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Is it true that only large corporations are affected by the trend towards globalization?

1) True
2) False

1 Answer

4 votes

Final answer:

The statement that only large corporations are affected by the trend towards globalization is false. Globalization impacts various stakeholders including small businesses, workers, and local communities.

Step-by-step explanation:

The statement that only large corporations are affected by the trend towards globalization is false. While it is true that large corporations have a significant impact on the global economy, globalization affects various stakeholders including small businesses, workers, and local communities.

Small businesses can benefit from globalization by accessing new markets and opportunities through international trade. For example, a small artisanal cheese producer in France can now export their products to customers all over the world.

In terms of workers, globalization has both positive and negative effects. On one hand, it can create job opportunities in developing countries where multinational corporations have their factories. However, it can also lead to job losses in developed countries as companies seek cheaper labor elsewhere.

Furthermore, the impact of globalization extends beyond corporations and workers. Local communities can experience changes in their culture, environment, and social dynamics due to globalization.