The decision of Multinational Corporations (MNCs) from the 1970s onwards to relocate production to low-wage Asian countries had major global effects. For the destination countries in Asia, such as China, India, and Vietnam, this relocation brought significant investment, employment opportunities, and rapid economic growth, lifting millions out of poverty. It integrated them deeply into the global economy. For the home countries in Europe and North America, this led to the loss of manufacturing jobs, causing unemployment and economic restructuring, often termed "deindustrialisation." This shift also stimulated global trade and competition, leading to lower prices for consumer goods worldwide. It fundamentally reshaped the international division of labour and created a new, more interconnected global economy.