“Globalization has managed to turn the world into a small village”, thus, the debate whether many nations should maintain markets that contain similar products is very controversial. Some people strongly support this strategy because, besides its economic buffering effect, it is also very beneficial to foreigners and immigrants living around the world, helping them reconnect with their authentic cultures; however, many others disagree, viewing this as a war against their local and authentic products. To discuss this, we will need to delve deeper.
On the one hand, firstly, economists insist that globalization has an extremely nourishing impact on the economy of every nation. Dr. Mathew Mclevain, from the University of Boston, states that global trade has helped many national markets to contain a variety of products. Creating high competition between several local and imported goods has played an essential role in lowering the prices and enhancing the quality of products, which is subsequently in favor of the consumers. Secondly, many foreign residents who relocate to new countries face cultural differences; thus, finding their favorite national food and clothes on supermarkets’ shelves in the countries they have moved to is simply a measure to reconnect with their original cultures. Furthermore, it helps them overcome the sense of expatriation.
On the other hand, many citizens are completely reluctant to accept these products and shop chains; they see them as an invasion of their authentic culture and, moreover, as a war against their local goods. Some recent research supports their ideas, as it depicts a massive decline in locally produced goods in some cities, explaining this as local products failing to keep competing against other imported goods with extremely lower prices.
In a nutshell, I believe that global trade is a must in the modern world; it is quite favorable to have local markets with a wide diversity of products and variable prices that serve every consumer. However, I also suggest that the government should monitor the markets; it should also give local and small businesses a chance to achieve fair progress and to maintain our nation’s authenticity.