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Multinational Corporations - Coggle Diagram
Multinational Corporations
China
Shifting emphasis from agriculture to industry
Creation of special economic zones
Encouragement of foreign direct investment
Fewer government restrictions of the economy
Special Economic Zones
Areas of the country where the economic rules are different
For foreign trade and investiment
Regions where private businesses can attract foreign direct investment
Nigeria
Lowered tariffs on imports to join the WTO
Increase in per capita GDP
Become a net importer of food as workers have moved from agricultural jobs to industrial jobs
Environmental and ethnic protests in oil regions due to degradation of land and water and lack of autonomy of people living in these regions
Mexico
NAFTA
Maquiladora zones
American companies can produce in Mexico for cheap
Increased employment, higher wages, broader skills
Has caused considerable migration to the North and created greater cleavages in terms of wealth between north and south
In General
Poor countries that have lowered their tariff barriers have seen overall increases in emplyment and national income because labor and capital shifts to capital generating export industries
In developing countries reduction of poverty has been seen as a result of globalization and foreign direct investment
Foreign investment creates jobs
Groth of middle class
Spread of technology and medicine
Social movements
Environmental concerns
Human rights concerns
MNC have disproportionate power and limited loyalty
the top 10 MNCs have sales figures that are more than the GDP of 170 countries