Nowadays, globalization, alongside the emergence of international enterprises allows people from all parts of the world to connect to the worldwide market. The opinion given in the prompt suggests that this expansion has positive impacts on every individual. However, many people, including myself, feel the trend fails to make sense in two fronts: the prevention of cultural connotation and local company’s development.
A school of thought holds that multinational organizations, which are appearing more in some underdeveloped countries today, do a disservice to local brands. Due to customer preference, people usually lean toward a sense of novelty and modernization, thus reducing their prior interest in traditional products. It therefore seems quite likely to deter the considerable profits that are potentially achieved, giving rise to a chain of bankruptcy of small enterprises. To cite a simple example, the integration of many giant company systems in Vietnam, such as Walmart and McDonald’s, drives people to experience their overseas products and services, thereby decreasing the competitive ability of local and start-up companies.
Moreover, globalization also plays a detrimental role in preserving cultural identity. The fact is that many citizens do not have sufficient national awareness and appreciation, while the extremely engrossing new world can make them forget their roots. A good illustration of this is that numerous Vietnamese teenagers nowadays, for instance, are trying hard to keep up with their peers to show a lavish life by purchasing extravagantly authentic products from Nike, and Adidas and thus ignoring traditional values, such as conical hats. Therefore, this would inevitably make life very difficult to balance between blending in a more modern era and conserving the cultural connotation.
In conclusion, with all of the aforementioned points, I strongly disagree that the expansion of multinational companies and globalization is beneficial for everyone, as it fails to protect the advantages of local companies and national values.