47. Actions on the goverwnental side also push the significance of the expropriation/compensation debate further and further from meaningful reality. The historically central stake for developing countries in this issue was l:c.> reassert their permanent sovereignty over natural resources. National sovereignty is now an accepted fact, not an objective. Dealings with transnat.ional corporations are pursued in the context of more equal bargaining over the market terms of a contract. Indeed, the initial emphasis on local ownership as tl1e embodimen t of national control over an investment is now a less import.ant objective for many countries, which may aim instead at capturing a larger share of the economic benefits that derive from a transnational corporation's non-equity competitive advantages. I ••• E/C.1O/1990/5 English Page 16 3. Application of the code objectives to contemporarx transnational corporations 48. The broad objectives for a Unitecl Nations code of conduct on transnational corporations have been described as follows: "The United Nations _ code of conduct on ti::-ansnational corpo1 ·ations is meant to provide a stable , predictable and transparent framework that would facilitate the flow of resources across national boundaries and thereby enhance the role of foreign investments in economic and industrial growth. At the same time, the code is meant to minimize any negative effects associated with the activities of transnational corporations." 21/ ... 49. This goal -to maximize the positive and minimize the negative -is still essentially valid and unobjectionable. Applying these objectives to the contemporary cast of transnational corporations, however, requires intensified efforts to match code concepts and transnational corporation st1·uctures. The types of transnational corporation changes outlined in the chapter above point to a rather qualitative mix incapsulated in the overall concept of a transnational corporation. The key to addressing the mixed range of contemporary transnational corporations with a code lies in stressing the code's functional approacl1, based on 
**Analysis**
The text appears to be discussing the role of transnational corporations in economic development, specifically in relation to the extraction of natural resources and the impact on developing countries. The author highlights the importance of reasserting national sovereignty over natural resources and minimizing negative effects associated with transnational corporations. The text also mentions the need for a stable, predictable, and transparent framework to facilitate foreign investments. These themes suggest that the text is more closely related to economic development and international trade.

**Category**
Economic development, International trade