Multinationals, especially the tech companies, can be menace to our society and economy, especially a small nation like New Zealand. It's true that tech giants and other multinationals have an unfair advantage compared to local businesses. Last year, the iOS App Store alone racked up US$5 to US$6 billion in revenue, Macquarie said. In a new report, App Annie forecasts that the Chinese mobile app market will hit US$56.5b revenue in four years' time. Already, the Chinese mobile app market is the biggest in the world, thanks to a combination of rising wealth and people there loving smartphones; it's larger than the much richer United States even.

Source: New Zealand Herald April 18, 2017 16:52 UTC