Globalization is a process through which the world is increasingly connected and interdependent. This process is largely associated with economic and political change. It is a step towards a more integrated and interdependent world. It is the process of denationalization of markets, politics and legal systems, i.e., the rise of the so-called global economy. It promotes connectivity, free trade, cultural diversity, mobility and changes in ITC.
Globalization is the process of international integration, generating further interdependence of economic and cultural activities. Globalization in its basic economic sense refers to the adoption of open and unrestricted trading markets (through lowering of trade barriers, removal of capital controls, and liberalization of foreign exchange restrictions). Huge money movement, increased volumes of trade and changes in ITC are all integral to a global …show more content…
Coca Cola, McDonalds, and Nike are examples of such growth and propagation. The media then plays a major role in advertising the benefits of new products and services as being “better and superior” to what the local market has. The food that we eat, the clothes that we wear and the lifestyle that we lead begins to change.
At one level it may appear that globalization has no significant impact on families and that our lives are ‘normal’ in most circumstances. Many people are not totally aware of how they form a vital part of this fact. The reality is that every single individual is affected in one way or another. These changes affect identities and cultural values of the people. Whether it is between generations, or intra-personally, new values can cause conflict and difference with existing deeper-rooted values. Sometimes such transitions can further cause complexity with internal growth and