The role and economic power of corporations that dominate the world economy has generated considerable controversy. The most heated debate, and the most critical questions, surrounding the role of multinational corporations has to do with foreign direct investment (FDI). This book takes an entirely different view of the role of multinationals and the development impact of FDI. It argues that imperialism is a much more useful concept for describing and explaining the dynamics of world development than globalization. FDI is a mechanism for empire-centred capital accumulation, a powerful lever for political control and for reordering the world economy. This is a much needed analysis of global capitalism and its impact around the world which makes this study an excellent resource for students, academics and activists.