Cultural Implications Of Globalization

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INTRODUCTION The term globalization is used to describe the changes in the world order where different aspects of a nation are viewed as part of a global community. It is broadly used to refer to increased interdependence and integration of international social relations and economic activity. Although the term tends to have economic connotations, it also involves an increase in technology usage, exchange of knowledge and ideas as well as research and development. It is the increasing interaction of people, states, or countries through the growth of the international flow of money, ideas, and culture. Globalization is primarily an economic process of integration that has social and cultural aspects. It involves goods and services, and the…show more content…
The steam locomotive, steamship, jet engine, and container ships are some of the advances in the means of transport while the rise of the telegraph and its modern offspring, the Internet and mobile phones show development in telecommunications infrastructure. All of these improvements we enjoy in the modern era have been major factors in globalization and have generated further interdependence of economic and cultural activities. In 2000, the International Monetary Fund (IMF) identified four basic aspects of globalization: trade and transactions, capital and investment movements, migration and movement of people, and the dissemination of knowledge. Further, environmental challenges such as global warming, cross-boundary water, air pollution, and over-fishing of the ocean are linked with globalization. Globalizing processes affect and are affected by business and work organization, economics, socio-cultural resources, and the natural environment. Academic literature commonly subdivides globalization into some major areas such as, economic globalization, cultural globalization, political…show more content…
It led to the emergence of a single global market or “market civilization”. The flow of capital across the border of the nation states led to emergence of single global market and the nation states are unable to control the movement of capital. Globalisation is primarily an economic phenomenon for Hyperglobalists. They argue that the economic globalisation is constructing new forms of social organisation which will eventually supplant traditional nation- states as the primary economic and political units of world
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