Social Sciences, asked by sp219305, 10 months ago

globalization leads to the downfall of domestic production how​

Answers

Answered by fitam1235
1

Answer:

globalization is a process of municipal government and I have to be President

Answered by mulemadison
0

Answer:

Globalization leads to the downfall of domestic production.

Explanation:

Globalization is the process of integrating domestic markets into the international arena. It involves free marketing strategy where goods and services can be easily operated on a global platform.

With globalization becoming a driving force in the world economy today, it has enhanced capitalization and open market competition among various markets and businesses. Many Multi-National Corporations have come into existence and their influences have spread in every parts of the world. This, however, has created a major problem for small businesses and domestic producers.

With less restrictions on export and import, large corporations have taken control of every market in the world. Easy availability and affordable products by these large corporations have subdued domestic businesses and producers. The MNC's attract lots of consumers because of western hype and its affordable and attractive prices. The domestic products and businesses are often neglected by domestic and local consumers because of western and trending inclination towards international products and services. Thus, ultimately leading to the downfall of domestic production.

Learn more:

What is globalization?

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What are the consequences of global interaction?

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