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Reading Summary - East India, The Company that Ruled the Waves.docx

4 Pages
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Department
Geography
Course Code
Geography 3422A/B
Professor
Milford Green

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East India The Company that Ruled the Waves 4/7/2013 2:22:00 PM East India, The Company that Ruled the Waves  There is a good argument that the modern world began on a freezing New Year’s Eve, in 1600, when Elizabeth I granted a company of 218 merchants a monopoly of trade to the east of the Cape of Good Hope  East India Company o One of the first companies to offer limited liability to its shareholders o It laid the foundations of the British empire o It was the first state-backed company to make its mark on the world  State-controlled companies account for 80% of the market capitalization of the Chinese stock market, more than 60% of  Russia’s, and 35% of Brazil’s o They make up 19 of the world’s 100 biggest multinational companies and 28 of the top 100 among emerging markets o Thirteen of the world’s biggest oil companies are state- controlled  Many of today’s state-owned companies are monopolies or quasi- monopolies: o Brazil’s Petrobras o China Mobile o China State Construction Engineering Corporation o Mexico’s Federal Electricity Commission  Although the East India Company flourished a long time ago in a different world, its growth, longevity and demise have lessons for those who run today’s state companies
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