| Some years ago, it was difficult to imagine seeing | | | | Globalization has benefitted countries all over the |
| a Domino's Pizza outlet in a quiet neighbourhood in | | | | world in more ways than one. Apart from the |
| Thailand or shopping at Marks and Spencer in | | | | direct political and economic implications, it has |
| Singapore or using your credit card in any part of | | | | enabled the world come culturally together. English |
| the world. Welcome to the golden era of our | | | | for example, has become a universal language of |
| times. An era where the entire world is under one | | | | sorts. Fashion, trends and news ideas through |
| roof. | | | | travel, trade and media move across the world. |
| This movement called Globalization started in the | | | | Sharing of best practices in industries, access to |
| second half of the 20th century when | | | | better talent and technology has all been possible |
| governments felt the need to open their | | | | because of Globalization. |
| boundaries to other countries for trade, | | | | Global brands such as Reebok, Pepsi, Panasonic, |
| investment and migration. Globalization helped | | | | Sony etc cater to consumers all over the world. |
| them see unprecedented growth in their | | | | An individual in India wears the same brands as an |
| economies, the kind they had not seen in | | | | individual in Mexico. Technologically too countries |
| centuries. Also the widespread increase in the | | | | have benefitted greatly from Globalization. News |
| usage of internet and IT enabled services | | | | and media have evolved and communication |
| furthered the development of their economies. | | | | systems have improved. Internet revolution has |
| As a result, people had access to products from | | | | provided a common platform and enabled people |
| various countries at their doorstep. Whether it's | | | | across the world to communicate with each other |
| German Cars, Egyptian cotton, American soaps | | | | easily. |
| and music, Belgian chocolate or Columbian coffee; | | | | Everything that one can think of and things that |
| people were able have a taste of products and | | | | one cannot even imagine are available on the web. |
| services from across the world. Economies in | | | | Transportation systems have become robust and |
| developing countries benefitted from Foreign | | | | costs have come down as result of technological |
| Direct Investment (FDI) i.e. investments from | | | | advances that make foreign markets more |
| other countries in the assets of their country. | | | | accessible to trade. Tuna caught in the North |
| Open economies have allowed people to travel | | | | Atlantic may be served the next day at a Sushi |
| freely and to work in other countries. | | | | restaurant in Sri Lanka. |