Globalization has become a buzz word in the new era of international relations. It is virtually a process of expanding trade and commerce all over the world. It aims at creating a borderless and open market. It aims at removing all the barriers of entering goods and products from industrially developed countries. But we can see that it has a far reaching impact on many aspects of life. With the development of high technological communication media and rapid transportation facilities, the whole world has come closer and nearer. We can now learn in an instant what is happening in the farthest corner of the world and travel in any country within the shortest possible time. Countries of the world are now like families in a village which is known as 'Global Village'. If one country is in distress, others can immediately come to its help.
Capitalism developed in Europe s a result of their conservative policy. But now to ensure world wide market for the capitalist countries idea of global trade has become widespread. It is creating more opportunities for the developed and capitalist countries rather than under developed or developing ones. In the name of help and co-operation, capitalist countries are exploiting the cheap labour available in poorer countries. The global strategy of development promises greater employment opportunities to the people of poor countries but at the same time it also promises high returns to the capitalists.
Actually it paves the way to lasting poverty so that the capitalists can continue to use cheap labour of the poor countries. The exploited and impoverished workers of the developing countries can not be able to compete with powerful capitalism. As a result, the gap between the rich and the poor countries is ever widening. Although globalization is mainly related with business, trade and international relations, its impact is being felt in other aspects of life too. Satelite television channels and the internet are bringing all sorts of different customs and behaviour into our drawing room. Under the influence of globalization, global cultures are steadily getting integrated with local cultures. Different cultures are constantly interacting. As an independent nation, we have our own traditional social values, beliefs and attitudes. But in the globalizing process, many social customs and beliefs are intruding on our traditional values, beliefs & cultures. This is playing a great and profound influence on our young generation in particular.
The intrusion of foreign culture is seen by many people as an assault or aggression to our national cultural identity. The industrially developed countries of world are thus having benefits from globalization for selling their products in the international market. At the sametime, they are purchasing workers from the underdeveloped countries at cheaper rate. The developed countries are controlling the international trade and business in the name of globalization.
