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119-702: Aramex is an Emirati multinational logistics, courier and package delivery company based in Dubai , United Arab Emirates . The company was founded by Fadi Ghandour and Bill Kingson in 1982 in Amman , Jordan . It is the first Arab-based company to be listed on the NASDAQ stock exchange. Aramex is listed on the Dubai Financial Market . Othman Aljeda is CEO of the company. Aramex has approximately 18,000 employees in 70 countries. Thomas Friedman profiled

238-463: A Fresh Dialogues interview, Friedman replied, "You detect the envy of someone who wants his own government to act democratically with the same effectiveness that China can do autocratically." Likewise, in a 2011 interview with the BBC Friedman says that he wants his children to live in a world where "there's a strong America counterbalancing a strong and thriving China, and not one where you have

357-672: A South African logistics firm in December 2011. PayPal partnered with Aramex in 2012. The partnership gave PayPal credibility in the Middle East while opening up new markets abroad for Aramex. Aramex developed REDe, a solution aimed at enabling companies to begin selling their products online, in early 2012. ShopGo, an e-commerce solution, released Aramex Suite in August 2013. The module enabled e-commerce stores to automatically access several of Aramex's services. Aramex launched Aramex Bio,

476-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

595-484: A big gate — but a smart gate." After the September 11 attacks in 2001, Friedman's writing focused more on the threat of terrorism and the Middle East. He was awarded the 2002 Pulitzer Prize for Commentary "for his clarity of vision, based on extensive reporting, in commenting on the worldwide impact of the terrorist threat". These columns were collected and published in the book Longitudes and Attitudes . For

714-652: A comprehensive attempt to end the Arab–Israeli conflict by normalizing Arab relations with Israel in exchange for the return of refugees alongside an end to the Israel territorial occupations . Abdullah proposed the Arab Peace Initiative at the Beirut Summit that March, which Friedman has since strongly supported. Friedman received the 2004 Overseas Press Club Award for lifetime achievement and

833-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

952-486: A deadline." Iran's Great Weakness May Be Its Oil , by Thomas Friedman, challenges and debates conflicts about oil. Friedman states,"The best tool we have for curbing Iran's influence is not containment or engagement, but getting the price of oil down in the long term with conservation and an alternative-energy strategy . Let's exploit Iran's oil addiction by ending ours". In Hot, Flat, and Crowded , he says that "any car company that gets taxpayer money must demonstrate

1071-715: A degree in Mediterranean studies. Friedman also pursued Arabic studies at The American University in Cairo , where he graduated in 1974 from its Arabic language unit (ALU). Friedman later taught a class in economics at Brandeis in 2006, and was a commencement speaker there in 2007. After graduating from Brandeis, he attended St Antony's College at the University of Oxford as a Marshall Scholar , earning an M.Phil. in Middle Eastern studies . Friedman joined

1190-534: A form of "educating" Israel's opponents; according to FAIR, Friedman was explicitly endorsing terrorism by Israel against Lebanese and Palestinians. Journalist Glenn Greenwald and professor Noam Chomsky also accused Friedman of endorsing and encouraging terrorism by Israeli forces. Political reporter Belen Fernandez heavily critiques Friedman's commentary regarding Israel. Among other criticisms, Fernandez singles out Friedman's suggestion that Israeli forces were unaware that their allied Lebanese militias carried out

1309-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

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1428-454: A group of world powers (the P5+1 ). In Friedman's interview, he mentioned that "Our view of the Middle East is deeply colored by Israel, Saudi Arabia and Turkey and they all have their own interest. 15 of the 19 hijackers on 911 were from Saudi Arabia, none from Iran! Iranians had a spontaneous demonstration to support Americans on 911." He added, "What strikes you most about Iran (vs. Saudi Arabia)

1547-956: A low-priced alternative to New Zealand Post and Freightways-owned New Zealand Couriers and Post Haste. Aramex has a poor reputation for service in New Zealand, with recurrent reports of delayed, damaged and misdelivered parcels, as well as poor customer support from a team which is largely based overseas. Their business model has come under significant criticism from former and current employees, franchisees, labour advocates and WorkSafe, New Zealand's workplace safety advocate, with one critic calling it "destructive, exploitative and dangerous". Under this model, Aramex sells regional franchises, who in turn sell or subcontract “routes” or “territories” within their regions to individual contractor-drivers. These contracts can cost up to $ 20,000, excluding vehicles, uniforms and equipment like electronic scanners. Contractor-drivers pay their own costs, with Aramex paying

1666-713: A medical courier service, in March 2014. The service was launched in the Middle East and North Africa. In June 2014, Aramex acquired Mail Call Couriers, an Australian courier service, which at the end of 2016 was acquired by Australia Post. In January 2016, Fastway Couriers , a New Zealand-based courier service with operations in New Zealand, Australia, South Africa and Ireland, announced that Aramex had acquired its New Zealand and Australian operations. In 2019, Aramex acquired Saudi Tal for Commerce and Contract Company to expand its operations in Saudi Arabia. In October 2021, GeoPost,

1785-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

1904-439: A per-item fee that is set by them. These can reportedly be as low as NZ$ 0.30 for a parcel booked through Trade Me . Just 20% of a regional depot's revenue is split evenly between the contractor-drivers (couriers), regardless of how large their regional franchises are, which has reportedly led to significant discrepancies in income depending on their territories. The remaining 80% is divided between regional franchisees and Aramex. As

2023-415: A plan for transforming every vehicle in its fleet to a hybrid-electric engine with flex-fuel capability, so its entire fleet can also run on next generation cellulosic ethanol ". In a Fresh Dialogues interview, Friedman described his motivations for writing the book: "My concern is about America.... Demand for clean energy, clean fuel and energy efficiency is clearly going to explode; it's going to be

2142-504: A president who was going to call the game with China. And Trump has done it, with I would say more grit and toughness than any of his predecessors. I give him credit for that." In November the same year, Friedman observed that Xi Jinping had brought about "an end to four decades of steady integration of China’s economy with the West". As the Iran nuclear deal agreement reached between Iran and

2261-405: A radical-centrist candidate for the 2012 U.S. presidential election . That column decried "the two-party duopoly that has dominated American political life". Friedman's radical-centrist columns received a considerable amount of criticism, particularly from liberals. Friedman's wife, Ann (née Bucksbaum) is a teacher and a native of Marshalltown, Iowa . A graduate of Stanford University and

2380-461: A result, contractor-drivers have reportedly been forced to work 6 or 7 days per week most weeks, and up to 16 hours per day, to complete pre-determined pickups and clear parcel backlogs from retail customers like Briscoes , Rebel Sport and Temu , or risk either being penalised or being forced to pay up to $ 50 per hour to contract someone else to assist with this work. Many have reportedly being forced to do work such as sorting parcels at depots, which

2499-661: A result, research from courier advocacy group ProDrive found Auckland Aramex contractors earning an average of NZ$ 12.78 per hour before tax in 2021 (well below the minimum wage of NZ$ 20 per hour), while others have reported similar take-home incomes of between NZ$ 11–12 per hour before tax. Despite being legally independent contractors, and despite recruitment advertising promoting the chance to "be your own boss" and "work your own hours," they are reportedly prohibited from refusing work assigned to them, and are at risk of being financially penalised, or stripped of their territory, for failing to meet predetermined “key performance indicators”. As

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2618-580: A series of acquisitions, including Priority Airfreight, InfoFort, Freight Professionals and TwoWay-Vanguard. World-renowned writer and columnist Thomas Friedman used Aramex in his book, The World Is Flat , as an example of companies that benefit from what he calls "the flattening of the world." The flattening of the world is the leveling of the economic field and the destruction of "barriers to entry" to collaborate or compete globally. In February 2011, Aramex acquired OneWorld Courier and In-Time Couriers, two Kenyan courier firms. Aramex acquired Berco Express,

2737-562: A small market such as the Middle East . The partnership made Aramex responsible for Airborne's business in the region. Aramex moved its headquarters to Dubai, United Arab Emirates in 1985. Aramex gained Federal Express as a client in 1987. In the first year of the partnership, 30% of Aramex's revenue came from packages originating from the Federal Express network. Airborne Express acquired 9% of Aramex for US$ 2 million. Aramex

2856-515: A strong and rising China and an America that is uncertain, weak and unable to project power economically and militarily it historically did." Friedman's work is popular in China. His book The World is Flat was a bestseller in the country, although criticism of China in the book was removed when it was published in the country. A translated version of his article from The New York Times , "China Needs Its Own Dream", has been credited with popularizing

2975-461: A visit there in December 1968, and he spent all three of his high school summers living on Kibbutz HaHotrim , near Haifa . He has characterized his high school years as "one big celebration of Israel's victory in the Six-Day War ." Friedman studied at the University of Minnesota for two years, but later transferred to Brandeis University and graduated summa cum laude in 1975 with

3094-487: A while, his reporting on post-9/11 topics led him to diverge from his prior interests in technological advances and globalization, until he began to research The World Is Flat . After the 7/7 London bombings , Friedman called for the U.S. State Department to "shine a spotlight on hate speech wherever it appears", and to create a quarterly "War of Ideas Report, which would focus on those religious leaders and writers who are inciting violence against others". Friedman said

3213-559: Is most worried about successfully maintaining Israel's Jewish ethnocracy and actively opposing a "one-man, one-vote" system of democracy. Friedman has also come under criticism from supporters of Israel. In an op-ed, Yitzhak Benhorin criticized Friedman's alleged suggestion that Israel relinquish territory it had occupied in the 1967 Middle Eastern War. Friedman sparked criticism for writing that congressional ovations for Israeli Prime Minister Benjamin Netanyahu were "bought and paid for by

3332-495: Is not technically part of their job remit, alongside their obligated delivery and pickup runs. Reports of exhaustion, accidents and near-misses by contractor-drivers, including one who fell asleep at a Christchurch intersection in 2024, are common. Multinational corporation Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with

3451-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

3570-409: Is that Iran has real politics... A country of 85 million people, a great civilization, many educated men and women, if they want to get a bomb they will get it. They have demonstrated they could do it under the most severe sanctions... Show me where Iranians have acted reckless [like Saddam Hussein]. These are survivors." On February 2, 2024, Friedman penned a allegorical op-ed entitled, "Understanding

3689-468: Is tracking you much more today. If you are worried about privacy, then you shouldn't be using Google, Facebook, Twitter, any of these things. They are tracking you so much more than the Indian government is tracking you. What's worse is that they are selling it [information about you] for profit. So, I think the privacy concern [around Aadhaar] is bogus. Friedman first discussed his views on globalization in

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3808-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

3927-591: The 1999 NATO bombing of Yugoslavia , Friedman wrote the following in The New York Times on April 23, 1999: "Like it or not, we are at war with the Serbian nation (the Serbs certainly think so), and the stakes have to be very clear: Every week you ravage Kosovo is another decade we will set your country back by pulverizing you. You want 1950? We can do 1950. You want 1389 ? We can do 1389 too." Friedman urged

4046-546: The First Palestinian Intifada . He wrote a book, From Beirut to Jerusalem , describing his experiences in the Middle East, which won the 1989 U.S. National Book Award for Nonfiction . Friedman covered Secretary of State James Baker during the administration of President George H. W. Bush . Following the election of Bill Clinton in 1992, Friedman became the White House correspondent for

4165-504: The Israel lobby ." A letter from the American Jewish Committee objected that "Public opinion polls consistently show a high level of American ... support for and identification with Israel. This indicates that the people's elected representatives are fully reflecting the will of the voters." Friedman responded to criticism by writing: "In retrospect I probably should have used a more precise term like 'engineered' by

4284-648: The London School of Economics , she is the daughter of real estate developer Matthew Bucksbaum , whom Friedman describes as his "best friend". They were married in London on Thanksgiving Day 1978 and live in an 11,400-square-foot mansion in Bethesda, Maryland . They have two daughters, Orly (born 1985) and Natalie (born 1988). Friedman supported Hillary Clinton for President of the United States in

4403-601: The Middle East , globalization , and environmental issues . Friedman began his career as a reporter and won two Pulitzer Prizes in the 1980s for his coverage on conflict in Lebanon and politics in Israel, followed by a further prize in 2002 for commentary on the war on terror . Friedman was born on July 20, 1953, in Minneapolis, Minnesota , the son of Margaret Blanche (née Phillips) and Harold Abe Friedman. Harold, who

4522-597: The New York Times . In 1994, he began to write more about foreign policy and economics , and moved to the op-ed page of The New York Times the following year as a foreign affairs columnist. In 2002, Friedman won the Pulitzer Prize for Commentary for his "clarity of vision, based on extensive reporting, in commenting on the worldwide impact of the terrorist threat." In February 2002, Friedman met Saudi Crown Prince Abdullah and encouraged him to make

4641-600: The Pulitzer Prize for International Reporting (shared with Loren Jenkins of The Washington Post ). Alongside David K. Shipler , he also won the George Polk Award for foreign reporting. In June 1984, Friedman was transferred to Jerusalem , where he served as the New York Times Jerusalem Bureau Chief until February 1988. That year he received a second Pulitzer Prize for International Reporting, which cited his coverage of

4760-524: The Sabra and Shatila massacre while under their guard, contradicting the assessments of other journalists and observers; his encouragement of strong-armed force by the Israeli army against Palestinians; and his opposition to settlements only on the grounds that they are counter-productive, rather than because they violate international law or cause suffering for Palestinians. Fernandez suggests that Friedman

4879-644: The Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over the VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization ,

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4998-565: The golf course for a round after work, wanted to be a professional golfer. He played a lot of sports, and became serious about tennis and golf. He caddied at a local country club and in 1970 caddied for professional golfer Chi Chi Rodriguez when the US Open came to town . Friedman is Jewish . He attended Hebrew school five days a week until his Bar Mitzvah , then St. Louis Park High School , where he wrote articles for his school's newspaper . He became enamored with Israel after

5117-781: The history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include

5236-680: The Biden government’s changing diplomatic approach toward Israel. Following the outbreak of the 2023 Israel–Hamas war , Friedman urged Israel against military over-reach and further settlement expansions, saying to do so otherwise would risk destabilizing the region and the US-Israel alliance. In September 2009, Friedman wrote an article praising China's one-party autocracy , saying that China's leaders are "boosting gasoline prices" and "overtaking us in electric cars, solar power, energy efficiency, batteries, nuclear power and wind power." The article

5355-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

5474-663: The European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in the 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from

5593-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

5712-660: The Israel lobby – a term that does not suggest grand conspiracy theories that I don't subscribe to." Friedman hailed the Trump-brokered peace agreement between Israel and the United Arab Emirates as "exactly what Trump said it was in his tweet: a 'HUGE breakthrough. ' " In July 2023, as the Netanyahu’s government proposed new laws leading to judicial reform intended to limit the powers of Israel’s Supreme Court , Friedman wrote an opinion piece supporting

5831-504: The London bureau of United Press International after completing his master's degree. He was dispatched a year later to Beirut , where he lived from June 1979 to May 1981 while covering the Lebanon Civil War . He was hired by The New York Times as a reporter in 1981 and re-dispatched to Beirut at the start of the 1982 Israeli invasion of Lebanon . His coverage of the war, particularly the Sabra and Shatila massacre , won him

5950-641: The Middle East Through the Animal Kingdom", in which he posited Iran as a metaphorical "parasitoid wasp" with proxies in Yemen, Lebanon, Iraq, and Syria, as caterpillars. Friedman claimed "We [America] have no counterstrategy that safely and efficiently kills the wasp without setting fire to the whole jungle", suggesting that America militarily destroy the entire Middle East to annihilate Iran and its allies. He concluded that he could "contemplate"

6069-440: The Middle East by watching Animal Planet. The New Arab reported that it has been criticized for racism and orientalism . In the 2010s, Friedman wrote several columns supporting the politics of radical centrism . In one he stated that, if the "radical center wants to be empowered, it can't just whine. It needs its own grass-roots movement". In another column Friedman promoted Americans Elect , an organization trying to field

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6188-582: The Middle East would force other countries in the region to liberalize and modernize. In his February 9, 2003, column for The Wall Street Journal , Friedman also pointed to the lack of compliance with the United Nations Security Council Resolution regarding Iraq 's weapons of mass destruction : The French position is utterly incoherent. The inspections have not worked yet, says Mr. de Villepin, because Saddam has not fully cooperated, and, therefore, we should triple

6307-511: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

6426-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

6545-533: The Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for the world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902)

6664-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

6783-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

6902-660: The US to destroy "in Belgrade: every power grid, water pipe, bridge [and] road", annex Albania and Macedonia as "U.S. protectorates", "occupy the Balkans for years", and "[g]ive war a chance." Fairness and Accuracy in Reporting (FAIR) labeled Friedman's remarks "war-mongering" and "crude race-hatred and war-crime agitation". Steve Chapman, critical of the response taken by NATO, referred to Friedman as "the most fervent supporter of

7021-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

7140-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

7259-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

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7378-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

7497-477: The United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

7616-585: The United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for

7735-506: The United States' lack of energy independence . He has stated, "First rule of oil—addicts never tell the truth to their pushers. We are the addicts, the oil producers are the pushers—we've never had an honest conversation with the Saudis." In 2007, Friedman viewed American immigration laws as too restrictive and damaging to U.S. economic output: "It is pure idiocy that Congress will not open our borders—as wide as possible—to attract and keep

7854-629: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

7973-456: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

8092-640: The air war" and ironically asked in the Chicago Tribune : "Why stop at 1389? Why not revive the idea, proposed but never adopted in Vietnam, of bombing the enemy all the way back to the Stone Age?" Norman Solomon asserted in 2007 that "a tone of sadism could be discerned" in Friedman's article. Friedman supported the 2003 invasion of Iraq , writing that the establishment of a democratic state in

8211-488: The alliance and co-founded the Global Distribution Alliance (GDA), a global alliance of 40 express companies with combined revenues of US$ 7.5 billion. Aramex is chairing the alliance which uses a shipment management system developed by the company. Aramex went public on the Dubai Financial Market in February 2005. The IPO raised US$ 270 million. The company's revenue increased 23% over 2004 and net income increased 56% that year. As part of its expansion plans, Aramex concluded

8330-408: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

8449-526: The benevolent autocrat story" and that, "economists should retain their traditional skepticism for stories that have little good theory or empirics to support them." However, in a July 2012 article in the NYT, he also wrote that the current Chinese leadership has not used its surging economic growth to also introduce gradual political reform and that, "Corruption is as bad as ever, institutionalized transparency and rule of law remain weak and consensual politics nonexistent." When asked if he had "China envy" during

8568-521: The biometrics based Unique Identification program of India . When asked about the privacy concerns raised by the UID program in India he said: I am a huge enthusiast of the UID platform. I feel that is going to be a platform for innovation. Societies require these platforms where people are integrated with a trusted ID. I think concerns about privacy are bogus. The platform doesn't store anything about you except your biometrics. It's not tracking you. Facebook

8687-649: The book The Lexus and the Olive Tree (1999). In 2004, visits to Bangalore , India, and Dalian , China, led Friedman to write a follow-up analysis, The World Is Flat (2005). Friedman believes that individual countries must sacrifice some degree of economic sovereignty to global institutions (such as capital markets and multinational corporations ), a situation he has termed the "golden straitjacket". In 2000, Friedman championed Free Trade with The People's Republic of China, claiming that Free Trade would make China more democratic. He has also expressed concern about

8806-502: The business. After their discussion, Kingson proposed a partnership to establish a courier business in the Middle East with Ghandour. The company began operations in Amman, Jordan . Arab American Express aimed to become the first courier company in the Middle East. At the time there were no international courier companies based in the region because of logistical and bureaucratic challenges caused by civil wars and complex political relationships. The company's first international delivery

8925-681: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

9044-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

9163-541: The company and management control. Abraaj acquired 75% of Aramex and made 6% of its shares available to company employees in the form of stock. Between 2002 and 2003 Aramex's net income rose from US$ 4 million to US$ 10 million. In 2003, DHL acquired Airborne Express, Aramex's main United States partner. This resulted in Airborne Express exiting the Airborne Alliance. In the same year, Aramex took over

9282-465: The company in his book, The World Is Flat . Fadi Ghandour co-founded Aramex shortly after receiving his BA in political science from George Washington University , with his business partner, Bill Kingson in 1982. Kingson, a friend of Ghandour's father and owner of a small courier company in the New York tri-state area , discussed the business with Fadi Ghandour after he had expressed interest in

9401-533: The concept: "Now, I want to understand how a columnist's mind works when you take positions, because you were chided recently for writing several times in different occasions 'the next six months are crucial in Iraq.'" Friedman responded: "The fact is that the outcome there is unclear, and I reflected that in my column. And I will continue to reflect." Responding to prodding from Stephen Colbert , Friedman said in 2007: "We've run out of six months. It's really time to set

9520-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

9639-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

9758-540: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Thomas Friedman Thomas Loren Friedman ( / ˈ f r iː d m ən / FREED -mən ; born July 20, 1953) is an American political commentator and author. He is a three-time Pulitzer Prize winner who is a weekly columnist for The New York Times . He has written extensively on foreign affairs , global trade ,

9877-429: The distinction between legitimate dissent and terrorism" Mr. Rubin said, "and an open society needs to maintain a clear wall between them." As part of their response to this column, the editors at FAIR encouraged their readers to contact Friedman and inform him that "opponents of the Iraq War do not deserve to be on a government blacklist-even if they oppose the war because they believe it encourages terrorism". During

9996-410: The evidence, and stated plainly that converting Iraq to democracy "would be a huge undertaking, though, and maybe impossible, given Iraq's fractious history". In January 2004, he participated in a forum on Slate called " Liberal Hawks Reconsider the Iraq War", in which he dismisses the justification for war based on Iraq's lack of compliance with the U.N. Resolutions: The right reason for this war …

10115-542: The express parcel arm of French Groupe La Poste, acquired a 20.15% stake in Aramex. The company supported the Ruwwad Al Tanmeya initiative in 2006. The initiative aimed to involve the private sector in spurring community development through youth empowerment and investments in the community through education, civic engagement, and volunteering. Aramex has a twenty percent stake in Ruwwad Al Tanmeya. Aramex became

10234-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

10353-496: The first company in the region to release an annual sustainability report in 2006. The company joined the United Nations Global Compact, the world's largest global corporate citizenship initiative, in 2007. Aramex has operated in New Zealand and Australia since 2016, when it acquired the operations of Fastway Couriers . These were rebranded to Aramex in 2019. Aramex competes in the New Zealand market as

10472-434: The governmental speech-monitoring should go beyond those who actually advocate violence, and include also those whom former State Department spokesperson Jamie Rubin calls "excuse makers". In his July 22 column, Friedman wrote against the "excuses" made by terrorists or apologists who blame their actions on third-party influences or pressures. "After every major terrorist incident, the excuse makers come out to tell us ... why

10591-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

10710-747: The idea of supporting the Kurds and Shias in a civil war against the Sunnis : "If they [the Sunnis] won't come around, we should arm the Shiites and Kurds and leave the Sunnis of Iraq to reap the wind." Critics of Friedman's position on the Iraq War have noted his recurrent assertion that "the next six months" will prove critical in determining the outcome of the conflict. A May 2006 study by Fairness and Accuracy in Reporting cited 14 examples of Friedman's declaring

10829-515: The incoherence of the American position to be an asset, arguing that "the axis-of-evil idea isn't thought through -- but that's what I like about it. (...) There is a lot about the Bush team's foreign policy I don't like, but their willingness to restore our deterrence, and to be as crazy as some of our enemies, is one thing they have right. It is the only way we're going to get our turkey back. After

10948-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

11067-470: The invasion, Friedman expressed alarm over the post-invasion conduct of the war by the George W. Bush administration. Nevertheless, until his piece dated August 4, 2006 (see below), his columns remained hopeful to the possibility of a positive conclusion to the Iraq conflict (although his optimism appeared to steadily diminish as the conflict continued). Friedman chided George W. Bush and Tony Blair for "hyping"

11186-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

11305-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

11424-434: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

11543-480: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

11662-541: The next "few months" or "six months" as a decisive or critical period, dating from in November ;2003, describing it as "a long series of similar do-or-die dates that never seem to get any closer". The blogger Atrios coined the neologism " Friedman Unit " to refer to this unit of time in relation to Iraq, noting its use as a supposedly critical window of opportunity. In a live television interview aired June 11, 2006, on CNN , Howard Kurtz asked Friedman about

11781-624: The next great global industry. I know that as sure as I know that I'm sitting here at De Anza College talking to you. By being big in the next big thing, we'll be seen by the rest of the world as working on the most important problem in the world." Some of Friedman's environmental critics question his support of still-undeveloped coal pollution mitigation technology ("clean coal") and coal mining as emblematic of Friedman's less than "green" commitment to renewable energy. Friedman has been criticized by organizations such as Fairness and Accuracy in Reporting for defending Israeli airstrikes in Lebanon as

11900-457: The number of inspectors. But the inspections have failed not because of a shortage of inspectors. They have failed because of a shortage of compliance on Saddam's part, as the French know. The way you get that compliance out of a thug like Saddam is not by tripling the inspectors, but by tripling the threat that if he does not comply he will be faced with a U.N.-approved war. Nevertheless, he found

12019-411: The phrase " Chinese Dream " in China, a term that was later adopted as a slogan by Xi Jinping . Friedman, in the magazine Foreign Policy , has attributed the phrase to Peggy Liu and her environmental NGO JUCCCE. In September 2020, Friedman told CNBC that "Trump is not the American president America deserves, in my opinion. But he definitely is the American president China deserved. We needed to have

12138-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

12257-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

12376-669: The same year was named to the Order of the British Empire by Queen Elizabeth II . In May 2011, The New York Times reported that President Barack Obama "has sounded out" Friedman concerning Middle East issues. Friedman has been criticized for his staunch advocacy of the Iraq War , as well as unregulated trade, and his early support of Saudi Royal Prince Mohammed bin Salman . Friedman has publicly expressed his support for

12495-462: The seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and the international oil market. Iran was unable to sell any of its oil. In August 1953,

12614-407: The terrorists acted. These excuse makers are just one notch less despicable than the terrorists and also deserve to be exposed. When you live in an open society like London, where anyone with a grievance can publish an article, run for office or start a political movement, the notion that blowing up a busload of innocent civilians in response to Iraq is somehow "understandable" is outrageous. "It erases

12733-459: The then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by the strong influence of

12852-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

12971-521: The world's first-round intellectual draft choices in an age when everyone increasingly has the same innovation tools and the key differentiator is human talent." After visiting the San Ysidro Port of Entry in San Diego, California in early April 2019, Friedman wrote, "The whole day left me more certain than ever that we have a real immigration crisis and that the solution is a high wall with

13090-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

13209-527: Was a document for the Housing Bank for Trade and Finance based in Jordan to New York City . Within two years, the company's name was shortened to Aramex. In 1984, the company's operations were less than US$ 1 million in revenue. That year, Aramex offered Airborne Express 50% ownership of the company for US$ 100,000 but Airborne Express declined the offer because it did not have the resources to invest in

13328-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

13447-427: Was in turn subject to critical analysis: Matt Lewis who wrote, "Friedman's apparent wish for a 'benign' dictator is utopian, inasmuch as it ignores Lord Acton's warning that 'absolute power corrupts absolutely.'" and William Easterly who quotes Friedman's one-party autocracy assertions as part of his academic paper in which he concluded that, "Formal theory and evidence provides little or no basis on which to believe

13566-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

13685-549: Was listed on the NASDAQ stock exchange in January 1997. The company became the first Arab-based company to trade its shares on an American stock exchange. Aramex's valuation was US$ 24 million and the IPO raised US$ 7 million. The company accrued US$ 66 million in revenue. The company expanded its operations to 120 locations in 33 countries, primarily emerging markets in the Middle East and Southeast Asia by 2001. The company's strategy

13804-501: Was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore,

13923-583: Was to enter high-growth markets characterized by high populations and liberalizing economies. During summer 2001, Abraaj Capital , the first private equity firm in the Middle East, proposed Aramex a leveraged buyout offer that would take the company off of the NASDAQ stock exchange. The deal was accepted and Abraaj Capital acquired the majority of Aramex for US$ 65 million in February 2002. The deal allowed Kingson and Airborne to exit, while Ghandour retained 25% of

14042-629: Was to oust Saddam's regime and partner with the Iraqi people to try to implement the Arab Human Development report's prescriptions in the heart of the Arab world. That report said the Arab world is falling off the globe because of a lack of freedom, women's empowerment, and modern education. The right reason for this war was to partner with Arab moderates in a long-term strategy of dehumiliation and redignification. In his September 29, 2005, column in The New York Times , Friedman entertained

14161-574: Was vice president of a ball bearing company, United Bearing, died of a heart attack in 1973 when Tom was nineteen years old. Margaret, who served in the United States Navy during World War II and studied Home Economics at the University of Wisconsin , was a homemaker and a part-time bookkeeper . Margaret was also a Senior Life Master duplicate bridge player, and died in 2008. Friedman has two older sisters, Shelly and Jane. From an early age, Friedman, whose father often took him to

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