The multinational corporation is an obviously important enterprise in the world today. But how important, and in what ways? The gross world product is estimated to be about $3 trillion, the United States accounting for one-third of it. Europe, Japan and Australia produce another third, and the remaining third is produced in the USSR, Eastern Europe, China and developing countries elsewhere in the world. About 15 per cent, or $450 billion, is accounted for by the multinational corporation (MNC), whose output has been increasing at 10 per cent per annum.