A task 2 essay
Posted: Wed Aug 28, 2013 7:33 am
This is an essay I wrote for practice. I appreciate any help on pointing out mistakes. Thank you.
Some people think developing countries should invite large foreign companies to open offices and factories to grow their economies. Others think the developing countries should keep large companies out and develop local companies instead. Discuss both views and give your own opinion.
People have different views on whether developing countries should accept investment from multinational companies. Although local companies may face direct competition from foreign companies of the same industry, I personally believe it can help with local economic growth for governments of developing countries to allow companies from other countries to open local branches.
There are several benefits of inviting multinational companies to open local offices and factories in developing countries. Firstly, these companies are normally large job creators. Their factories may create hundreds of thousands of job openings for people in developing countries. This can significantly reduce the unemployment rate in these countries. Secondly, many multinational companies bring the latest technology to developing countries. Local employees of these companies have the chance to learn the state-of-the-art technology. They may later create their own start-up companies, or they even work for local companies, thereby helping with technological advances in developing countries. Also, many of these foreign companies pay large amounts of corporate income taxes, which can be helpful with local economic growth.
On the other hand, some people believe that it is better to protect local companies by keeping foreign companies out. It is generally true that local companies do not have the same level of technology or funding like foreign multinational companies do, so they may not be able to survive in a competitive free market. People therefore are concerned that this might lead to an economy controlled by foreign companies.
In conclusion, I believe that it has a positive impact on the economic growth in developing countries to allowing foreign countries to have local offices, and local companies can learn to improve their competitiveness in a free market. (279 words)
Some people think developing countries should invite large foreign companies to open offices and factories to grow their economies. Others think the developing countries should keep large companies out and develop local companies instead. Discuss both views and give your own opinion.
People have different views on whether developing countries should accept investment from multinational companies. Although local companies may face direct competition from foreign companies of the same industry, I personally believe it can help with local economic growth for governments of developing countries to allow companies from other countries to open local branches.
There are several benefits of inviting multinational companies to open local offices and factories in developing countries. Firstly, these companies are normally large job creators. Their factories may create hundreds of thousands of job openings for people in developing countries. This can significantly reduce the unemployment rate in these countries. Secondly, many multinational companies bring the latest technology to developing countries. Local employees of these companies have the chance to learn the state-of-the-art technology. They may later create their own start-up companies, or they even work for local companies, thereby helping with technological advances in developing countries. Also, many of these foreign companies pay large amounts of corporate income taxes, which can be helpful with local economic growth.
On the other hand, some people believe that it is better to protect local companies by keeping foreign companies out. It is generally true that local companies do not have the same level of technology or funding like foreign multinational companies do, so they may not be able to survive in a competitive free market. People therefore are concerned that this might lead to an economy controlled by foreign companies.
In conclusion, I believe that it has a positive impact on the economic growth in developing countries to allowing foreign countries to have local offices, and local companies can learn to improve their competitiveness in a free market. (279 words)