International corporations have become key actors in today's global economy, playing a role that is difficult to overestimate the system of international economic relations.
For leading industrial countries is foreign operation TNC determines the nature of their international relations. So, up to 40% of the value of the property 100 TNCs (including financial) is outside their home country.
If we compare the amount of foreign (international) manufacturing TNCs volume of their exports, cleared of intra-firm trade, then at the end of the 80s, the ratio for the United States, Japan and Germany are, respectively: 4.1:1, 2.6:1; 1,5:3. Great in the role of exports in these countries for supplies and services from local companies to their foreign affiliates. In the second half of the '80s for such intra-firm trade accounted for between 14 and 20% of U.S. exports, 23-29% and 24-28% of Japan German exports.
Actively participating in international production processes on the basis of the traditional international division of labor, TNCs have established their own in-house international production on the basis of a modernized international division of labor, with the connection of several developing new markets for their specialization. It is this in-house version of the international production was for the modern major international corporations.
Organization of international production in-house gives TNK number of advantages:
1) the benefits of international specialization of production by individual countries;
2) most of the tax, investment and other benefits provided by countries for foreign investors;
3) maneuver capacity utilization by adapting their production programs in accordance with the situation on the world market;
4) the use of its subsidiaries as a base for the conquest of emerging markets. So, for example, to sell its products through its' overseas subsidiaries of TNK much higher than world exports. While sales of multinational corporations outside the country home base grow by 20-30% faster than exports. By investing in many developing countries, TNCs are building factories, not in order to sell goods produced in their home country, and for the needs of the countries - recipients of capital;
5) organization of its own international production enables TNCs extend the product life cycle, adjusting the production of the product as its obsolescence in overseas branches, and then selling the license for its production to other companies.
The basis of world domination TNK - the export of capital and its effective deployment. The total foreign investment of all TNCs are now playing a more significant role than trade. TNCs control one third of the productive capital of the private sector around the world, up to 90% of direct investment abroad. Direct investment abroad in TNK companies, equipment and other property in the middle of the 9.0-s exceeded 3 trillion. However, direct U.S. investment grew 3 times faster than investment in general, although the former is still approximately 6% per annum investment in industrialized countries.
With large capital, TNCs are active in the international financial markets. The total foreign exchange reserves of TNCs is several times larger than the reserves of all the central banks of the world combined. 1-2% of the mass movement of money in the private sector, it can change the mutual parity any two national currencies. TNCs often considered exchange operations as the most profitable source of their profits.
Sectoral structure of production of TNK is wide: 60% of the material companies engaged in manufacturing, 37% - in the service sector and 3% in mining and agriculture. There is clearly a trend of increasing investment in services and technology-intensive production. At the same time reduced the share of the mining industry, agriculture and resource-intensive production.
According to the American magazine «Fortune» leading role among the top 500 TNCs play four sets: electronics, petroleum refining, chemicals and automotive. Their sales are up about 80% of the total activity of transnational corporations and five hundred "giants." A very typical regional and sectoral focus by TNCs. As a rule, they are investing in the manufacturing industry and the NIS in relation to developed and developing countries. In this case there is a competition for investment capital recipient countries. For the poorest countries, the policy is different - TNK see fit to carry out there investing in the mining industry, but mainly to increase the export of commodities. In this case unfolds fierce competition between TNCs promote their products to local markets.
Transnational corporations have increasingly become the determining factor in deciding the fate of a country in the international system of economic relations. The active production, investment, trading activity TNK allows them to perform the function of the international control of production and distribution of products, and even, according to UN experts, to promote economic integration in the world.
TNK intrude into areas that have traditionally been viewed as the public interest - the experts conclude the UN report on transnational corporations, UNCTAD (1993). However, we are not talking about going to the full integration of the world economy under the leadership of multinational corporations. In fact, the activities of TNCs leads to integration, internationalization only within those limits and boundaries that are defined maximum profit. While noting the positive aspects of the functioning of TNCs in the world economy and international economic relations, it should be said about their negative impact on the economies of the countries in which they operate. Experts suggest:
- To counter the implementation of economic policies of those states where TNCs operate;
- A violation of state laws. So by manipulating the transfer price policy, subsidiaries, multinationals operating in different countries, cleverly circumvent national legislation to cover revenue from taxation by transferring them from one country to another;
- The establishment of monopoly prices, dictate the conditions prejudicial to the interests of host countries;
- Luring highly qualified leading multinationals from around the world.
In general, TNK - it is a complex and constantly evolving phenomenon in the system of economic links, requiring constant attention, learning and international control. All the more so in this country are beginning to emerge and develop large Russian corporations - financial and industrial groups, who see their prospects in the active expansion in foreign markets.
The postwar history of Western European countries, Japan and the "newly industrialized countries" suggests that the national capital is able to compete with TNCs in the event that he himself is structured into powerful financial and industrial education (adequate international peers) capable of conducting an active foreign policy