We are living in an era of
globalization
. The entire world has turned in to a ‘global village’. The diminution/ attenuation
/
dwindling of barriers on trade and other economic activities has made it feasible for the multinational
companies
to move around freely in different nooks and corners of the world. A popular stratum of society deems that
this
is a positive development as one and all are getting benefited out of it.
However
, I tend/ am inclined to think in the opposite direction. I think it is not bringing dividends to all and sundry. I would like to explicate it at length in the paragraphs to come.
On the one hand, my major argument relates to their
products
. Supporters of
globalization
argue that multinational
companies
produce high-quality
products
.
This
may be true to some extent,
however
, it
also
means that people have less choice of
products
to buy.
Consequently
, these
products
are generally expensive which means an extra financial burden on the pocket of the common man.
Hence
, these
products
are not in everyone’ reach.
In addition
, when powerful multinational association invade
/
intrude local markets with their goods, they pose a serious challenge to local and small organisations and often force them to go out of business.
As a result
, consumers have no choice but to buy multinational
products
whether we like them or not.
On the other hand
, MNCs and
globalization
are making societies more open which is good in a way but
this
also
means that
as a result
, the human race is losing its cultural identity.
Furthermore
, advocates of multinational
companies
often point out that they provide employment.
This
is undoubtedly true, it
also
indicates that we have become more dependent on them which means when a multinational company decides to move to another country,
this
has an adverse effect on its workers who lose their jobs. To add to it, the jobs MNCs provide are not paid as much as they pay for similar jobs in their own country.
Thus
, in fact, they are exploiting workers from poor nations.
To conclude, after the overall analysis, it can be concluded that apparently multinational
companies
do have their benefits, but they
also
have their drawbacks and not everyone is benefited by them.
Globalization
will prove a boon when everyone can reap the fruits of it and when the benefits are not restricted only to a group of individuals,
companies
or countries.