the impact of globalisation on the world

In the process of globalisation, the world has not only witnessed improved economic states and greater standards of living and quality of life, but also the coming together of a large world. Globalisation is not merely an economic phenomenon, but also extends to social and cultural aspects. In the past decade, where globalisation has been most prevalent, there has been growing contact and transfer of social and cultural aspects. While those in opposition to globalisation may claim an “Americanisation” of the world, there has been an undeniable impact of other cultures, such as Asian cultures, on society at large.
Globalisation has affected different economies in different ways. It is generally accepted that high income and newly industrialised economies are the winners of the past decade. This is due to fast economic growth, increased trade and increased investment flows.
However, those of lower income economies do not seem to have gained any real benefit from globalisation. Ov...