Multinational businesses tend to invest huge amounts of capital into advertising their products around the world. This level of spending ensured that the product is accessible to be purchased in every corner of the world. Due to its reach and potential to get the products sold in volumes, the price tag of the products will be competitive. Since it is very economical to buy these kind of products, people sometimes tend to prefer the lower price of the product rather than where it gets produced from. This consumer behaviour impacting local markets negatively. Governments should impose tariffs on these foreign brands and subsequently should reduce taxes on the locally made products.
Capitalism has never been a favourable situation for local economies. Because, most of the profits made by these giant companies never get invested back into local economies, pushing the small scale businesses out of the game. Moreover, the capital gains are in the hands of the top 1% of the people in the society, preventing it from being circulated in the domestic markets. This phenomenon is making the home trade not profitable. In addition to this, big corporations lack variety and creativity in their product design. This is because they are designed in such a way, which could work for most of the people but not for all. In one way, this is influencing consumer's choice, leaving them with limited options to choose from.
In my opinion, Governments should step in and start imposing bigger tariffs on the products made by these massive companies. This will increase the cost of the products manufactured by these giants motivating buyers to look for alternatives. At the same time, governments should encourage local shops and small scale industries by reducing taxes on the goods produced by them and by providing subsidies as well. This would help in reducing the cost of the products enticing customers to buy locally made goods.
In conclusion, pricing of the products should be closely monitored and measures should be taken by the governments to maintain the trade in such a way that domestic economies are not driven away by the corporate companies.
Multinational businesses tend to invest huge amounts of capital into advertising their
products
around the world. This level of spending ensured that the
product
is accessible to be
purchased
in every corner of the world. Due to its reach and potential to
get
the
products
sold in volumes, the price tag of the
products
will be competitive. Since it is
very
economical to
buy
these kind
of
products
,
people
sometimes
tend to prefer the lower price of the
product
rather
than where it
gets
produced from. This consumer
behaviour
impacting
local
markets
negatively
.
Governments
should impose tariffs on these foreign brands and
subsequently
should
reduce
taxes on the
locally
made products.
Capitalism has never been a
favourable
situation for
local
economies.
Because
, most of the profits made by these giant
companies
never
get
invested back into
local
economies, pushing the
small
scale businesses out of the game.
Moreover
, the capital gains are in the hands of the top 1% of the
people
in the society, preventing it from
being circulated
in the domestic markets. This phenomenon is making the home trade not profitable.
In addition
to this,
big
corporations lack variety and creativity in their
product
design. This is
because
they
are designed
in such a way, which could work for most of the
people
but
not for all. In one way, this is influencing consumer's choice, leaving them with limited options to choose from.
In my opinion,
Governments
should step in and
start
imposing bigger tariffs on the
products
made by these massive
companies
. This will increase the cost of the
products
manufactured by these giants motivating buyers to look for alternatives. At the same time,
governments
should encourage
local
shops and
small
scale industries by reducing taxes on the
goods
produced by them and by providing subsidies
as well
. This would
help
in reducing the cost of the
products
enticing customers to
buy
locally
made
goods
.
In conclusion
, pricing of the
products
should be
closely
monitored and measures should
be taken
by the
governments
to maintain the trade in such a way that domestic economies are not driven away by the corporate
companies
.