Colombian Political Bases of the Andean Pact Statute on Foreign Capitals: National Influences on International Regulation of Foreign Investment

Abstract

Recognition of the economic power of multinational corporations has stimulated speculation about the development of international political structures to regulate this power. A major difficulty in assuming that corporate expansion throughout the world will give rise to political phenomena of similar scope lies in the difference between international power based on corporate growth and international power based on the cooperation of nation-states. Whereas the economic internationalism of corporations is in general an expansion of power which has well-defined historical foundations in ideology and organization, the task of developing international political associations with power to enforce policy within a number of states entails at least a partial redefinition of traditional bases of political sovereignty. The former is growth of existing power; the latter is creation of a new form of power. There is no obviously necessary development from one to the other.