Globalization has strong impact on the goods and services I use. While in India during semester break, I find myself often traveling by Uber, eating out at Pizza Hut and McDonald’s. The slippers I wear is made by Bata which is an Italian company. According to wikinvest, Bata has around 35 percent market share in the organized sector in India. Similarly, I love to eat Maggi noodles made by Nestle which is a Swiss company. Globalization has led to the world being a global village in which companies have become ubiquitous and cannot be separated by inter-boundaries between countries.
I find technology to be a major globalizing factor. My family lives in India but apps like Skype and WhatsApp, developed by companies in US, allows us to connect with each other despite the long distance. Globalization has saved us from expensive international calls. My cousin who lives in Canada eats almost the same kind of food like Chapati, sweets as we eat at my home. Nanak Sweets offers a wide range of Indian dishes and sweets throughout US and Canada.
I believe Globalization has been good for the US. It has opened up emerging markets for American companies to cater to global audiences thereby driving American economy upwards. According to Apple Newsroom, International sales accounted for 65 percent of 2018 first quarter’s revenue. Benefit of free-trade offers consumers products at competitive rates and has allowed companies like Apple to save cost by outsourcing. Companies like TCS, Infosys, SAP have opened up offices in different locations throughout US and have generated employment for the local population.
“Market Share Held by Nokia Smartphones 2007-2013 | Statistic.” Statista, July 2013, www.statista.com/statistics/263438/market-share-held-by-nokia-smartphones-since-2007/.
Purohit, Tanmay. “Bata India (NSE:BATAINDIA).” Stock:Wendy’s International (WEN), www.wikinvest.com/stock/Bata_India_(NSE:BATAINDIA).
“Apple Reports First Quarter Results.” Apple, 8 July 2018, www.apple.com/newsroom/2018/02/apple-reports-first-quarter-results/.