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Transnational and Multinational Corporations

Transnational and multinational corporations can provide both benefits and drawbacks to developing economies. They bring financial resources and jobs that support economic growth, but also risk exploiting workers and dominating local markets. While trade between countries allows them to access resources and consumers not available domestically, large international brands may undermine small local businesses. As the Philippines further integrates into the global economy, it faces challenges in competing with developed countries that have stronger technologies and economies of scale.

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Justin Paolo San Luis
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257 views1 page

Transnational and Multinational Corporations

Transnational and multinational corporations can provide both benefits and drawbacks to developing economies. They bring financial resources and jobs that support economic growth, but also risk exploiting workers and dominating local markets. While trade between countries allows them to access resources and consumers not available domestically, large international brands may undermine small local businesses. As the Philippines further integrates into the global economy, it faces challenges in competing with developed countries that have stronger technologies and economies of scale.

Uploaded by

Justin Paolo San Luis
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Name: San Luis, Justin Paolo T.

08/24/2020
CONWORLD Mr. Arnel Garcia

Pros and Cons of Transnational or Multi-National Corporations (TNCs/MNCs) and the Integration of
the Philippines to the Global Economy

Transnational or Multinational Corporations provides developing countries around the


world with the necessary financial infrastructure to achieve economic and social development.
Although they bring several benefits to such nations, they also come with ethical conducts that
exploits the neediness of a country or nation. Somehow it leaves a bad impression that a country
can’t sustain themselves without the assistance of other countries. Is it really beneficial or
detrimental to a country’s economy?

Since back then, trade between countries already exist. It means that we provide each
other’s needs especially on resources that might not be available in our country. As of today, they
are unions among countries that are established to support one another. These multinational
corporations help a country to widen the size of their consumers and help them to increase their
sales and production. Developed countries can introduce their advance technology to poorer
countries, in exchange low-cost products are being traded to the wealthier countries. They also
create jobs as well and provide assistance for companies that doesn’t do well. They also adhere
to the best brand standards as well as they ensure minimum standards that is affordable for
everyone. These corporations also help in improving the standard of living where they make lives
easier and more comfortable. Although there are several benefits, Transnational or Multinational
corporations also have downsides. They might unfavorably dominate the market since it is
already visible nowadays where international brands top every country while local brands are
being left behind. Since these corporations are well known and came from powerful countries,
they can possibly exploit the workforce since they can pay services at a lower price and provide
lower wages to their workers They are willing to gain ridiculous profits at any cost since they
know that their product will be bought by consumers since it is something that consumer will buy
nowadays no matter how much it will cost. They strive for a monopolized business by eliminating
their competitors by buying start-ups and smaller businesses.

Nowadays, the dominance of Transnational or Multi-National Businesses is visible. As


what we can observe in our current situation, our local and small businesses here in our country
starts to get really slow and eventually fades. Unlike the multinational corporations, they start to
bounce back from their previous loss. As what I have observed, the need of technology nowadays
is already a necessity for everyone, especially for students. The demand of laptops, desktops, or
any device increases as online classes were introduced in our country. Whereas international
brands like Apple, Samsung, HP and other multinational brands were able to stabilize their sales.
The integration of Philippines to the global economy will somehow affect our country since our
capability to compete with developed countries will be really risky for our economy and people.
Although we can catch up, but we really have to exert so much effort to attain their level since
we are really left behind when it comes to technology and life in general.

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