The Economist, December 6, 2007" title="External link to: The Economist, December 6, 2007" class="external">Developing World Firms Go Shopping in the West
A new report by the Boston Consulting Group reveals that developing world firms are growing fast and spreading into foreign markets. The list of 100 firms consists of multinationals which are expanding overseas aggressively.
So why have they ventured abroad? 16 of the 41 Chinese firms listed are owned by the Chinese government, and move on its orders, while others go in search of resources or cash in on the high prices of metals and other commodities. Of course, some firms just want to be the biggest and the best.
How should old-timer multinationals respond? BCG suggests they fight developing-world multinationals abroad, so they don’t have to do it at home. Or just buy the upstarts before they get too big.
