A school of thought holds that worldwide goods should be expanded by global firms because of many benefits. While I acknowledge the reasoning behind that statement, I believe that this trend not only brings positive effects for people but also boosts the growth of the economy for that nation.
On the one hand, the growth of globalization might lead to some drawbacks. First of all, people need to face multiple choices when there are a variety of goods in the market. For example, a famous brand like Nike or Adidas will be prioritized when buying new shoes because of their quality and their reputation. As a result, this trend can change the purchase behavior because the locals will ignore local brands. Second, the distance from global firms can lead to disruption. To specify, the items from international companies need time to manufacture and deliver, unfortunately, the processes have some problems, and it requires a lot of time to maintain smooth operation. Vaccines or medicines from multinational companies are examples, local people need that medicine urgently but sometimes those products are out of stock and cannot be found on the market.
On the other hand, there are no arguments that multinational companies and global trade benefit our lives in many ways. To begin with, multinational companies contribute to the economy of both developing countries and developed countries. This trend can reduce the cost of production in developed nations and create more employment opportunities in developing areas. For example, Samsung, a technology organization from Korea has created a lot of jobs for Vietnamese and successfully tackled the high unemployment rate in Vietnam. Additionally, global trades bring products with lower prices and higher quality to each corner of the world. Therefore, local people will have the opportunity to access high-tech products and create competition for development in the current country. For example, many companies in Vietnam have a chance to adapt the innovation and technology from others in the world.
In conclusion, while the expansion of globalization companies can come with some drawbacks, I believe that the benefits are more than for local citizens as well as the nation’s economy.