INCREASED POLITICAL INFLUENCE OF INTERNATIONAL CORPORATIONS IN THE COURSE OF GLOBALISATION

Abstract

The article focuses on the study of the growing political influence of international corporations in the context of globalisation processes. The study shows that transnational companies are increasingly acting as alternative political actors capable of influencing strategic decision-making at both national and global levels. Their influence covers lawmaking, economic regulation, diplomacy, sanctions mechanisms, control over resources and the digital space. Particular attention is paid to the role of lobbying activities of ICs in the US and EU, which allows them to shape the regulatory framework in the interests of business. The paper emphasises that due to the huge financial, information and technological resources, corporations can compete with states in the sphere of influence on social processes, change the economic dynamics of regions and even influence foreign policy vectors.
The author notes that one of the most significant mechanisms of political influence of international corporations is participation in the formation of global economic ties, in particular through initiatives such as the Chinese project ‘One Belt, One Road’. At the same time, multinationals are able to exert political pressure, as demonstrated by the mass exodus of companies from the Russian market in 2022. The author also examines the ability of corporations to influence public opinion through information platforms, which creates new risks for democratic processes and requires enhanced regulation of the digital sphere. The environmental dimension of transnational companies' activities is also considered as a factor of political interaction, which necessitates international regulation of corporate responsibility.
The author concludes that international corporations have become independent political players whose influence requires the development of effective global regulatory mechanisms. Ensuring transparency of lobbying practices, protection of digital rights, control over the impact on democratic processes and strengthening environmental accountability should become the basis for a balanced interaction between states, business and civil society in the era of globalisation.