Recapturing the agenda: freeing global markets not transnational corporations

John Mikler

Development in Practice, 2025, vol. 35, issue 6, 953-959

Abstract: The global economy is dominated by transnational corporations. These do not just dominate the global markets for their products and services, they also sit at the centre of global supply, production, and value chains that they strategically coordinate, and thereby control global trade and investment. The result is that arguments for promoting free trade no longer promote free markets but ensure their greater control by these enormous entities. They also ensure that this dominance is geographically exercised from the handful of states where they are based. If the benefits of free trade for developing countries, and the agenda for an economically liberal world order, are to be recaptured, the agenda needs to be changed from promoting free trade and free trade agreements, to one that embraces not just national but also the global regulation of the activities of transnational corporations as originally envisaged in the New International Economic Order.

Date: 2025
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DOI: 10.1080/09614524.2024.2431290

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