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Multinational Corporations and Globalization: the Pros and Cons





First, let’s define these two terms. A multinational corporation (MNC) is a large company engaged in international production and, usually, sales. The largest MNCs - also known as MNEs, for multinational enterprises – have production sites in several or even dozens of nations. An MNC typically scans the whole world, or at least substantial regions of the world, for markets, production sites, and sources of raw materials.

Globalization essentially means free movement of goods, services, people, and capital across national borders. This creates global markets for goods, services, labor, and capital. However, the term globalization has also come to mean something more: economic and cultural hegemony on the part of industrial enterprises, such as MNCs, and industrialized nations, particularly the United States. Those who oppose globalization use the term to describe these negative phenomena and to raise the specter of a world controlled by a handful of MNCs.

We are discussing MNCs and globalization together because they are related. An MNC benefits from free movement of goods, services, people, and capital across national borders, just as U.S. companies have benefited from that situation in North America. As a corporation, an MNC has one main objective – to make a profit – and the free movement of goods, services, workers, and capital enhances profitability. It does that by giving management freer access to the factors of production and the ability to make decisions based more purely on cost and revenue considerations.

Also, MNCs promote globalization by their very existence and business practices. When McDonald’s introduces its “customer experience” and its menu, even in modified form, to another culture, it begins to change that culture. When Ford sets up an assembly plant in Brazil, it attracts workers from the countryside and changes their economic aspirations, for better or worse. Similarly, the agenda of the World Bank and the IMF generally favour freer trade – a force for globalization – but many developing nations find free trade to be a mixed blessing.



The key problem in talking about MNCs and globalization, aside from the emotions they stir up, is that they are both creatures of the industrialized world. That is an undeniable fact, whether you oppose or support MNCs and globalization. The poorest nations in the world are not launching MNCs. Given that economically powerful entities rarely aim to benefit the poor, those who oppose MNCs and globalization – regardless of how emotionally they state their case – do have a case.

 

TRANSLATION

A. Translate from English into Russian.

The Real World

Various nongovernmental organizations (NGOs) organize protests against globalization. NGOs typically state that they represent the interests of poor, working, oppressed, and economically disadvantaged people. Critics view them as uninformed elitists, while supporters see them as fighting exploitation and economic injustice. In truth, some NGOs, such as Amnesty International, and the Red Cross, do much to alleviate misery and aid the suffering. Others indeed amount to radical fringe groups.

People from each type of NGO, as well as unaffiliated protesters, have targeted globalization as evil. They have mounted protests in Washington (against the international Monetary Fund and the World Bank), Seattle (against the World Trade Organization), Barcelona (against the European Union), Genoa (against the G-7), and Davos, Switzerland (against the World Economic Forum, which is sponsored by some 1,000 major corporations from across the industrialized world), to name a few.

B. Translate from Russian into English.

Междунаронные кредитные, валютно-финансовые и торговыеорганизацииИз многочисленных организаций занимающихся валютно-финасвыми проблемами можно выделить Всемирный банк, Международный банк реконструкции и развития (МБРР), Международный валютный фонд (МВФ) и другие.Международный банк реконструкции и развития (МБРР) создан всоответствии с Соглашением, подписанным в Бреттон-Вудсе (США) в 1944г. Целями МБРР являются: оказание помощи в реконструкции и развитии государств путем осуществления капиталовложений для восстановления экономики, конверсии, производственных предприятий; оказание содействия частным иностранным инвестициям путём предоставления гарантий или участия в займах и иных капиталовложениях. Штаб-квартира Банка расположена в Вашингтоне.Международный валютный фонд (МВФ)- это специализированное учреждение ООН.

МВФ имеет следующие цели: содействовать международному сотрудничеству путём обеспечения механизма для консультации согласованных действий по международным валютным вопросам, способствовать сбалансированному росту международной торговли и тем самым содействовать высоким уровнем занятости и реального дохода.



 

SPEAKING

 

A.

You are working in a multinational corporation. You are to export the product of your company. Speak with your manager about the formalities and all necessary papers for transportation. You may use the following dialogue as a model. First, scan the dialogue and write down the names of papers necessary for export of goods.

Earl: I just heard from the freight forwarder (1) that our container is going to be picked up tomorrow. We’d better make sure everything is ready to go.
Ted: Let’s see … our general export license is current and the destination control statement (2) has been filed.
Earl: … and the shipping container has the proper markings (3). We also have the certificate of inspection (4).
Ted: We already calculated the weight of the shipment and we know the tare weight(5). Now we just need to subtract it from the gross weight to get the correct net weight.
Earl: We inspected the shipment and know that it’s in good condition, so we should receive a clean bill of lading (6) from the shipping line.
Ted: Well, that sounds like everything. As soon as we receive a copy of the dock receipt(7) we can submit our collection papers (8).

 



 

Notes:

1. freight forwarder – company which prepares shipping and insurance documents, arranges cargo deliveries

2. destination control statement – required statement, listing the authorized export destination for cargo

3. markings –letters, numbers, symbols for identification

4. certificate of inspection – the document which certifies that merchandise was in acceptable condition before being shipped.

5. tare weight – the entire weight of the cargo including the container

6. bill of lading – declaration indicating that all cargo accepted for transportation was in good condition when received.

7. dock receipt – receipt issued by the ocean carrier to acknowledge arrival of the cargo at the carrier’s warehouse or dock facilities

8. collection papers – documents (including bills of lading, invoices, etc.) to the buyer in order to get paid for the shipment.

B.

Discuss the following issues:

1. What is the responsible role for developed nations to play in the economies of less developed nations?

2. What are moral and ecological implications of using huge earth resources to sustain the levels of production and growth?

3. What constitutes a sustainable growth?

4. How much can and should NIC rely on foreign borrowing?

5. How much money for capital investment can NICs reasonably expect to generate themselves?

6. What is your opinion of the classification of nations into developed, newly developed and developing ones? Can you think of another principle of classification?

 

VOCABULARY

 

alleviate v – ослаблять, смягчать

~ benefits уменьшать льготы

~ economic crisis смягчать экономический кризис

APEC Asia-Pacific Economic Cooperation – экономическое сотрудничество стран АТР

coherent policy –последовательная, согласованная политика

devaluation n – обесценивание, девальвация

dislocation n – нарушение, расстройство

elitist n – человек, принадлежащий к элите

European Union (EU) – Европейский союз

export-oriented – ориентированное на экспорт

fringe groups – группы, не пользующиеся поддержкой

global adj – глобальный, всемирный, мировой

~market – мировой рынок

~economy – мировая экономика

globalization n – глобализация

Group of Seven G-7 – Большая семерка

Group of Eight G-8 – Большая восьмерка

hegemony n – гегемония, господство

economic ~ – экономическое господство

cultural ~ – культурное господство

industrialized or developed nations – промышленно развитые страны

instability n – нестабильность, неустойчивость

International Monetary Fund (IMF) – международный валютный фонд

less developed countries (LDC) –развивающиеся страны

multinational adj – многонациональный

~corporation (MNC) – многонациональная корпорация

~ enterprise (MNE) – многонациональное предприятие

newly industrialized countries (NIC) – новые промышленно развитые страны

non-government organization (NGO) – неправительственные организации

Organization for Economic Cooperation and Development (OECD) –Организация по экономическому сотрудничеству и развитию

site n –стройплощадка, местонахождение

Special Drawing Rights – специальные права на заимствования/ на получение валюты (из всемирного валютного фонда)

transformation n – трансформация, превращение

GLOSSARY

 

· Global Market –When a business, company or industry has the opportunity to go beyond its domestic market to sell in some other country, one speaks of it entering the international market.

· Globalization – Globalization essentially means free movement of goods, services, people, and capital across national borders. This creates global markets for goods, services, labour, and capital. However, the term globalization has also come to mean something more: economic and cultural hegemony on the part of industrial enterprises and industrialized nations, particularly the United States.

· G-7 Group of Seven - the United States, Canada, Japan, Germany, France, the United Kingdom, and Italy (with Germany, France, the United Kingdom, and Italy comprising Europe’s so-called Big Four).
G-8 Group of Eight – The G-8 includes G-7 plus Russia, which may best be described as an economy in transition.

· Industrialized or developed nations -An industrialized economy has a large base of productive capital, sophisticated banking systems and financial markets, a variety of industries producing a broad range of products, and vigorous and varied international trade.

· Newly industrialized countries (NIC) -Newly industrialized nations (NICs) have a rapidly growing base of productive capital and rising incomes. Most of these nations have sound governments and banking and financial systems, although they may occasionally be subject to financial or political dislocation.

· Less developed countries (LDC) -Developing nations range from the poorest in the world to those that have begun to build an industrial base, but have yet to achieve stable growth in production and income. These economies are also called underdeveloped, undeveloped, and, most commonly, less developed countries (LDCs). A number of these nations have large, growing urban populations and serious difficulties with unemployment, crime, and poverty in the cities.

· IMF- International Monetary Fund -The International Monetary Fund is like a central bank for the world’s central banks. It is headquartered in Washington, D.C., has 184 member nations, and cooperates closely with the World bank. The IMF has a board of governors consisting of one representative from each member nation. The board of governors elects a 20-member executive board to conduct regular operations. The goals of the IMF are to promote world trade, stable exchange rates, and orderly correction of balance of payments problems.


BUSINESS ADMINISTRATION

COMPANY STRUCTURE

DISCOVERING CONNECTIONS

 

1. Which types of business are popular in your country?

2. What kind of company would you like to work for: state-owned, private limited company, multinational cooperation, etc.? Why? Give your reasons. Some people compare a small company to a family. In your view, is this analogy valid and useful? What are the benefits and risks of viewing a company as a family?

3. What do you think your fist position will be? What are the qualities of an effective team player? What qualities could you contribute to a company after getting a degree?

 

READING

 

Text 1

While reading the text, focus on the forms of business organization and pay attention to their advantages and disadvantages.

 








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