Globalization’s New Logic: the Rise of Developing-World Multinationals

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In March, India’s Tata Group made headlines with its $2.3 billion acquisition of Jaguar and Land Rover (JLR) from Ford, the latest in a series of high-profile mergers and acquisitions in which well-known Western brands such as IBM, Barclays Bank, Tetley Tea and Corus steel have been bought, in part or entirely, by multinational corporations from developing economies. Those with a longer historical view might recall that it was private business — the British East India Company — that imposed imperial control over the “brightest jewel in the empire,” before crown rule was implemented in 1858. With Tata scooping up […]

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