Question

Globalization is the spread of products, technology, information, and jobs across national borders and cultures. In economic terms, it describes an interdependence of nations around the globe fostered through free trade. Why worldwide corporations have helped in expanding cultures to a much wider area? Explain two paragraphs with two links.

Answer 1

It is evident that with advent of globalization, the developed countries are able to avail the products at an affordable value because they seek the advantage of the cheaper labor that could be sourced from the developing countries, therefore lessens the relative input value of production. This is one of the primary reasons when various business units are outsourced or even the services that are intangible in nature, are availed from the people residing in the developing countries. Therefore, in the interest of the Worldwide Corporations, the cultures are expanded to much a wider area so that the people in the other countries can somewhat blend their respective cultures with that of these Worldwide corporations and in return, can witness economic growth, especially in terms of employment, in their areas. Hence, expanding the cultures to match a wider area, is a win-win situation for both the parties, owing to the interdependence of the nations around the globe.

Moreover, it is through globalization that one can witness the change in the rest of the world due to the awareness of the products that such countries are willing to plug and sell to them. Moreover, the developed countries can avail the benefits of seeking the authentic product at a lesser rate from the developing markets and additional sell them within the developed markets at a premium rate. Hence, they shall be interested to expand into wider area and shall facilitate in doing away with all styles of trade barriers like taxes or subsidies. Corporations have further helped with the expansion of cultures in the wider area because that shall help in customization of business according to the preferences of the host country and comprehending the distinctive features of the new market, to make a successful entry in the same.