Multinational Corporations,MNCs, Multinational Companies

Wed, 09/14/2011 - 10:11 -- Umar Farooq

In the World’s 100 largest economic entities twenty nine 29 are Multinational Corporations (MNCs). Among these entities, Exxon Mobile is on 45th which is sandwiched between the economies of Pakistan and Chile.

Multinational Corporations MNCs have grown faster than national economies in recent years in 1990 they accounted for only 3.5 percent of the world’s GDP, but by 2000 this figure had risen to 4.3 percent. The scope of Multinational Corporation activity has increased over the past two decades as states have deregulated their economies by removing barriers to foreign investment, and functions traditionally performed by state have been devolved to corporations through privatization, for example in the telecommunications and energy sectors.

In the natural resource sector, oil companies such as BP, Shell and Exxon Mobil operate wherever oil and gas are to be found, BP alone operates in more than 100, countries. Mining companies such as Anglo American and Rio Tinto extract gold, copper and other minerals in Namibia, South Africa, Zimbabwe, India, Russia, Brazil, Chile, Peru and many other countries. Supermarkets such as Asda, Tesco and Sainsbury's, clothing retailers including Marks & Spencer and Next, and electronics manufacturers such as IBM, Hewlett Packard and Dell source their products from around the world T-shirts and prawns come from Bangladesh, shirts and laptop computers from China, flowers from Kenya, wine from South Africa and trousers from Turkey Marks & Spencer alone sources its goods from over 70 countries.

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