Globalization

Globalization is the process by which the experience of everyday life, marked by the diffusion of commodities and ideas, can foster a standardization of cultural expressions around the world. The term "globalization" has acquired considerable emotive force. Some view it as a process that is beneficial--a key to future world economic development--and also inevitable and irreversible. Others regard it with hostility, even fear, believing that it increases inequality within and between nations, threatens employment and living standards and thwarts social progress. (Joseph E. Stiglitz, p.9, 2003)

Globalization, a term that was not so familiar few years from now, is one of the most talked about topics these days. The world, not so big, is shrinking even more with the discovery of globalization. There are many issues and questions regarding globalization of this world. Globalization has affected us in a very positive manner. Human beings are connecting with each other politically, culturally, economically and technologically.

Globalization has brought the world together as one big nation. There is border-to-border communication and trade. Economically speaking, globalization has opened doors for trades. It has embraced trading of various products from country to country hence boosting the world's economy. A product of a certain country can be known and exposed throughout the world (Manfred B. Steger, 2003). Not only the manufacturers and retailers take advantage of it but also consumers are benefited through globalization. It gives them variety of good quality products for competitive prices. Supporters of free trade also point out the advantages of globalization for example, lower prices of products and more employment.