And this could be reflected in phrases like “global economy” and “global village” which are now very commonly used in Model United Nations (MUN) all over the world. A great reduction in the trade tariffs and barriers has been seen in international trade which has encouraged free flow and movement of goods from one country to another. Apart from that, economic institutions such as the World Trade Organization (WTO) and International Monetary Fund (IMF)also help in the facilitation of barrier –free flow of goods and services amongst nations. Increased interaction and communication of people belonging to different cultures is known as cultural globalization. When different cultures meet and interact with each other, it results in identical values, morals, ethics and philosophy. The increased movement of cultural globalization has had a huge impact on populations all over the world. Informational services all over the world have seen an internationalization of technologies such as Internet. Even though this expansion of technology has had some bad influence on some populations, such as the creation of Digital Divide, one cannot deny the advantages it has brought to the world of technology. It has had a dramatic impact on communication technology. The rise in the transmission of popular culture has eased its way from the countries of the North throughout the entire globe. (Robertson, 1992) The hegemony of “Western alien” culture over domestic culture has been analyzed and criticized by many critics.
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The term Globalization refers to the movement of knowledge, ideas and goods across national borders. It is the diffusion of information and practices. This word became widely used in the 1980’s in order to describe the increased interdependence and connectivity of countries all over the world. The interconnectedness of the countries is not just economical, but it is also political, social and cultural…
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ibute value to the consumers, to today’s idea of creating value by providing experiences to consumers, to which they actively contribute through insights.
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8 pages (2000 words)Essay
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