some people say that increasing business and cultural contacts between countries would is a positive developement, while others think that many counntries will lose their national identities as a ruslt. Discuss both view and give your opinion?

Increasing globalization is making the world and its borders shrink, which is leading to multicultural awareness and sharing of resources. Many people believe that

this

rise of financial and cultural engagement among nations is improving economies while others tend to assume that a lot of countries will forget their cultural integrity. In my opinion, business and cultural exchanges will provide more benefits and only those countries, whose cultural identity is not deeply rooted in their populace have chances of losing their identity. Let's discuss both views and try to come to a conclusion. Frequent interactions amongst continents for products and services which are abundant in one and scarce in another

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is leading to monetary benefits which result in boosting the economy of the seller.

For instance

, the middle east was able to acquire a huge amount of wealth by exporting oil and gas which was available in large quantities in their continent.

However

, countries which do not have a strong and developed ideology and value system might lean towards picking up ideas and thought process from other regions. They

also

run a risk of losing out on their cultural identification in the process.

For example

, places like the Philippines majorly have a thought process like a western country like America and might not be able to boast of their own idealogy. In conclusion, though we had people believing both the positive and negative effects of global financial agreements and their effect on local heritage, we have reasons to believe that the benefits outweigh the detrimental effect.