Opinion on‘The Worst Myth Ever’ Article.
From reading the article, the reader is introduced to the difference between those who believe in globalization and those who do not. For instance, those who believe in globalization claim that it is imperative to free the market as it will ensure that wealth is spread all over the world .however, those who do not believe in globalization, believe that only the wealthy nations and organizations have established how the globalization works and to their advantage, gaining profits from the sweat of the poor. However, the author believes that the only thing the two have in common is that it globalization leads to more market share for the fewer players.
This is to say that it is true that it puts profits and power into lesser hands, mentioning that it is expected to have wide varieties of industries being dominated by less companies that continually overtake the smaller companies in their bid to become bigger. I agree with the author that the information on global production reveals the opposite, where in the event of a long period of globalization, many integral sectors of the global environment becomes more competitive. Statistically it may reveal that more product is created by the lesser organizations, industries has become lesser concentrated over the years. The example given is that of the auto industry where General Motors is no longer the globe’s largest automobile maker, rather Japan’s Toyota.
This comes in response to the mention that globalization is in fact Americanisation given that many companies renowned all over the world are mostly American companies, making the country a relative example of large market share for the fewer entities. The initial belief truly does ignore the fact that concentration should not only look at the quantity of producers, but also those that are large in relation to the market. If anything, globalization actually increases options and competition rather than reducing them.
Evidence that small businesses are more likely to benefit from globalization is seen in the benefits of globalization. For one, there is easier movement of cheap labor from nation to nation, not to mention establishing a larger talent pool for company owners to choose from. In addition, new business technologies being shared worldwide enables quicker, more accessible and cheaper developments, maximizing efficiency for smaller businesses. Also, increased helps smaller businesses that have been struggling to ensure startup funding. Improved transport has also enhanced transport capabilities for all forms of businesses.