The wind’s blowing against MNCs

A popular leftist view is that the world is being overrun by multinational corporations which are pushing for globalisation, and they are in cahoots with governments to have their way. Nationalism was a useful tool in this fight. Thus, for a long time, the fear that small retailers will not be able to compete with the might of large chains from overseas effectively protected the Indian market from foreign investment in the retail sector. It was not very clear to me how the same small retailers could cope with domestic retail chains (which have been growing) but would not be able to cope with foreign chains, but let’s leave that aside.

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