Tag Archives: free trade

What are Transnational Corporations?

Introduction – Definition and Scale of TNCs Transnational Corporations are businesses that operate across international borders, though most of them have their headquarters in the USA, Europe and Japan. There were about 7000 TNCs operating in 1970, but the charity … Continue reading

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Arguments for Transnational Corporations in Development

Modernisation theory saw TNCs as playing a positive role in helping societies to develop. Rostow (1971) saw the injection of capital as essential in the pre-conditions for take-off phase of development, and he thought TNC’s were one of the institutions … Continue reading

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The Role of the World Trade Organisation in International Development

The World Trade Organisation (WTO) is the body through which governments and businesses (mainly TNCs) negotiate the rules of trade, and settle trade disputes once these rules have been established. The concept of the WTO first began with the 1947 … Continue reading

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Arguments Against Trade as a Strategy for Development

Andre Gunder Frank (1971) argues that the reason trade doesn’t work for poor countries is a legacy of colonialism – before independence, the colonizing power simply took these commodities. After independence, developing societies are often still over-dependent on exporting these … Continue reading

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