Globalization

World players - It is hard to appreciate how much power lies with the world's transnational corporations (or multinationals, if you prefer). By their sheer size they have become major world players: sales of Japan's Itochu Corporation exceed the gross domestic product (GDP) of Austria, while those of Mitsui and General Motors exceed the GDP of all sub-Saharan Africa combined. TNCs now control two thirds of all world trade and 80 per cent of foreign investment. …

…code of conduct for TNCs - because of concerted opposition from the governments of USA, Germany, Britain and Japan. Similarly, governments of the rich North continue to push for more overseas investment rights for TNCs, paying little heed to the urgent protests coming from the South. It is now down to ordinary individuals to watch over big business - the good news is that however powerful TNCs may be, they're still afraid of public pressure.