The term "globalisation", in essence, refers to the change of spatial and temporal limitations, which is the reduction of distance because of the remarkable reduction in the time required to bridge spatial differences which has, in turn, caused the slow integration of economic, social and political space across state borders. Even though, globalisation is often solely related to the financial field, which is with processes of distribution, production and consumption along with financial services and growing global trade, financial globalisation is intractably interwoven with changes in the cultural, social and political fields. In addition, globalisation is an extremely multifaceted and complex occurrence. There is, on the one hand, the tendency towards synchronisation, homogeneity, unity, integration and universalism. Also, there is the tendency for localisation, differentiation, heterogeneity, particularism and variety. These procedures are intricately intertwined. They represent, in reality, two sides of the same coin. Hence, the phrase "globalisations" is at times used to show that globalisation is not an ever-present or standardised process, but involves a variety of manifests, terrains differently in diverse contexts. The term – "globalisation" – is used to show that globalisation has different effects for individuals in diverse contexts (Cunningham, 2001).
In this rapid globalising planet with all its challenges, struggles for identity have come out as one of the most outstanding traits of the cultural, social and political field. ...