MNCs ACCELERATE GLOBALIZATION
By
Muhammad Waseem Bari
The University of Faisalabad
Pakistan
E. mail: muhammadwaseembari786@gmail.com
Cell No. 0092-300-7119917
Liaqat Ali
National Textile University
Faisalabad, Pakistan
MNCs ACCELERATE GLOBALIZATION
Abstract:
Globalization describes as an ongoing process, which has integrated the regional economies,
societies, and cultures through a network of interdependence. Multinationals are the primary
agents of globalization .The role of MNCs as force, which has fostered the globalization and key
actors facilitating behind this process. It has been also mentioned that the country of origin do
have a great impact upon the size and performance of these MNCs. Most of the big Multinational
is belong to the country that economic indicator show it on strong position. Ultimately, this strong
position gives advantage to their MNCs to perform better and support to the economic interests of
strong countries.
Keywords: Globalization, MNCs, Dependency Theory, Interdependence, Powerful countries,
Developing countries, Non-state actors, knowledge, Capital, Technology, Natural Resources,
Cheap Resources,
Introduction:
The world has seen an incredible increase in the global transactions and foreign trade in recent
years. Globalization has categorized as a vigorous process of liberalization, openness, and
international integration ( Islam, 2014). It has more solid foundations and so many economies been
open to global trade and financial flows. The contemporary global companies are pursuing a world
strategy with perfect coordination and integration between different national operations. It is
observing that the role of Multinational Corporations (MNCs) as a driving force towards
globalization has become a great concern for the researchers. MNCs without any doubt are one of
the key players of the globalization phenomena (Fisch& Oesterle, 2003). Numbers of MNCs are
increasing with highly increasing rate. There is 889,416 MNCs around the world: 82,053 parent
corporations and 807,363 affiliates (UNCTAD, 2009). These increasing numbers indicate global
economic interests of MNCs. Intriligator (2003) highlighted that recent decades have seen a greater
globalization of economic affairs throughout most of the world.
The primary agents of globalization are the big MNCs both financial and non-financial. They raise
trade and capital flows between regions and integrate markets on global basis. To expand the
phenomena of globalization, it is necessary for any MNC to integrate with different organizations
and regions of the world. Economic integration of different forces leads to collaboration among
the key players with the support of their respective governments as well (TLRP, 2008).
Harrison (2011) indicated that Objectives influenced the companies to engage in international
business are economic advantages. Main advantages are expansion of sales, increasing capital,
acquiring cheap resources, minimizing competitive risk and diversification of sources of sales and
supplies (saadat, 2013). To cope with low cyclical demand in one country, MNCs seek to diversify
their offer in different regions of the world (Ernst & Young, 2011). MNCs have increased their
share with better technology, superior knowledge, enormous capital, and better management skills
(Ciravegna & Seldin, 2008).
The objectives of the paper is to investigate that how and why MNCs accelerating globalization.
Secondly, whose are the directors behind the global actions of MNCs? The sequence of the paper
has based on five sections.
First section: Operational process of a MNC.
Second section: Dependency Theory and its dimensions.
Third section: Relationship of dependency theory and globalization process of MNCs.
Fourth section: Actors behind MNCS Globalization Process.
Fifth section: MNCs Accelerate Globalization through Interdependence
1-Operational Process of MNC:
Different nations and geographical regions
have kept different resources. MNCs do
globalize the resources of different regions
and nations through their operational
process.
MNCs
take
the
economic
advantage from all over the world through
this processing. Following model is helpful
to understand the operational process of
MNC. Model is divided into four quadrants
(based on four types of economies,
Technology based economy, Knowledge
based economy, natural resource based
economy, and capital based economy). According to this model, in beginning, a MNC starts its
business operations and inter into a country “A”. Economy of country “A” considered being a
knowledge intensive economy. MNC has learnt used and document that knowledge. Then MNC
has transferred selective or as per need knowledge other areas of world where they have their
operations. In this way, a knowledge that was create in one country now transferred to the other
areas of the world. In second circle of the model, there is a Country “B” that has technology-based
economy. MNCs collects the innovative technology form country “B” and selectively disburse it
to other regions of the world where it operates. In this way, a particular country based innovative
technology has become global technology. The same case is with the country “C” and “D” where
MNC be a reason of globalization through disbursement of natural resources and capital.
The process of different nation’s resources rotation in different regions of the world has also
created four gradual effects at the same time on MNC.
1. Cheap Resources:
MNC has made its access to different nations resources at a time (Rahman, MNCs and
TNCs: Their Role and Socioeconomic Impact on Host Societies, 2006). This access has
helped to the MNC to choose cheapest resources among accessed countries and utilized
them in its production process. Resources has become cheapest with large-scale
production (economy of scale) by the MNC.
2. Reduce Time and Transportation Cost:
MNCs also have reduced time and transportation cost as they open their subsidiaries
round the globe. This advantage has helped the MNCs to make the supplies in shorter
time with lower cost as compared to their local competitors (Cannice & Chen , 2006).
3. More Knowledge and Business Skills:
MNCs increased their knowledge and business skills with international and diversified
business practices. MNCs have hired multi skilled, knowledge able and experienced
human resource from all over the world (TLRP, 2008).
4. More profit:
Archibugi & Pietrobelli (2003) underlined that MNCs multiply their profits and benefits
with the growth of innovative knowledge, technologies, and cheap resources. Maximum
assess to the international and regional markets help to increase MNCs profit.
The most important mechanism has understood in this operational progression of MNC is
skimming accumulation of strategic resources from throughout the world. MNCs have extracted
the spirit of resources like, knowledge, technology and of course the capital. The center of the
spirit of these resources is always the Head Office of MNC.
2-Dependency Theory:
Dependency theory emerged in 1960 to 1970 in central South America ( Skira, 2007). A great
movement was asking about international relations. The question was why are so many countries
in the world not developing? Traditional answer of the question was because these countries are
not perusing right economic policies or governments are corrupt. However, the dependency
theorist were interested to find the facts about the world. They argue that countries around the
world are not developing because international system actually preventing them to doing so
(United Nations, 2004). International system was exploiting them through domination of some
countries over the others.
For better understanding of dependency theory, look at the following model. Dependency theory
has based on World System Theory, Historical Structural Theory, and Neo Marxism Theory
(Costantinos, 1998). The founders of dependency theory have argued that world based on different
kinds of countries. Each of these countries performs some specific functions in the world economy
like,
CC: Centre of the Centre: The richest and
most powerful countries of the world like
United Kingdom, United States, and France
CC
PC
CP
PP
and so on.
PC: periphery of the Centre: These are
modernized, industrialized, and wealthy
countries like, Canada, Netherlands, and
Japan. These countries have little less global
power then the central countries.
CP: Centre of the Peripheries: These
countries are still developing but they have
fair enough amount of wealth like, South
Africa, India, Brazil.
PP: Periphery of Periphery: These countries are poorest countries of the world like, Cambodia,
Zambia. Poor countries are a source of cheap labour, natural resources and a buyer of obsolete
technology and a market for developed nations. If developed countries did not have these markets,
they would not be able to enjoy the standard of living that they do.
Dependency theory creates three effects with its application.
International Division of Labour:
Among all these countries, CC countries are dominating in terms of industry, technology, research,
development, and capital-intensive industries. On the other hand, periphery countries are resource
extraction economies, agricultural economies and providing cheap labour. Sirkin et. al.(2011)
explained that China, using cheap labour, exporting its products and becoming the heart of
manufacturing of the world. As a result, structure of world economy is one in which the periphery
of central country serve in the economic interests of richest country. CP serves the both core
countries. Naturally, the country of periphery of periphery serves the economic interests of
everybody ( Toussaint, 2013).
Class Distinction:
In each of these types of countries round the world, there is a clear divide between the rich and
the poor. Therefore, small portion is rich and large is working or poor class and this is same in
each type of country. Dependency theorists has argued that the rich people; the political and
economic elites of the countries around the world are cooperate with one another ( Ferraro, 1996).
This cooperate with one another is insure the sustained power and increase the wrong wealth. All
these rich people cooperate with each other to sustain this international system.
All these countries exist in a wider global system and this wider global system categorized by,
Global Capitalism:
It means that in this system liberal economic theory dominates. Theory of Trade and theory of
finance which of course also in the interest of the CC countries. In additions MNCs and Banks in
this system are also serves the richest countries (Kgellen, 2006). International Institutions like
World Bank and International Monetary Fund (IMF) again also serve the interests of Core
countries and their richest people (MIT, 2000). Even things like education system, the global media
also structures that serves the interests of most powerful countries and richest people of the world
(UNO, 2003). Result is the entire system, international division of labour, the class distinction, and
global capitalism all serves the interests of the wealthiest. They do not serves the interests of
developing countries. They do not promote development or equal opportunities. Instead, system
promotes domination and exploitation. Wealthy nations perpetuate a state of dependence through
economics, politics, Media control, finance, education, culture, sports, and human resource
development. Wealthy nations actively counter attempts by other nations to resist their influences
through economic sanctions and military action. So far, dependency theory perspective, how can
states possibly develop in this kind of system? Keet (2012) argued that International System
actually designed to prevent them from developing and dependency theorist call this
underdevelopment. So this is the result, system promotes underdevelopment countries round the
globe. This is the reason we are not seeing countries develop as traditional economic theory
describe.
3-Dependency Theory and Globalization Process of MNC:
Hills (1994) explained that
Dependency theory developed due to a
reaction
of
Modernization
modernization
theorists
theory.
stated
that
becoming a developed country was a part
of a series of steps that 1st world
countries had already experienced and
3rd world countries were undergoing now
( Samarasinghe, 1994). Dependency
theorist rejects this. They have explained
that it is a resources flow from poorer
countries into developed ones ( Ferraro,
1996). Because 3rd world countries need
capital and technology from developed
countries. Developed countries are able
to exploit them, which causes the flow of natural resources and assets of developing countries into
the developed ones. Thus, the standard of living of developed countries is dependent on the output
of developing countries.
Looking into the model, MNC does open its subsidiaries; do joint ventures, or merger and
acquisition in different regions of the world ( Akkaya, 2005). With the expansion of operations of
a MNC in the world, its access to the world resources also has increased. MNC has accumulated
these resources at head office and selectively reveled these resources (knowledge, Technology,
Capital) to different countries or nations as per its personal interests (Dahlman, 2006). CC
countries (Centre of the Centre) are wealthiest and strongest countries of the world and normally
has based on capital economy ( Toussaint, 2013). Some portion of CC countries also based on
knowledge based economies. PC countries (periphery of the Centre) has dominated by knowledgebased economies and some portion of their economies based on technology. CP countries (Centre
of the Peripheries) economies have a fusion of technology and natural resources. Parr & Ocampo
(2005) explained that PP Countries (Periphery of Periphery) have kept natural resource based
economies and some portion of obsolete technology.
MNCs have used and accumulate best resources of all economies and share them selectively or as
per need with all economies. MNCs have centralized its strategic resources at their head offices.
Most of the top MNCs head offices have situated in CC countries and some are in PC countries
(CED, 2010). The situation has cleared that globalization process of MNC ultimately skim and
accumulate the resources of the world in a particular region of the world (UNO, 2009). It means
that MNC serves the interests of some specific areas (country/Countries).
This service did not stop at this level. As mentioned in the dependency theory that class distinction
has found in every country ( Kharas, 2010). Domhoff (2014) Upper class of every country has
joint together for its economic interests. This combined upper class of the world has enjoyed and
accumulated the resources of the world. This is the reason that the major share of sales and
purchase of MNCs has divided in this particular class. Rich class of PP, PC and CP countries
serves the interests of rich class of CC countries. This framework has highlighted that MNCS are
under control of small group of people of the world. MNCs are driving globalization for the
economic interests of a particular class of people and for political interests of some specific
countries or region (Stefanović, 2008). The theory concludes that poverty in developing countries
is not because they are not integrate enough into the world system but rather it is inherent in the
nature in which they are integrated.
4-Actors behind MNCS Globalization Process:
If we closely review the following data in the tables, some interesting and alarming facts will
found. It is clear that the most powerful countries, most richest countries, most richest people and
top MNCs of the world belongs to the almost same region or countries of the world ( Eijaz &
Ahmad, 2011). Why it is so? Because it is a world distinction. The result of class distinction as it
has mentioned in dependency theory.
Bigman emphasized that richest & powerful countries and richest & powerful people are real
drivers and actors behind MNCs for globalization. MNCs drive globalization for the economic
interests of these people and countries. Powerful countries have explored and revealed all the
resources of CP, PC and PP countries for their benefits (UN-DESA, 2013). ( Waltz,
1981)However, did not reveal their own resources until they become obsolete or useless for them.
Source: the IMF: Wealth of countries and regions for year 2013.
Source: International Monetary Fund (World Economic Outlook Database-October 2013)
Source: National Power Index 2012: Foundation for National Security Research
http://www.pwc.com/gx/en/audit-services/capital-market/publications/top100-marketcapitalisation.jhtml
http://www.thecountriesof.com/who-is-the-richest-person-in-the-worldever/#sthash.HIq1D6SM.dpuf
5-MNCs Accelerate Globalization through Interdependence:
Makariusová (2011) defined that Interdependence
means mutual connectedness and dependency of states
and non-state actors. Whole idea of interdependence has
wrapped up with globalization of world. Liberalist has
argued that more interdependence world will be more
peaceful and prosperous world ( Moravcsik, 2010). For
understanding the concept of interdependence, observe
the model. In international system, there are number of
states with varying in size. First important thing to
understand regarding theory of interdependence and
liberalism is states are not the only actors and
significant. There are number of different type’s actors
important for globalization. MNCs and NGOs are also
NGOs
State
Institution
s
MNCs
very important actors. Lewis & Kanji (2009) cleared that NGOs although did not work for profit
but they still have important role in international relations. Last, one is international Institutions.
Role of World Bank, IMF, Europe Union, United Nations, and World Health Organization (WHO)
plays very important role in international relations and politics. It has cleared from the model that
states are not only actors, some non- state actors also important in international system and
globalization. The whole idea is all these states and non- states actors have interconnected in some
way. They have interconnected with multiple channels like, trade, finance, travel, and
communications. Taken to gather all that means or ways in which these actors have interconnected
in international system. According to liberalists, the relationship among these actors is not
symmetrical ( Moravcsik, 2010). Some countries or non-state actors may be more dependent than
others may. Bruderlein (2000) argued that some non-state actors may be more powerful or risktaker and they can break this network.
CC countries have used these non-state actors as a pressure group and take the economic and
regional advantages from all over the world (Ataman, 2003). NGOs and International Institutions
are inter into CP and PP countries for their help on certain conditions. All these conditions mostly
have in favor of CC countries. CP and PP countries sometimes have accept these conditions and
sometimes not. However, the case of MNCs is entirely different. MNCs are always inter into
developing or underdeveloped countries with screening the intension of trade, investment, and
prosperity of the countries (UNO, 2013). MNCs has created their acceptability through Corporate
Social Responsibility (CSR) program (Lee & Yang, 2013). They give donations for development,
do social work for the community, and help the states in international relations.
With the passage of time, MNCs spread their business in whole state and capture maximum share
of the local market (Rahman, 2006). For their economic advantage, states also offer relaxation in
laws due to their political, social, and economic role. MNCs spread their roots in different nations
and interconnected them for their economic advantages. This is clear now, MNCs did not drive
globalization,
but
MNCs
becomes
globalized
for
their
operations
and
economic
advantages ( Shangquan, 2000).
6-Conclusions:
MNCs are accelerating the globalization by using the International system. International system
is working under the interdependence theory ( Moravcsik, 2010). Interdependence theory has
highlighted the role of non-state actors in states. Almost all non- state actors (NGOs, MNCs, and
International Institutions) directly or indirectly are under control of richest or powerful countries
of the world ( Howley, 2007). These countries have used these non-state actors for their economic
and political interests in developing countries. MNCs are key non-state actor, which work for
economic interest of CC countries. Other non-state actors (NGOs and Institutions) plays the role
of lubricant for the expansion of MNCs operation round the globe. In nutshell, MNCs are working
as global actors for the economic interests of regional directors (CC countries) ( Steinbockova,
2007).
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