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But, like Google, these multinationals have for years been booking revenues from British customers through subsidiaries in other countries.
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But the multinationals have also learned a lot.
But as a class the multinationals have a good story to tell.
Don't these giant multinationals have publicists?
In the past decade 60% of the foreign purchases by these developing-country multinationals have been of companies in the rich world; in the past two years the proportion was 70%.In part, this may reflect the fact that the emerging economies recovered more quickly after the financial crisis, allowing their corporate champions to return more quickly to the acquisition trail.
Companies such as GE, Intel, and AstraZeneca have had some success in these endeavors, and all multinationals have the potential to secure the advantages of deploying a T-shaped structure.
But these days, when facing China, multinationals have been reluctant to file similar cases.
These hidden costs, many emerging multinationals have found, outweigh the monetary benefits of structural integration.
So attractive are these arrangements, that dozens of multinationals have set up intra-group lending operations through the Swiss branch of a Luxembourg subsidiary.
Of course, much higher commodity prices have boosted the spending power of many countries.Plenty of multinationals have spotted these trends already, of course; and any business worth its salt is pursuing the emerging markets.
First, these countries, which should be rich new export markets for multinationals, have become crippled bazaars of market failure and corruption.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com