Globalization
By Wania Qaiser
What is
globalization?
• Globalization is the process of increased
interconnectedness among countries
through trade, culture, technology, and
politics. It leads to the exchange of goods,
ideas, and information across borders,
creating a more integrated world. While it
boosts economic growth and cultural
exchange, it can also cause challenges like
inequality and environmental impact.
How does globalization impacted on
local cultures and traditions?
• Globalization has both enriched and challenged local
cultures. On the positive side, it promotes cultural
exchange and spreads awareness, allowing local
traditions to gain global recognition. However, it can
also lead to cultural homogenization, where global
trends overshadow local customs, and the
commercialization of traditions, diluting their original
meaning. Some languages and cultural practices risk
fading away as global influences dominate.
How does globalization help with
interaction?
Globalization enhances interaction by connecting people,
businesses, and governments across borders. It promotes
communication through advances in technology, allowing
instant sharing of ideas, news, and information worldwide.
International travel, trade, and collaboration are easier,
fostering greater cooperation in fields like business,
education, and culture. This increased interaction helps
build global networks, encourages understanding between
different cultures, and strengthens diplomatic and economic
ties.
What are the benefits and challenges of economic
globalization for developing countries?
Benefits of Economic Globalization
for Developing Countries: Challenges
• Access to global markets • Dependency on global
boosts growth. markets creates economic
vulnerability.
• Foreign investment creates
jobs and infrastructure. • Exploitation of labor and
resources by multinational
• Technology transfer companies.
improves skills and
• Inequality widens within and
innovation.
between countries.
• Higher standards of living
• Local industries may struggle
through increased incomes. to compete, leading to job losses.
