Definition Of Mncs

There is no doubt that rapid globalization has integrated world economy and enlarged economic scale by expanding and emerging market frontiers in the last two decades. However, this new wave of phenomenon has tended to emphasize only its outcomes in terms of economic growth, despite its dark sides. Current economic systems – the integration of world economy and MNCs’ involvement – cannot be considered as a positive trend and the risks and problems should be aware of and strived to solve by activating public debate on international level.

To understand the current trend of world economy, multinational corporations (MNCs) should be explained, as they have become the main carriers leading economic globalization. Definition of MNCs is that comprised

Even though global number of children in child labor has declined significantly since 2000, as international awareness of fundamental labor rights has been grown and in response to that, international conferences have been held in order to innovate practices that violate human rights with regards to labor standards, there are still 168 million children in child labor and 85 million are in hazardous work. Outsourcing has been an effective strategy for MNCs owing to its cheap production costs. Corporations generate immeasurable profit from taking advantage of cheap labor and material costs of developing countries under the lack of vigilance. It is the time for MNCs as well as the governments to take their responsibilities to be determined to tackle this ongoing issue that can be implemented over the long term to cultivate sustainable, feasible, and pragmatic rather than short-term

The idea of ‘Brexit’ is the latest issue of EU as well as global economy. The word, ‘Brexit’, emerging ‘Britain’ and ‘exit’ refers to the United Kingdom’s leaving the EU. The UK is one of the main contributors of EU members with France and Germany. Approximately 28% of what the UK produces is exported. They benefit from importing as well taking advantage of the fact that EU’s single market tariffs have been eliminated or relatively lowed. According to BBC, the UK exports £227 billion to EU and imports £288 billion from EU. These data indicate its high dependency on trades and products traded via EU have had great impacts on the UK’s economy. The concept of ‘Brexit’ is against the current wave of economic trading and movements of goods and services including human capitals beyond the barriers. This is strong evidence that demonstrates the potential concern, which has been raised even before the worldwide spreading of economic globalization by many economists, that it may harm not only a certain country, but also the entire world economy. Regardless whether ‘Brexit’ is determined or not, it highlights that current economic globalization is not a positive trend and this is not a problem cropped up all in