IMF warns that tech giants stifle innovation and threaten stability
by Larry Elliott from Economics | The Guardian on (#4CCY2)
Fund report calls for profits to be targeted by a tougher international tax regime
The International Monetary Fund has warned that the market power exercised by a small number of global companies threatens to stifle innovation and make it harder for central banks to deal with recessions.
Adding its contribution to the growing public debate about the corporate power exercised by the US tech giants such as Google, Amazon, Apple and Facebook, the IMF said it would be concerned if there was any further increase in the clout of already dominant firms.
Related: Big tech has too much monopoly power - it's right to take it on | Kenneth Rogoff
Related: IMF chief joins calls for big tech firms to pay more tax
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