Alternatively taken as synonymous with globalization are the concepts of free market, economic liberalization, westernization or Americanization, technological (Internet) revolution, global integration, and internationalization (Scheuerman, 2006).
“…the fundamental changes in the spatial and temporal contours of social existence, according to which the significance of space or territory undergoes shifts in the face of a no less dramatic acceleration in the temporal structure of crucial forms of human activity.” (Scheuerman, 2006)
Broken down to its essential concept, globalization is the change in our culture because of the growing insignificance of time and space in our lifestyle and in the manner we deal with one another. People get in contact and interact in progressively shorter periods of time, and often almost instantaneously, such that the illusion of no-distance is perceived to exist among us. This is not confined to the use of electronic means of communicating long distances, but encompasses rather the vast area of elements and attributes that define human existence.
This definition given to globalization also precludes the idea that any one country or culture dominates the acculturation process. Globalization had been associated with Westernization (or Americanization), giving way to “a psycho-cultural underdevelopment… expressed in a desire to imitate blindly the Western way of life, thought, and development pattern” (Dhaouadi, 2002). In the first half of the twentieth century, it is undeniable that the US and Western Europe were the predominant net providers of capital in the world, and Asia, Africa, the Middle East, and much of the rest of the world were net users. Classical economists argue that economic growth depends upon capital accumulation, and in the case of a lack of it, then capital infusion to generate production (Muhammad, Majeed,