The world’s multinational corporations – 63,000 of them at last count – frequently find themselves the target of criticism by the world’s anti-globalization protesters. MNCs, the protesters charge, are principally responsible for the impoverishment of many of the world’s six billion people.
While global corporations have unquestionably brought greater wealth, power and opportunity to the poor world, especially China and India, according to the World Bank some two billion people still live in countries or regions that have been left behind, becoming in fact less globalized. In these places trade has diminished in relation to national income, foreign investment and economic growth have stagnated, and poverty has risen. Most Africans were better off 40 years ago. The average per capita income of Muslims – from Morocco to Bangladesh and beyond to Indonesia and the Philippines – is half the world average.
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