Globalization, in general, may be described as an integration of cultural and business oriented world markets. In broader terms, it could be stated as a global aspect that determines the economic, political, cultural and environmental events that take an impact on the consequences of the global society. With the advancement of technology, globalization has spread its wings through a wider area giving a sense of interdependence in activities related to culture, economics, social and various other aspects.
Globalization defined, according to the Human Development Report 1999, commissioned by the United Nations Development Programme as, “It is the growing interdependence of the world’s people through ‘shrinking space, shrinking time and disappearing borders."
Viewing from different perspectives, Globalization has to be analyzed by getting a clearer view of the impacts caused, both in positive and negative scenarios. Globalization has its major impact on varied fields, including cultural and social integration of the global society. There also had been a significant increase in trade in the past few decades owing to the impact of globalization. This is indeed counted on to have adverse effects to the society as well. It could probably bring about major economic, political and social disruption worldwide. In short, globalization has consequently made the world far better and worse in different perspectives.
Globalization- A Friend:
Globalization brings the world together with a single string which means the impact at one end cause an effect directly or indirectly along the whole line. Since globalization plays a major role in the development of world economy, it is in fact a vital necessity for every nation in order to increase its economy to a favorable one. It creates a healthy competition among the existing and new companies and ensures survival of the fittest. It is an undoubted fact that the global...