In this collection of his latest essays, John H Dunning - renowned authority in international business - elaborates his theories on the current situation of foreign direct investment and multinational enterprises. Global Capitalism at Bay considers the unique characteristics of contemporary capitalism; and what must be done if it is to survive and prosper in the twenty first century. The book examines the marked reorientation in FDI and MNE activity over the last decade, based on two systemic structural changes in the global economy. One change is related to the renaissance of the market economy which has drawn in many previously closed economies, such as those of India, China or Russia. The second fundamental change relates to the maturation of the knowledge based economy, and the emergence of the internet as a dominant technological force. Both these changes are central to our understanding of contemporary capitalism. John H Dunning argues that there are great possibilities now for a fruitful alliance between the private and public sector in relation to the world's natural resources, yet at the same time there are implicit costs in combatative interaction between the main wealth creators not just to global capitalism, but also to the economic and social welfare of all people - rich or poor.