The spread of multinational companies and the increase of globalization produces positive effects for everyone. To what extent do you agree or disagree?

It is argued that the proliferation of global corporations and internationalization offers benefits to all people. I agree with the aforementioned statement because of reasons relating to a higher

level

of employment and enhanced cross-cultural communication skills.

Firstly

,

this

trend brings more job opportunities for local residents. Since international firms, which open their branches in different countries, require a high

level

of workforce, they will need to recruit more local employees to operate the business.

As a result

, the natives are offered a decent occupation with lucrative incomes to cover their living expenses and in some cases, spend more generously on their shopping.

For example

, Samsung, a renowned Korean technology corporation, has created a large number of jobs for Vietnamese since 2018, through cooperating with the local government to successfully tackle the high unemployment rate in Vietnam.

Secondly

, people have a chance to develop multicultural communication skills as

globalization

is promoted. On a personal

level

, it is now easy for workers to learn about foreign cultures and customs, enabling them to acquire more knowledge and insight into varying international practices. As they are exposed to cross-cultural diversity in their working environment and society, they become more able to show empathy and tolerate cultural differences. At the company

level

,

globalization

leads to a more diverse range of potential business partners and diversifies their investment portfolios, which contributes to their profit generation.

Consequently

, having global partnerships is essential for businesses to compete in the growing international market.

However

, it is important to acknowledge that

globalization

itself is a threat to local businesses. With the impact of

globalization

, more and more new products are becoming available in the market and people have choices.

In other words

, there is greater competition in the market.

Thus

, local trades, particularly small and medium businesses might not survive in the long run and

this

has negative consequences on the local economy. In conclusion,

although

I acknowledge the positive impacts of multinational companies and

globalization

,

such

as more jobs in local areas and better cross-cultural communication, the negative consequences on local business cannot be ignored.

This

requires implementing policies and regulations that promote sustainable development and support domestic enterprises

while

harnessing the opportunities presented by

globalization

.