The growing international trade activities and interactions among countries has boosted economic development and better cross-cultural understanding on a global scale. However, some people argue that such developments are the biggest culprit behind the degradation of cultural identity in many countries.
On the one hand, there is no question that many developing countries have experienced a surge in employment opportunities and unparalleled economic gains by virtue of globalization. While businesses can reap the benefits in trade barriers such as reaching potential customers beyond national borders , competent employees would be able to work overseas in multinational corporates. Furthermore, globalization has also encouraged the tourism industry a better understanding of other cultures. Experiencing different ways of life, discovering new food and customs and visiting cultural sites will eventually help people and respect for other cultures.
On the other hand, the general complaint about globalization is that it represents a deadly threat to the national culture . The constant stream of marketing campaigns by international firms has led to the dominance of certain eating habits and fashion trends, whereas the traditional lifestyles become less favorable amongst young generations. In addition, there is mounting evidence that a large number of minority languages are on the verge of extinction as people prefer to conduct businesses and communicate in widely used tongues like English or Chinese.
In conclusion, although globalization may result in a certain loss of cultural identities, there are still more benefits of increasing trade and cross-cultural activities among countries. From a broad perspective, international business should be regarded as a positive development and encouraged by all nations.