With globalization, the spread of international corporations such as Starbucks and McDonalds are a common sight in many places. Discuss the potential effects of this trend.

In the contemporary world, the myriad use of technology has expanded the ability of people to identify problems from around the globe. One of the topics that are constantly discussed is that of globalization. While this is not a particularly new problem for society, experts have debated a wide array of explanations and possible ramifications of it on local communities. This essay will detail a multitude of repercussions of the spread of international corporations, precisely highlighting a loss of uniqueness and an invariable exit of capital from local neighborhoods.

One of the major benefits of traveling the world is to experience the local flavors of different cultures. Yet, when one travels to many international cities, it is nearly certain that he or she will see an international corporate store or good, and as the world moves into the 21st century, this trend will unlikely slow down. The principle concern of this movement is that the local flavors, that is foods, products, architecture, and overall experiences, will be sidelined by the familiarized logos and products of international corporations, thus decreasing the distinctness of many neighborhoods around the world.

The symbolism that is represented by these international corporations is very important, however, a more direct result of this globalization is an exit of money from local institutions. The bottom line of business is a critical aspect of staying afloat in an increasingly competitive market, and the introduction of international products into the local marketplace will take away market share from local producers. This exit of capital will hurt the long-term prospects of local business and will upset the equilibrium of consumers and producers in certain cities.

With all things considered, the main consequences of an introduction of international businesses into local areas are a loss of cultural identity and an exit of important capital from local businesses. It is imperative that both of these talking points are including in any discussion surrounding the idea of globalization in future societal deliberations.