Multinational corporations: A new global dimension - Corporations bigger than governments

Comparative studies of top 100 corporations have shown that many of them are bigger than some industrially developed countries. Thus, the market value of Microsoft ($407 billion) exceeds the gross national product (GNP) of Austria ($212 billion) and is comparable with the GNP of Russia ($447 billion). Globalization is a sign of our times. National economies and financial markets are becoming ever more closely interconnected and international exchanges of goods and services are reaching record-breaking, previously inconceivable levels. World trade is growing at an annual rate of 5.3%, much faster than annual worldwide production, with its growth rate of 1.4%. Also, multinational corporations are becoming an ever stronger political factor.