This is what the anti-globalization people say as they feel that Globalization is another form of Colonialism. Their fear might be true because colonialism was a phenomenon exhibited by the big powers of the world to gain others territory on the might of power and establish their monopoly over the world. Similar is the case with Globalization as it allows free trade without any trade tariffs and restrictions. Although there are advantages of variety and competition of goods and services but it is feared that large multinationals, having a huge amount of budget will gain supremacy in the business world.
If they are allowed to do so, they will definitely swallow the small companies because the smaller companies don't have that huge budget and they will not be able to cope with the situation. This will let these companies to high risk. The larger multinational s will easily gain the market attraction and establish their monopoly in business. If their monopoly is established then there will be no one to stop these multinationals for their performance in the market. They will be free to ask for whatever price, they want. Another risk is for the local industries as it might suffer at the hands of these multinationals, as we know that some of the large multinationals have GDP, which twice or thrice the budget of the developing countries. In this way, the Globalization surely resembles to Colonialism.
If they are allowed to do so, they will definitely swallow the small companies because the smaller companies don't have that huge budget and they will not be able to cope with the situation. This will let these companies to high risk. The larger multinational s will easily gain the market attraction and establish their monopoly in business. If their monopoly is established then there will be no one to stop these multinationals for their performance in the market. They will be free to ask for whatever price, they want. Another risk is for the local industries as it might suffer at the hands of these multinationals, as we know that some of the large multinationals have GDP, which twice or thrice the budget of the developing countries. In this way, the Globalization surely resembles to Colonialism.