In the light of the Google tax debacle, there could be only one answer to the question posed by the BBC News website.
Google has become the world’s most valuable company by creating favourable relationships with national governments. Nowhere is this more clearly demonstrated than by that between the UK government (on the left in the image that follows) and Google itself, which may be summed up thus:
It doesn’t sell anything you could pick up and put in your pocket. We never pay it any money directly.
Yet now, after its latest earnings report, Google’s parent company Alphabet has a market capitalisation larger than Apple’s as shares rose sharply in after-hours trading. That makes it the most valuable company in the world.
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