“Globally giant financial firms are better able than local financial firms to provide good corporate governance and efficient financial resource allocation for developing countries”. Discuss.

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Globally giant financial firms are better able than local financial firms to provide good corporate governance and efficient financial resource allocation for developing countries . Discuss

Globalization has given rise to the appearance of the global corporation . This has been a natural development from the national to the international then multinational or transnational and now global corporation . A global corporation is different from other corporate forms in that it operates with a single global approach with a worldwide system and plan for products

, marketing , manufacturing , logistics research and development , accounting , and human resource management . The global economy and society describe the global corporation 's competitive environment . The global corporation has no geographical boundaries but carries out its operations and management functions holistically in the framework of a unified worldwide system . It balances its global compulsions with local needs in to give excellent customer service both globally and locally . It locates its operations , including corporate headquarters , where in the world , despite of nationality . It recruits and selects the best people accessible as management or knowledge workers despite of their nationality . Examples of global corporations include IBM , General Electric , Coca-Cola , McDonald 's Phillips , Time-Warner (CNN , Shell , General Motors , Siemens , Toyota Microsoft , Alcatel , and Nortel Networks . Almost all global corporations work in the English language

Global corporations are the main players and drivers of global trade and investment . They control global trade , finance and investment , research and development , technology transfer , and product chains that infuse the world economy . By the end of the year 2000 , global corporations employed over 60 million people worldwide , of whom about 22 million , or almost 40 percent , were in developing countries . They get most of their revenue (about 60 percent ) from outside their original home country , and trade goods and services among themselves . They work on the basis of global strategic alliances , competing and collaborating with other corporate entities in the global economy . In all aspects , global corporations are the most significant force in the control and acceleration of global trade and globalization (Neff J .

. 1995

I completely agree that Globally giant financial firms are better able than local financial firms to provide good corporate governance and efficient financial resource allocation for developing countries

As it is not probable to strengthen the world 's banking and financial systems without the active participation of international financial institutions

Professor Galbraith has concluded "the burden of reputable economic advice

was invariably on the side of measures that would make things worse John Kenneth Galbraith , 1955 , pp . 187-188

The debate over the causes of the Great Depression of 1929-1940 has been not only theoretically difficult but also highly charged with political feeling . There is as yet no full conformity on the subject , but incontestably the clearest and wittiest treatment has been offered by Harvard economist John Kenneth Galbraith . John Kenneth Galbraith In excerpt from his book , The Great Crash , 1929 ( 1955 , Galbraith makes the significant distinction between the causes of the stock market crash and...