"Transnational corporations (TNCs) are dominant driving forces in the global economy. By the early 1970s, they 'had come to play a central role in the world economy', and currently occupy roughly one-third of world GDP. The number of TNCs has dramatically increased due to the internationalisation of small and medium-sized enterprises' (SMEs) business activities since the late 1970s. Meanwhile, large-scale TNCs have assumed as much economic and political power as many states. TNCs have thus become predominant providers of foreign direct investment (FDI). While sharply contrasting views exist on the relationship between FDI and economic growth in capital-importing countries, it remains a fact that FDI has become the second largest external source of capital for developing countries, following personal remittances"--