What is the disadvantages of Trinidad and Tobago having American companies?

Question

What is the disadvantages of Trinidad and Tobago having American companies?

Answer 1

Apart from the cultural aspect, the profits made by these companies are almost never invested here.

Also some companies enjoy a tax holiday and our only benefit is a few jobs for locals.

Answer 2

If you're talking about all the big American transnationals (WalMart, McDonald's, etc.), a huge disadvantage would be that American companies take away from the cultural landscape of Trinidad and Tobago.  Having lived in the Caribbean, I know that each island has its own unique, individual culture, and I also know that wherever American companies start establishing themselves, local businesses are usually forced out.  Places like McDonald's make much of the landscape the same.  So instead of seeing the small, local shops and restaurants that make Trinidad and Tobago what they are, you've got the golden arches everywhere.  It really sucks.

Answer 3

the major disadvantage is that these companies come in make huge amounts of profit and are given tax holidays as incentives to set up shop.  now im not saying that they dont hire locals eh, but the majority of locals hired are at the lowest end of the scale.  

additionally, almost none of these companies invest their money in anything in the country.  the profits are always sent to the home office.  they dont do any research and development at all here.  so there is no information to show how they being in the country has impacted -ve or +ve on the country, the environment, on our health, on our habits...nothing.

and unfortunately as lez said....what they do is increase our appitites for foreign products, and as such we move away from our locally grown and made products cause we start considering them 'inferior'. so all OUR industries suffer as a result.

Answer 4

There are disadvantages but not all of them who come here survive anyway, for examle Mc Donald's.....they had to pack up shop and ride not too long after they came, the main reason from my point of view.....if l want a burger, trust me l want to see it put together on spot, in other words FRESH, so this kinda burger sit down in bag waiting for me, just wasn't cutting it.

Now places like Pricesmart will make money here because we Trini's full of weself, so just the fact that any and everybody can't just walk in, you have to have card and membership, they like that.

Most of the other American companies are food-based, Ruby Tuesday, TGIF, Long John, Subway etc, and they will survive here because we like we belly.

But the main disadvantages to having them here l would say is that our taste for foreign stuff opens up and with all those different foods available, people ain't have time with planting crops and our import bills become very expensive.