Business Environment by Pearson

Multinational Corporations | 349

 ows.  e report also stressed the role of MNCs in unequivocal terms stating that MNCs are

the propelling force leading to a closer integration of the world economy. One-third of pri-

vate productive assets in the world are estimated to be under the common governance of

these  rms resulting in the emergence of an integrated, international production system.

It was reported that the number of MNCs from 14 leading developed countries grew from

7,000, which was the number before two decades, to 24,000 in 1993.  ere were 37,000 mul-

tinationals with over 1.7 lakh foreign a liates functioning in the world in ...