Please help to rephrase as following:
To appeal to many audiences globally in different countries, most hollywood movie storylines are now simplified to emphasize action and spectacle over character development, ignoring or trivializing complex issues.
In early 1980's, the storylines of Hollywood movies have reflected not the contemporary social commentary of Seventies movies. For example, movies like Indiana Jones portrays us the historical events before world war along with fantasy but in recent movies makers are only concentrating on VFX and action movies so that they can gain more money from outside North American market.
Nonetheless, Hollywood's ongoing production of Reagan-era movies and their commercial popularity worldwide suggest that the movie formulas that prevailed have enduring appeal both as franchises for the major studios and as consumable cultural commodities for an expanding global audience.
Hollywood's blockbuster cultural colonialism presence led by multimedia conglomerates such as viacom, Disney not only dominating moviemaking worldwide, a process capatalized early 1980's but also employs a colonalism style of storytelling that may aggravate cultural relations with other nations.