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Sima Wali answers the following question

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Question

Are brands more powerful than governments? Barcelona Forum 2004


Answer

Sima Wali: Governments are much more powerful, but governments are losing power to corporations. If you define the brand as a metaphor, corporations is led by globalization, that’s led by corporations. Corporations do not have the power or restrictions placed upon them and are only responsible to their shareholders. In the West, the governments are losing power to corporations. When governments are elected, they develop laws that support the corporations.