text: attempt both to influence and ·outguess governmental readjustments to rule-of-origin definitions in light of "Europe 1992" proposals and the United States/Canada Free Trade Agreement. · In debate over extending the voluntary restraint agreement that protects the United States steel industry; 34 members of California's congressional delegation support a bid for increased semi-finished steel imports deemed essential by California Steel Industries, "a major state business" jointly owned by Brazilian and Japanese steel companies whose imports come largely from related new extraction and production facilities in Brazil. 20/ Many United St.ates corporations evell view the development-oriented Generalized System of Preferences as critical to their competitiveness, arguing that excluding some newly·industrializing countries would raise component import costs by tens of billions of dollars. ''B. ~. Impact of change on the United Nations code 1. Need for the code 36. Developments over the past two decades have enlarged the role of transnational corporations in the international system while in the-pl'ocess altering the transnational corporation universe. Both these impacts, and the interactive relationship between them, need to be assessed in relation to the rationale and prospects for a code on transnational corporations. Are past motivating factors sti1l relevant; · are code·discussions in the United Nations directed at appropriate political and e·conomic -objectives; more specifically, are these entities, their acti vi t·ies and their impact· important .. enough to warrant a framework: and are these activities sufficiently international that they require an international regime? 37. Transnational corporations are· fast becoming the lynchpin for world economic activity, particularly in the most dynamic sectors of information-based technology and services. Transnational corporations act as a vehicle for organizing and integrating trade, investment and monetary transactions across national borders. Technological advances allow, and competitive pressures · require, l11at enterprises "go g1obal". 38. Although this change is by no means on a large scale, it has t.wo important 
analysis: The text appears to focus on the role of transnational corporations in international trade, their impact on national economies, and the need for a code to regulate their activities. It mentions specific industries such as steel and technology, and references international agreements and agreements. The text also touches on the relationship between governments and corporations.