Question

Part 1 - Present one recent instance (within the last 50 years only) whereby a language, custom or national culture has been lost or diminished by the elimination or blurring of an existing border via globalization. (Please select non-U.S. examples)

Part 2 - By extension, how have global oligopolies benefited from the decrease in local competition?

Answer 1

1.During the last years India lost its traditional food culture Indians are running behind Junk foods and trying to imitate foreign food culture blindly. They couldn't even imagine a day without Pizza, Burger,Sandwich,Arabian foods Chinese foods etc. Its all because of Globalisation. The tastes of foreign foods made them forgot their own food culture.

2. Global oligopolies have won a place in global market itself so that they got the credibility and acceptability in the local market also. So they dont jave to face the local competition that much. The oligopolistic firms are more affected by the decisions of other similar firms. They have to be strategically well prepared to face other firms in global market they have to consider the expected behaviour of rivals. In local oligopolistic competition there will be some dominated firms they do not compete over price they compete over sales promotional techniques,product differentiation etc. But in a global market only a well standardised firm can be participated. They must maintain a standard in terms of quality also. So they can beat local competition easily