In recent years, The Influence Of Global Markets On Local Industries has become a prevalent topic in the IELTS Writing Task 2 exams. With the world becoming more interconnected through trade, technology, and information sharing, the impacts of globalization on individual countries’ industries are scrutinized more than ever. The increasing appearance of this topic in IELTS exams reflects its global importance and relevance. By understanding how global markets shape local industries, candidates can improve their essay writing by addressing a significant contemporary issue.
Past IELTS Exam Questions on the Topic
- “Some people believe that the rise of global trade markets is beneficial for local industries, while others think it can harm them. Discuss both views and give your own opinion.”
- “Global markets are having a significant impact on local industries around the world. To what extent do you agree or disagree with this statement?”
- “The globalization of markets affects local enterprises in both positive and negative ways. Discuss the advantages and disadvantages.”
Given the frequency and relevance of this subject, the following sections will provide a detailed essay outline and a model answer based on the most common type of question.
Selected IELTS Task 2 Question
Global markets are believed to have both beneficial and detrimental effects on local industries. Discuss these effects and give your opinion.
Analyzing the Question
This type of question asks you to consider both positive and negative impacts of global markets on local industries. After analyzing these effects, you are required to provide your own opinion on the matter. To address the question effectively:
- Identify the positive effects of global markets.
- Recognize the negative effects and challenges faced by local industries.
- Formulate your opinion based on a balanced argument considering both viewpoints.
Model Essay
Global markets have revolutionized the way local industries operate, bringing both significant benefits and notable challenges. While some argue that globalization fosters economic growth and competition, others contend that it adversely affects local businesses. In my opinion, although global markets introduce some challenges, their overall impact is predominantly beneficial.
Firstly, global markets provide local industries with access to a broader consumer base. This expansion allows businesses to grow beyond the limitations of their domestic markets, increasing revenue and profitability. For instance, many technology companies from emerging economies have successfully penetrated international markets, boosting their growth potential. Additionally, global markets foster innovation and efficiency as local businesses strive to meet international standards and compete with global companies. Exposure to diverse business practices and advanced technologies can significantly enhance the productivity and quality of local industries.
Moreover, global markets attract foreign direct investment (FDI), which plays a crucial role in the development of local industries. When multinational companies invest in local businesses, they not only provide capital but also facilitate the transfer of knowledge and expertise. This exchange can lead to improved management practices, technical skills, and overall industry growth. For example, the automobile industry in several developing countries has advanced significantly due to investments from global car manufacturers.
Global Markets and Local Industries
On the other hand, global markets can pose numerous challenges to local industries. One prominent issue is increased competition. Local businesses may find it difficult to compete with international corporations that have more resources and established customer bases. This can lead to the decline of small and medium enterprises (SMEs) and potentially result in job losses. Additionally, reliance on global markets can make local industries vulnerable to global economic fluctuations. For instance, economic recessions or trade wars can disrupt supply chains and negatively impact local businesses dependent on international markets.
Furthermore, the dominance of global markets can lead to cultural homogenization, where unique local products and traditions are overshadowed by global brands. This can result in the loss of cultural heritage and identity, which is often associated with locally produced goods. For example, traditional crafts and local cuisines might struggle to survive in the face of mass-produced, globally marketed alternatives.
In conclusion, while global markets present certain challenges to local industries, their overall impact is beneficial. Access to a larger consumer base, increased innovation, and foreign direct investment outweigh the difficulties posed by competition and economic vulnerability. Therefore, it is essential for local industries to adapt and leverage the opportunities provided by global markets to achieve sustainable growth.
(Word Count: 406)
Key Considerations When Writing About This Topic
Vocabulary and Grammar
- Use formal and academic language: Words like “detrimental,” “beneficial,” “vulnerable,” and “homogenization” are appropriate for this type of essay.
- Complex sentences: Balance simple and complex sentences to display linguistic range.
- Cohesive devices: Use linking words such as “moreover,” “furthermore,” and “on the other hand” to ensure coherence and cohesion.
Important Vocabulary (with Definitions)
- Revolutionize (v) /ˈrɛvəlʊˌʃaɪz/: To change fundamentally or completely.
- Penetrate (v) /ˈpɛnɪˌtreɪt/: To gain access to or impact.
- Profitability (n) /ˌprɒfɪtəˈbɪlɪti/: The degree to which a business earns more money than it spends.
- Homogenization (n) /həˌmɒdʒɪnaɪˈzeɪʃən/: The process of making things uniform or similar.
- Economic fluctuations (n) /ˌiːkəˈnɒmɪk flʌktjʊˈeɪʃənz/: Changes in the economic activity level, often measured by indicators such as GDP or employment rates.
Conclusion
In summary, understanding the influence of global markets on local industries is crucial for excelling in IELTS Writing Task 2. By exploring both the benefits and drawbacks of globalization, candidates can provide a well-rounded discussion and present informed opinions. Future IELTS exam questions are likely to continue focusing on globalization’s impacts, hence preparing for such topics can greatly enhance your writing skills and readiness for the test.
For further practice, consider exploring related topics such as the impact of global trade on developing countries and the influence of global trade agreements on local industries to broaden your understanding and adaptability.
