International Business Essay Example | Topics and Well Written Essays - 500 words - 4

International Business - Essay Example Modern society belong to the world of globalization and liberalization. Most of the countries changed the rules and regulations to accommodate Globalization and Liberalization. The boundaries of such countries are open to MNC’s irrespective of their origin or culture. But the main problem is such MNC’s have monopolized the market and small companies found it extremely difficult to survive in the market. The entry of MNC’s mostly welcomed by the consumers since they are getting quality products at affordable prices. But the small local companies are unanimously opposing the entry of MNC’s because of their inability to compete with the MNC’s. Now the question is how far a government can open their doors for the MNC’s? Can a government keep a blind eye towards the needs of small local companies? How can a government protect the interest of small local companies after signing agreements with regional trading blocs? â€Å"Regional integration agreements (RIA), also known as regional trading blocs, have become one of the major international relations developments in recent years. Most industrial or developing nations belong to one or more RIAs, and there are many. It has been said that more than one third of all world trade takes place within RIAs and that percentage increases daily. The merits and demerits of foreign culture will be induced through the MNC’s which will be a threat to the tradition and culture of the country.