FANTILAGA, JESSA MAE
HM 701
1. Explain how multinational companies influence global markets and local economies using the
relationship between globalization and economic integration.
Multinational companies are very important to the economy of the world because they help markets all
over the world connect, which makes it easier for us to find things. They benefit from globalization and
economic integration because they can sell more things, reach more customers, and use resources that
are less expensive. For example, Walmart, one of the largest stores in the world, used its global supply
chain and buying power to get a lot of new items at low prices. This growth helped the global market by
increasing trade between the US and the Philippines. Walmart bought things from other countries and
sold them to more people. Walmart hired Filipinos for jobs in retail, shipping, and such. The company
also worked with local suppliers to help some new businesses grow.
2. How do the effects of cultural convergence on global consumer behavior influence global markets?
When people from different cultures start to share the same values, behaviors, and products because of
better communication and globalization, this is called cultural convergence. This change in how people
act in different cultures affects how people act as consumers around the world, which in turn affects
global markets. As cultures mix and start to use each other's ways of doing things, people from different
countries start to want the same products, brands, and services. For instance, fast food places like
McDonald's have opened up all over the world. This is because cultural convergence has made it more
likely that people, no matter where they live, will enjoy the same foods, drinks, or experiences.
3. Propose one (1) balanced approach that a nation could take to integrate into the global economy
while protecting local industries
The government could make rules that support local innovation and business, like giving money to new
businesses, encouraging research and development, and making intellectual property protections
stronger. At the same time, the country can make fair trade deals that make sure that businesses from
other countries follow local labor and environmental laws as well.