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Maoist Baggage

a substantial amount of relevant information, is generally well aware of the issues involved and takes a balanced view of the role of service TNCs in the global economy and the likely impact of LDCs. It notes that while the services provided by TNCs may be necessary for LDCs to compete in world commodity markets, establishment of branches and subsidiaries is contingent on having an adequate supply of skilled people as modern services are skill-intensive. It also states that the pos sibility of factor substitution is more limited in production of such services. Therefore, LDCs could not become internationally competitive in production of services as they have in the production of goods through using their abundant cheap labour. Many services are capital-intensive so that their employment potential would be limited. The MS volume is much more ideologically driven. While the first part is interesting and the analysis rigorous the sector and country papers are disappointing.

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