that both responds to and reinforces global macro-economi c and technological change. Many of these changes are reflected in shifting aggregate investment trends but incorporated within the evolution of individual transnational corporation structures and operations . In several fundamental respects, the transnational corporation universe has also changed. Transnational corporations now come in all shapes and sizes from many different countries, supplying an evolving array of products and services through complex but fluid business arrangements. These changes diffuse power in many transnational business networks and weaken the ability of single national Governments to direct and control the full impact of transnational corporation activities. (a} .cha..nging numbers ang sectors 22. Available statistics do not allow precise calculations. but some conclusions are possible with regard to the changes in the composition of transnational corporations. Some 600 firms are now part of a "billion dollar club" that generates roughly 20 per cent of total value-added in manufacturing and agriculture, although about 70 large transnational corporations account for one half of the sales. Twenty years ago, some 60 transnational corporations accounted for 50 per cent of the foreign direct investment total. Those figures have not changed much, but the composition of the club is now different. Corporations based outside the United States increased their representation among the top dozen or so firms in key product sectors, reflecting the diffusion of economic power and a more diversified competitive structure. The large number of small to medium-sized firms that invest abroad appear to move first into similar developed countries. These smaller transnational corporations appear to be growing in the degree of their I• • • E/C.10/1990/5 English Page 10 global involvement, while the ratio of foreign to domestic sales cU11ong larger transnational corporations has remained roughly the same. 12/ 
**Analysis**
The text discusses the changing landscape of transnational corporations, their growth, and their impact on the global economy. It highlights the increasing representation of corporations from outside the United States, the growth of smaller transnational corporations, and the shift in investment trends. The text does not specifically focus on natural resources, environmental issues, or humanitarian aid, and it does not mention health, education, employment, culture, or humanitarian aid. It appears to be more focused on the economic aspects of transnational corporations.

**Category**
Industry, International trade