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Multinationals think local

The BP crisis showed that global corporations are not all-powerful. Now they must adapt to survive

By Nick Butler   September 2010

Global conflict: multinationals are often wrong-footed by strong feelings about local issues

Few modern myths are as powerful as the idea that the world has fallen under the control of vast, all-powerful, multinational corporations. Echoes of this can be heard from all the Labour leadership candidates, President Obama and, most recently, in attacks by coalition ministers on the banking industry. But the events of the past three months in the Gulf of Mexico should convince us all that this is nonsense.

The Deepwater Horizon accident itself, and the environmental damage done, were tragic. But the incident has also prompted a…

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