Emerging-Market Multinationals #
The Economist has an interesting — but rather dry — feature about the composition and rise of emerging-market multinationals. Where many have long assumed that first-world multinationals would buy and otherwise dominate less-advanced companies in the “third world,” the piece argues that while this does occur, it’s shortsighted and reductive to pretend that that’s the only evolution of multinationals.
The latest trend reflects a new, fundamental shift. In a more open world, emerging economies are spawning their own giants. UNCTAD is turning its attention to the new shape of global business: investment now flows increasingly from south to north and south to south, as emerging economies invest both in the rich world and in less developed countries.