Transnational Corporations in the New International Economic Order

Abstract

This essay assesses the forces and factors which are currently structuring international industry, focusing specifically on the impacts of government policies, the market orientations of TNCs, the nature of different markets around the world, and the effects of different technologies. These forces being uncoordinated are seen as shaping an international industrial order that is not consonant with the objectives of the New International Economic Order (NIEO); consequently, what is expected for the near term is a nationally oriented disintegration of the international economy resulting from struggles over the location of specific industries around the world that will not be resolved cooperatively. The most likely moves toward international industrial integration will occur within key sectors among members of a regional association. At present, it appears unlikely that significant moves will be made toward a new international industrial order in line with the objectives of the NIEO; yet, the TNCs would be effective means of achieving this goal if greater cooperation could be achieved between them and governments.