A number of multinational corporations (MNCs) from developing economies are becoming key players in the global economy. The world's secondlargest forgingsmaker comes from India; the biggest Nordic insurer was bought by a South African competitor; a Mexican company reinvented the global cement business; and Brazilian restaurant chains sponsor immigration visas for highlyskilled meat carvers to support their American expansions. Understanding these trends and their implications is a priority for academics, policymakers and business professionals alike. Do these developments vindicate the view that globalization opens up unprecedented opportunities for the South to catch up with the North? Are these "emerging MNCs" any different from their competitors from industrial countries? Does private sector direct engagement herald a new era for SouthSouth cooperation? As this book shows, emerging MNCs must be analyzed in the context of the global political economy.
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YEW-KWANG NG is Professor of Economics at Monash University and fellow of the Academy of Social Sciences in Australia, where he recently received the Distinguished Fellow Award, 2007, Economic Society of Australia. He has published papers in leading journals in economics as well as in biology, mathematics, philosophy, psychology, and sociology.
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