Small business are disappearing and being replaced by large multinational companies. Do the advantages outweigh the disadvantages?

In modern contemporary, the phenomena of the spread of international

companies

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in many

countries

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become part of the globalization process. Some people believe that it could have a drawback

such

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as discouraging local people to open their own business, while others think that it can have myriad merit;

for instance

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, boosting

countries

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’ economy by lure foreign

investors

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. I am of the opinion that

this

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phenomenon's merits outweigh its demerits.

To begin

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with, the main drawback caused by the existence of the international

companies

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over local ones is that local business losses its market-ground, due to increasing number of the global

companies

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, which in turn leads to increase badly the percentage of unemployment rate.

This

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is because the existence of the market competition, between in-home

companies

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and global ones, has been diminished.

As a result

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, local

companies

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closed their business and fired their employees.

Therefore

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, some economists suggest that the government should put the rules and regulate the relation between both local and international

investors

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.

Nevertheless

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, despite the demerits previously mentioned, I believe that the benefits of

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phenomenon outweigh its disadvantages. The reason for

this

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is that foreign

investors

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usually bring hard currency to the country, which boosts dramatically the country’s economy.

For example

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, according to an article that has been recently published in the New York Times, 31 per cent of developing

countries

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have been survived economically

as a result

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of the reservation procedures of hard currency.

Therefore

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,

third

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-world

countries

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often encourage foreign

investors

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to invest in their

countries

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; despite the fact that

this

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could affect dramatically the unemployment rate. In conclusion, it is evident

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essay highlighted the positive impacts and negative effects of the disappearance of small businesses and being substituted by global

companies

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. In my opinion, the advantages greatly outweigh the disadvantages.