Globalization And Transnational Corporations: Ethics And Global Climate Change

1058 words - 4 pages

The term 'globalization' has been subjected to a variety of interpretations. Though at its simplest it can be seen as how the world has become integrated economically, politcally, socially and culturally through the advances of technology, communication and transport John Baylis et al. (2011).
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 drastically across the world to accommodate the need of these TNCs to need their needs of free flow of capital, technology and profit across national boundaries.

As I’ve previously noted globalization is circled mainly around economy, both local economy and international. The international economy has been substantially restructured to remove restrictions on free flow of capital. International economic and trade organisations like the International Monetary Fund (IMF), the World Bank and the World Trade Organisation are advocating and controlling this process of restructuring. The politics of the states are modified to meet the requirements of these organisations also. The deliberating, in these institutions can be influenced greatly by 'neoliberal' ideas.
These ‘neoliberal’ ideas gained huge popularity in the both the U.S.A and the UK in the 1980s. These ‘ideas’ came to replace the ideas of welfare stats. What many people view neoliberal’s as are a new version of individualism. During the process of globalization neoliberal policies are being implemented in the underdeveloped countries.
According to Naim (2009) religion benefits from globalization because of the increased interest that the public will hold in religion when...

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