Globalisation

Globalisation

1. What is it

   • Globalization is the process of worldwide integration of economic, financial, cultural, environmental, and communication system.

2. What does it involve

   • It involves goods and services, and the economic resources of capital, technology, and data

3. Advantages

   • Globalization broadens our minds. We feel that we belong to one world and we are a part of one nation, namely, humankind. Closer contact with foreign people make us quite familiar with their manners, habits, and customs. The cultures become richer as they come into contact with each other.

4. Disadvantages

   • In a way, globalization has contributed towards increasing the gap between the rich and the poor. Rich and wealthy people are able to exercise more control over the national resources through the application of science and technology.

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