New Corporate Powers

Global trade is booming. Not only does this mean that people across the globe are familiar with brands like McDonalds, Starbucks, Toyota and Coca-Cola, but it is changing the balance of economic power. In fact, 40 of the world’s 100 largest economies are not nations, but corporations. Exxon is bigger than Sweden; AT&T is bigger than Hungary; Home Depot is bigger than Egypt. Wal-Mart by itself is larger than the economies of over 200 different nations of the world! [CIA World Fact Book, world economies; “Our Annual Ranking of America’s Largest Corporations, 2008,” Fortune Magazine, www.cnnmoney.com (accessed October 24, 2008).] [Page 21]