Some people think the spread of multinational companies and globalization produces positive outcomes for everyone. Do you agree or disagree with this statement?

The advent of global corporations and
globalisation
is viewed as an overall net positive for
the
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apply
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everyone. In
this
essay, it is argued that
globalisation
has indeed created win-win outcomes for most
countries
,
however
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,however
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there are some shortcomings that
needs
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need
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to be addressed along the way. The advent of trade and
globalisation
had
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led to the creation of multinational conglomerates, which provided the scale and reach necessary for
increase
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the increase
an increase
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in global economic growth. During the days of autarky,
countries
did not trade and invest much in each other, which meant that overall economic growth was low. But, ever since the advent of
globalisation
we have had multinational corporations create global supply chains to take advantage of cheap labour costs in many
countries
.
This
has led to an increase in living standards for
countries
like China and India, which allowed them to become very prosperous. The availability of cheap goods has
also
enriched developed
countries
and their corporations, thereby creating a win-win outcome for both sides involved.
On the other hand
, mega-corporations have
also
created several ecological disasters which are affecting entire
countries
to
this
day.
For example
, British Petroleum extracted oil and gas from Nigeria through cheap methods which generated a lot of toxic by-products.
This
waste product
had
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led to a steep increase in cancer rates and several other diseases amongst the local populace. But, BP on account of its size was able to skirt regulations through bribes and
were
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was
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not held accountable.
Hence
, global conglomerates while conducting their operations remain loosely accountable for any damage caused by their actions. In conclusion, while
globalisation
has created net positive outcomes for all parties involved it needs to become more fair and transparent regarding its shortcomings to become sustainable. Overall, if there are global regulations enacted to deal with the harmful actions caused by some multinationals ,
globalisation
will ensure a prosperous future for all of humanity.
Submitted by rohit.pandeyecon on

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