Art still lives even as the markets often muzzle it. The movie industry went global long ago. Like all big industries, it is catering to globalization pressures, which in much of the world is equated with Americanization. American penetration in market after market, territory after territory is already well advanced. Increasingly, U.S. firms are buying up screens and production entities around the world.
Some countries try to resist with quotas, but it's a tough and often losing battle.
They have fewer chips to play with than the global media giants. This means the use of cheaper, non-union labor, like in Canada. At the same time, many international players resent it when Americans make movies abroad and don't hire local craftspeople, even when they are highly skilled. That was a complaint I heard from someone in the Italian Film Commission who was pushing for more cross-border collaboration. They want their beautiful regions, like Tuscany, used as more than mere picture-postcard sets.