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By Professor John H Dunning

During this number of his most recent essays, John H. Dunning - well known authority in foreign company - elaborates his theories at the present scenario of the international direct funding and multinational organisations.

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1996), Globalization in Question, Cambridge: Polity Press. P. (1996), The Clash of Civilizations, New York: Simon and Schuster. IMF (1997), World Economic Outlook: Globalization, Opportunities and Challenges, Washington: International Monetary Fund, May. Investment Canada (1990), The Business Implications of Globalization, Ottawa: Investment Canada Working Paper No. V. M. (1998), Welfare Capitalism in Japan and the United States, Los Angeles, UCLA CIBER Working Papers 98–125. N. (1997), International Economic Integration, London and New York: Routledge, Critical Perspectives on the World Economy (4 volumes).

Time this would best wait until the repercussions of the breakdown of the MAI talks are fully known. For a recent examination of these tasks see various chapters in Dunning (1997). Strictly speaking, one also ought to address the various kinds of bilateral economic arrangements which countries might conclude with each other. However, space precludes us from doing this. Data on the extent and composition of bilateral investment treaties are, for example, given in the annual World Investment Reports published by the UN.

The former are frequently endemic, and are a consequence of rapid technological and social change. They include a variety of crossborder market and institutional failures, and the increased prevalence of economic shocks, discontinuities and uncertainties. g. 3 Causes of global capitalism Source: Investment Canada (1990). 18 Global capitalism at bay? between skilled and unskilled workers, and between the very rich and very poor); and the challenge to social cohesion and national insurance schemes.

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