Globalization

In layman's terms globalization is a process through which people and companies from different nations interact with each other. Globalization is the process through which people expand their business and communicate with others regardless of their nation. No one can deny the fact that nowadays we live in a global village. People now easily can know what is happening around by a single click. By the blessings of modern technologies, people now live only one click away from each other. All the countries of the world now depend on each other for their survival. Many large organizations now have expanded their kingdom throughout the world. The growing interdependence of culture, trade, economy has proved that we all now depend on each other for survival. In general, it can be easily said that globalization has benefited us in different ways. For example, a person now can easily manage his company located in other countries by sitting on his own couch. Many large multinational organizations now depend on developing or underdeveloped countries for carrying on their production and assembling activities. It saves a huge amount of money and also creates employment opportunity in developing countries. However, there are no unmixed blessings in the world. Due to wide expanding globalization, small and cottage industries of developing countries also face a loos as the multinational organizations often capture their market. Moreover, in the name of globalization, developed countries often ruling the small countries by taking control of their economy. Easily access to the global market often create trade war which affects the world economy. The recent US, China trade war is an example of this.