Although globalization has many definitions, its essence is the unification of global culture for the collective growth. The major enemies for economic growth in many countries are internal and external conflicts. Such conflicts as those between India and Pakistan, Israel and Palestine, United States and Afghanistan among others are causing immense damage these countries’ economic development prospects. Many Americans believe that the current financial crisis affected America severely because of the huge expenditure made on war on terror.
When globalization initially appeared on the horizon, many developing and underdeveloped countries watched it suspiciously. Many people suspected some hidden agenda of the capitalist countries that were behind globalization. The slogan of collective growth or the principles of globalization that the capitalist countries put forward were considered as their deliberate attempt to exploit the wealth and natural resources of other countries. China was the front-runner in spreading this message to other countries. However, presently, China is the leading country as far as the exploitation of globalization is concerned and America is struggling to reap the benefits out of globalization. Brazil, Russia, India and China (BRIC countries) are the front-runners as far as the exploitation of globalization are concerned.
The recent economic crisis affected America more than any other country in the world. While American organizations started to collapse one by one, the organizations in BRIC countries escaped without many damages. Foreigners at present exploit the American market whereas America failed to exploit the global markets as effectively as some of the other countries did. Foreign countries invest in American share markets or in Wall Street Firms wherein they make a substantial income. Moreover, India and China-like countries have benefited immensely from the