Topic:
Countries are becoming more and more similar because people are able to buy the same products anywhere in the world.
Essay:
The vigorous explosion of globalization have laid the foundation for the free trade among nations whereby their citizens are capable of consuming parallel commodities. Although I agree that there are various drawbacks stemming from this development, they can be esclipsed by its benefits.
On the one hand, there are a variety of advantages of product globalization. Firstly, it would foster the economic growth of those countries. This is because business freely allows goods which are redundant can be exported to others needing them. As a result, it enables companies in both countries reap more profit, and simultaneously it contribute to the national budget through export and import taxes. Secondly, customers would have options to purchase products having a higher quality and a more reasonable price. Indeed, domestic companies need to have their own strategies such as improving designs, diversifing products or reducing the price to have capability to complete with external corporations.Without product globalization, local companies tent to offer opposite policies reducing client's benefits.
On the other hand, this is not to say that we can neglect disadvantages of this phenomanon. Admittedly, several domestic products would be liable to be disappeared when their customers value international items above other things. This is exemplified in a study undertaken by Vietnamese Economists. They indicated that about 35 Vietnamese cosmetic companies were ruined in 2018 bacause of their limitted competitive ability with other products from Korea, Japan and the UK. Moreover, it leads to business freely of some low quality products causing hazards to customer's health. For example, formula branch in China were banned to be exported by other countries after detecting a toxic product endangering the brain. Nonetheless, I strongly believe that the benefit of product globalization is more considerable in comparision with its drawbacks especially in current market-oriented market.
After discussing all the points mentioned above, I can finally conclude that globalization brings in various positives, and it utterly can overweigh its negatives. Thus, both government and individuals should have futher consideration in favour of this trend.
Countries are becoming more and more similar because people are able to buy the same products anywhere in the world.
Do you think this is a positive or negative development?
Essay:
The vigorous explosion of globalization have laid the foundation for the free trade among nations whereby their citizens are capable of consuming parallel commodities. Although I agree that there are various drawbacks stemming from this development, they can be esclipsed by its benefits.
On the one hand, there are a variety of advantages of product globalization. Firstly, it would foster the economic growth of those countries. This is because business freely allows goods which are redundant can be exported to others needing them. As a result, it enables companies in both countries reap more profit, and simultaneously it contribute to the national budget through export and import taxes. Secondly, customers would have options to purchase products having a higher quality and a more reasonable price. Indeed, domestic companies need to have their own strategies such as improving designs, diversifing products or reducing the price to have capability to complete with external corporations.Without product globalization, local companies tent to offer opposite policies reducing client's benefits.
On the other hand, this is not to say that we can neglect disadvantages of this phenomanon. Admittedly, several domestic products would be liable to be disappeared when their customers value international items above other things. This is exemplified in a study undertaken by Vietnamese Economists. They indicated that about 35 Vietnamese cosmetic companies were ruined in 2018 bacause of their limitted competitive ability with other products from Korea, Japan and the UK. Moreover, it leads to business freely of some low quality products causing hazards to customer's health. For example, formula branch in China were banned to be exported by other countries after detecting a toxic product endangering the brain. Nonetheless, I strongly believe that the benefit of product globalization is more considerable in comparision with its drawbacks especially in current market-oriented market.
After discussing all the points mentioned above, I can finally conclude that globalization brings in various positives, and it utterly can overweigh its negatives. Thus, both government and individuals should have futher consideration in favour of this trend.