"What is the relation between economy and globalization?"/ Joon Hee Lee
(Summary) Transnational corporations (TNC) are the center of the global economy, and we will sympathize with the perception that their influence will be greater than politics. But to be exact, it is not right. TNC have grown exponentially over the past 50 years, and many companies are likely to change into TNC in the future. In this article, the TNC is defined as an entity that has the power to coordinate and control operations in one or more countries. The conglomerates, also called global companies, are doing business around the world, and appear to have no attachment to any particular country or community at all. In reality, however, very few are considered 'global' companies in terms of geographic scope. The majority still maintain more than half of their activities in their home countries, with a variety of forms ranging from companies operating in dozens of countries to TNC operating in only one or two countries. There are many reasons why the TNC's activities exte...