Question

choose an issue in globalization that relates to your personal and professional experiences. In your initial post, address the following:

Give some background information about your chosen issue.

Provide two or three recommendations for how to address the issue from the perspective of two of the general education lenses (humanities, history, social sciences, science) and your own major.

Explain the strengths of your recommendations and what a possible application would look like.

Answer 1

Globalization has completely transformed the economy. As a result of globalization,financially strong foreign companies enter the domestic countries and eat away the market share of domestic firms.

Due to the introduction of LPG (Liberalization, Privatization and Globalization) in 1991, the foreign companies are being given the permission to enter the Indian market. Foreign companies are relatively strong financially and bring in advanced technology and better product quality along with them. Thus customers get diverted towards the foreign products and thus eat away the market share of domestic companies.

Walmart entered in the Indian market and took away the market share of Indian Mom-and-Pop stores, thus Indian sellers are at loss.

From the humanities perspective, foreign companies should not be allowed to enter in the domestic market, otherwise the local sellers and vendors get affected and would be at loss.

From the history perspective, foreign companies should not enter the Indian market as Indian products are completely herbal and is good for health. On the other hand, foreign products are chemical based and is not good for consumption.Thus foreign products should not be consumed.

Indian economy is gradually moving towards old traditions and values and emphasizes on the usage of herbal products which is actually our core strength. Fab India promotes Khadi apparels, Patanjali is completely herbal products and Peter England has also come up with Khadi shirts.