After Liberalisation: A Vision of Europe in the Global by Christopher J. S. Gentle (auth.)

By Christopher J. S. Gentle (auth.)

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The growing power and influence of TNCs is manifesting itself in two key ways: large TNCs are becoming increasingly dominant in market power; and the techno-organisational revolution that is sweeping through businesses of aU sizes has increased the power of TNCs. 28 After Liberalisation THE RISE AND RISE OF TRANS-NATIONAL CORPORATIONS The rise and rise of TNCs has been dramatic over the last few decades. The importance of large firms is illustrated by the growth in turnover of the largest 200 TNCs compared with economic growth rates in the world's major economies.

The helpline number is a local toll-free or low-cost call, which unknown to the caller can be routed to an international call-centre. Call line identification technology allows the operator in the call centre to know which country the call originated from and to prepare the correct greeting: be it 'Good Morning'; 'Hola'; or 'Pronto'. Hewlett Packard, the US computer manufacturer, operates such a set-up with a callcentre in Holland staffed by 200 personnel. Clearly, TNCs play a key role in forging new patterns of economic development.

THE UNACCEPTABLE CONSEQUENCES OF LIBERALISATION The final part of this chapter demonstrates that liberalisation has a number of unacceptable side-effects. The rise and rise of the global economy is one of the great achievements of the late twentieth century. The forging together of a single world market for a growing number of goods and services is equated with an upward improvement in the standard of living of everyone - first world and third world citizens alike. The linking together of markets, companies and cities in a global web in which capital has an unfettered flow is widely considered a unanimous success.

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