In today’s world of corporate colonialism, the big multinational companies or corporate giants are opening their multiple business for expanding all-round dominions all over the world. So the typical concept of colonialism is gone; but corporate colonialism as a by product of capitalism has engulfed the whole world in the form of globalization. Multinational companies have been establishing their production plants throughout the world and at the same time attracting all the meritorious and skilled work forces to their corporate workplaces.
In today’s world we are witnessing little or no action of almost all governments to address this irresistible problem. As a result, big corporate giants are taking that chance for stepping up to offer their own solutions to those problems. This scenario is reminding us the 17thcentury, when European joint-stock companies built private empires in the wealthiest parts of the contemporary world.
In the 17th century Europeans joint stock companies, such as, the British East India Company started establishing private empire in the Eastern part of India, especially in Bengal and surrounding areas which area was comparatively more resourceful than any other part of India. This area, at that time, held more than 16 per cent of world GDP which is now less than 2 per cent of world GDP. First of all the invaders came to this area in the name of business along with other competitors like, Dutch, Portuguese and gradually implemented divide and rule policy. Eventually, in collaboration with the local collaborators they had been able to capture the political power.
Though it’s surprising the 21stcentury multinationals are also appearing with the same policy, strategy and ideology. This reality is inevitable. Their solvency and financial base is stronger and more gigantic than that of many nation states. Implementation of any kind of multibillion Dollar projects, social development, rehabilitation and CSR can always be possible by those multinationals. Many key decision making process of various countries is impossible without the funding and consultancy of big multinationals.
In the face of today’s most urgent challenges-including cyber security, climate change, geopolitical turmoil, and migration-nation states seem incapable of organizing both the will and the resources to mount an adequate response. The capacity of governments to deliver for their constituents is shrinking. On the other hand, large corporations’ political influence is expanding. Sometimes this is happening dramatically, as in the case of Big Tech companies like Facebook and Google.
According to recent statistics the world’s largest corporations have raised more money than most countries in the world combined collected in taxation last year, a new study by campaign group Global Justice Now has found. The 10 biggest corporations, including Walmart, Apple and Shell, have combined revenue of more than 180 countries in a list that includes Ireland, Indonesia, Greece and South Africa.
The top 10 largest companies have enormous combined revenue of $2.9 trillion, which is larger than China’s tax revenue. The US, China, Germany, Japan, France and the UK comprise the top six economic entities followed by Italy, Brazil and Canada. US retailer Walmart, with revenue of $486 billion in 2017, out-earned the sixth-largest economy in the euro zone- Belgium (with GDP of $468 billion). If it were a country, Walmart would be ranked 24th in the world by GDP.
Revenues of German automaker Volkswagen are greater than Chile’s GDP. The company, which has been hit by the ‘Dieselgate’ scandal, earned $276 billion last year. With that market capitalization, Apple is worth over 1 per cent of the world’s GDP according to the latest estimates from the World Bank that peg the world’s output at $80.6 trillion. That also means the company is valued at over 5 per cent of America’s $19.3 trillion GDP.
Online retailer Amazon, which is close to surpassing Apple as the world’s most valuable company, earned almost $118 billion in 2017. Its revenue exceeded the GDP of Kuwait ($111 billion). Amazon CEO Jeff Bezos has recently become the richest man in modern history, with his wealth topping $150 billion this month.
Google’s parent company, Alphabet, earned more last year than Puerto Rico, which has a GDP of $105 billion. Alphabet revenues in 2017 totalled $111 billion. Going off its revenues, the company would be 59th in the world by GDP if it were a country.
If we look back to the history, we would find that during the late 20th century the human society, attitude and behaviour started changing dramatically. Multinational big giants have emerged as mighty corporate colonialists. They started controlling daily life, consumption behaviour and life style of the people all over the world.
Not only that, multinationals even changed the taste and attitude creating new trends in life style, eating habit and mindset. They also started controlling job market. Most of the attractive, prestigious and charming jobs are now being generated by them.
First of all they destroy cultural and behavioural heritage making people consumerist and materialistic. They also destroy local business competitors through price manipulation or their high quality. Gradually they start controlling local politics directly or indirectly. They also influence government policies of many countries fixing monetary and fiscal policies. They also destroy habitats, environment, cultural heritage, religious and ethical values out of their unlimited greed, reckless industrialization and capitalistic attitude.
In today’s world expanding colony through controlling over land have become obsolete and old fashioned. Because this is very much risky and expensive as well as the outcome is very low. So controlling over trade, commerce, various consumer products have become key to control overall affairs of a nation or state as a slow poison.
In this ICT base electronic age the multinationals which are IT based are controlling all over the world. Most of the top 10 corporate giants are IT companies, such as Microsoft, Facebook, Twitter, Google, Apple, Amazon, Samsung, Ali express and many more. Most of those companies are controlling virtual world of a person. They are dealing with social, networking, communication, artificial intelligence, internet of things etc.
People are now becoming very much desperate in fulfilling their sensual desire, physical comfort at any cost. Most of the top corporate giants are investing billions of dollars for meeting those desires of a person making their life more comfortable. World is changing at an unprecedented pace and people are not coping with that changes in many cases and are becoming tired.
The election security, result manipulation, influencing voter’s decision have become a big threat in today’s world where the actual reflection of people’s choice is under a big threat. In this age of Big Data people’s privacy, personal data, evidence of attitude and behaviour are under the control of big IT giants, such as Google, Facebook, Twitter, Instagram. Human history, attitude and behaviour and daily life are under the control of their data centres.
Through analyzing personal data illegally, spreading fake news and misinformation they are influencing the independent fair decision making process of human being and as a result we find the wrong reflection of the people’s mandate in the election and referendum. For example- we find unprecedented results of the latest general elections in America and Russia.
When the power, authority and influence are driven by unlimited greed, immorality and irrationality then the outcome must be devastating for the ordinary people. Today’s corporate giants are driven by the same policies making the governments of many countries inactive destroying their sovereignty. In this scenario only the people of certain quarter would be highly benefited and most of the ordinary people would be looser and sufferer. Above all when a nation state or government becomes inactive and dysfunctional then no sustainable development might come into being.
© Copyright: Reserved by the writer (Noore Alam Siddiqui)
