Revista Internacional de Economia e Ciências de Gestão

Multinational Corporations: Myths and Realities

Abstract

Mohammad Saif Ahmad

The 17th and 18th centuries gave birth to a number of multinational trading companies that played crucial role in the commercial and industrial development of Asia, Latin America and Africa. In the Post-World War II era, establishment of International Monetary Fund, World Bank and General Agreement on Tariffs and Trade gave further flip to global trade and led to more closely linked world markets. During the last five decades or so the MNCs have grown so much in power and visibility that they have come to be viewed with increasing suspicion both by national and international entities. Despite their unquestionable contributions, certain abuses have occurred in the process. Continuously worrying concern is that the current MNC-led globalization has been emphasizing economic integration while justice, mutual help and cooperation – pre-requisites for integrating mankind – are being ignored.