There is a view fashionable in the media that the world is being taken over by huge multinational corporations, accountable to no one. This allows the argument against globalisation to be depoliticised, reducing it to single issues of "ethical trading" and "codes of conduct", and inviting its co-option. Above all, it misses the point that state power in the west is accelerating. (We are republishing this article with the permission of John Pilger, August 20, 2001)