) estimated to account for one quarter to one third of all world output, 70% of all of the world’s trade and over 80% of the world’s investment. These figures given are proof that these transnational corporations are the key figure in the world’s economy that controls the location and distribution of all economic and technological resources the world provides.
These TNCs only began to increase their wealth in the 1980s and 1990s when they sought to increase their share into the world market. This was exercised by moving their capital from country to country according to Baylis et al. (2011). TNCs are the dominant figures in the world’s economy because of the about of net worth they entail. Globalization is the core of what TNCs execute because they are so wealthy that in terms of resources they rival the state and rules of international trade. Domestic economic policies have been changed drasticall...
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Dybas. C.L (2008) ‘Climate, Environment, and Infectious Diseases: A Report from the AIBS 2008 Annual Meeting’, BioScience, Vol. 58 (No. 9). Available from: http://www.jstor.org/stable/10.1641/B580903 [Accessed 12 March 2014]
Gardiner, S.M, (2004) ‘Ethics and Global Climate Change’, Chicago Journals, Vol. 114 ( No. 3), Available from: http://www.jstor.org/stable/10.1086/382247 [Accessed 12 March 2014]
International Labor Organization (2014) Global Wage Report. Available at: http://www.ilo.org/wcmsp5/groups/public/@dgreports/@dcomm/documents/publication/wcms_100786.pdf (Accessed 14 March 2014)
John Baylis, Steve Smith, Patricia Owens (2011) The Globalization of World Politics: An Introduction to International Relations.Oxford: Oxford University Press.
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