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The Rise of Spanish MultinationalsEuropean Business in the Global Economy\nAuthor(s): Mauro Guilln\nFormat: Paperback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9781107402713, 978-1107402713\nSynopsis\nSince 1992, Spanish companies in a variety of industries have acquired a prominent presence in the global economy, especially in Latin America and Europe. Companies such as Telefnica, Banco Santander, Repsol-YPF and Inditex (the owner of the Zara brand) have catapulted themselves to become major international competitors, making Spain one of the world's ten largest foreign direct investors. Mauro Guilln offers not only an explanation of why this has happened, but also an assessment of the economic, financial, political and social consequences for Spain and for Europe. In this 2005 analysis, he also addresses the weaknesses of the Spanish multinationals, especially their lack of proprietary technology and their primary focus on .