Some people believe that the activities of large multinational corporations mostly benefit the economies of developing countries. Other people take the opposite view and feel that these large multinationals are generally harmful. Discuss both views and give your opinion.

It is often argued that vast global

companies

contribute to the economy of developing nations, while others disregard

this

idea. Both arguments would be delivered in

this

essay. On the one hand, foreign

companies

offer a generally positive impact on developing countries as their emergence increases job opportunities. Job opportunities contribute to the development of a nation’s quality of life and prosperity since many employments provide economic stability for every individual. In India, 23% of college graduates spend their post-graduation lives working at Google or Amazon. These

companies

own a larger share and profit than the local ones and

thus

making it possible for employees to have a decent amount of salary.

Conversely

, the substantial number of international corporations might spark competition with local

businesses

and if there are no precautions on limiting their dominance, they might eradicate the already-developed local

businesses

.

For instance

, a mobile phone Indonesian company called “Garuda” which

initially

sold five hundred thousand phones per year has gone bankrupt in under two consecutive years as opposed to the constant popularity of “Android” and “IOS” which dominated most mobile phone users in

this

country.

Therefore

, there would be less opportunity for local

companies

to grow and it leads to a dependency on foreign, imported products. The excessive number of imports would

also

be prone to high taxes. To summarize, large employment might likely be one of the major benefits of global

companies

,

however

, it might

also

cause local

businesses

to be closed. In my opinion, I believe there are more negative impacts compared to the prosperities that might come with it. In that regard, the government should provide a solution to solve the domination of these

companies

, by sending funds to local corporations and limiting foreign

businesses

.