Globalization can be defined as spreading, combining and collaborating on mainstream economic, political and cultural ideas and practices all around the world in a way that allows people in other parts of the world to connect and experience things they may not have always known. (Stiglitz, 2006)
The idea of globalization many times can go hand in hand with the idea of capitalism because businesses spread their ideas and products all over the world for all people to share. (Stiglitz, 2006) Some people are happy with the effects of globalization on the world because it allows cultures to interact and overlap. For example, kids in China may be able to eat lunch at McDonalds or kids in Europe can shop at the Gap.
However, others may believe globalization has had a negative effect on the world because it interferes with the cultural and religious beliefs of people in certain areas. Another negative aspect of globalization can be the fact that people of a certain culture and religion could lose their identity because they become so consumed by influences from other parts of the world. People also believe globalization could have a negative effect on the world because mass production of goods and services being spread around the world could have harmful effects on the environment. (Stiglitz, 2006)
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