Socialist-owned Multinationals

Abstract

The designation ‘multinational’ usually brings to mind multinational corporations — large, private companies owned by Western capitalists. But it is not generally realized that the Socialist countries now also have multinational enterprises. Some of them carry on their activities in more than one Socialist country, but in addition there is a surprisingly large number operating in the capitalist world — with subsidiaries and associates in Western and less-developed countries. In this chapter we shall examine the question of the Socialist ownership of the means of production in foreign countries from the ideological point of view, then the nature and operation of multinationally-owned enterprises in Comecon,¹ Socialist banking and financial institutions in the West and finally the Socialist enterprises engaging in production and marketing in capitalist countries.