Many US companies have become global players. The technology giant IBM employs over 465,000 people and has revenues of roughly $100 billion. Although IBM’s headquarters is in Armonk, New York, the vast majority of its employees (more than 70 percent) actually work outside the United States. IBM, like many other US-based multinationals, now earns the majority of its revenues (roughly two-thirds) outside the United States[1]. IBM’s revenues in the BRIC countries have been growing at between 20 and 40 percent per year, while they have grown by only about 1 to 3 percent in developed markets such as the United
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