Band 6+: The spread of multinational companies and the increase of globalization produces positive effects for everyone. To what extent do you agree or disagree?

It is thought that people are benefited from the increasing multinational corporations and the development of globalization. I firmly agree with this statement in the sense that it can help the economy of the country.

To commence with, there are considerable benefits to the development of multinational enterprises and globalization, one of which is enhancing economic prosperity. With the increase of economic globalization and market competition, some multinational companies are spread to countries with large human resources particularly developing and least developed countries, helping those countries to reduce the high unemployment rate by providing local people with far more job opportunities and training them to become skilled workers, who can, in turn, establish small and medium enterprises and even their own transnational companies, and contribute to the economic

development of the country. As an example, the booming of multinational companies such as Unilever, Microsoft, Samsung, and many others help Vietnam to become one of the top 40 largest economies in the world. Hence, I believe that the development of multinational companies and globalization is beneficial to the growing economy of the country and its people.

However, some opponents believe that the local market can be affected in negative ways by the growth of multinational companies and globalization. As the effect of economic globalization and multinational enterprises, countries are likely to trade with lower tariffs or even free trade, leading to an increase in the cross-border trade of goods and commodities, which are hard to compete by some local enterprises and their products. However, I would argue that this in turn can lead to a variety of qualified goods and services that meet consumer preferences available for local consumers.

All things considered, I completely agree that the spread of multinational companies and the growth of globalization can bring about positive aspects regarding economic development and quality products compared to some negatives.