Explain, with an example, what a multinational corporation is. How are multinational corporations based on global economic divisions? How does this relate to the "race to the bottom"?
What will be an ideal response?
A multinational corporation is a corporation that operates globally rather than having a "home office." Employees can live and work in dozens of cities or countries. Examples include WalMart and Kmart, as well as toy companies and clothing companies. The management and designers may work in wealthier countries such as the United States, but the production is "outsourced" to poorer countries where wages are lower. The "race to the bottom" refers to the phenomenon that multinational corporations will go wherever on Earth they need to, to maximize profits by paying the lowest possible wages.
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What will be an ideal response?