An Imperative for Multinational Enterprise in an Era of Globalisation This paper examines the consequences for political economy and multinational enterprise in the aftermath of the resolution of the Uruguay Round for economies such as India. The culmination of the GATT process occurred in circumstances which were altogether unexpected when negotiations commenced in 1986. The collapse of the Eastern Bloc and the disintegration of the Soviet Union produced a deterioration, during the period of the negotiations, in the confidence of advocates of planned socialism in terms of state regulation of the economy which was to prove decisive. This erosion of confidence permitted a comprehensive victory for the promoters of global free trade, in the context of capitalism, at Marrakech in 1994. The paper scrutinises how a combination of events unlooked for in December 1993 have altered the state of affairs reflected in the Marrakech Agreement.
