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Undoubtedly, globalization has provided a humungous amount of benefits to developed, developing as well as under-developed nations; however, there are some disadvantages as well.
As a result, they lose their individuality and just end up being a copy of someone else.
Next, due to advancements in modes of transportation, it has now become very easy to travel locally and overseas.
Taking the case of Ghana for example, ‘the end of the Second World War was significant for Ghana’s gaining independence and a turning point in the history of the Gold Coast’ (Ofosu 2010).
And just like Scholte argued that situations occurring in a country thousands of miles have a way of affecting the economic, social and political situations in one’s country, the rising up of capitalism in the United States and Socialism/Communism in the Soviet republics were to Ghana’s benefit as they assisted in the achievement of independence.
Although it is believed in many quarters that the two major forces behind globalization are entrepreneurship and technological innovation, these two alone cannot give an explanation of the process of improved economic integration.
Through the elaboration and adoption of market-oriented policies and regulations at both the international and local levels, the national governments have played a very vital role in allowing greater interdependence and economic integration of specific activities (Bertucci & Alberti 2001).Globalization has several definitions, but an undisputable fact which everyone agrees to is the fact that it is a complex process that has wide and varying impacts on economies, both developed and developing.Looking critically at the concept, globalization in its broadest sense can be said to be a prismatic, complex, and multidisciplinary topic.It can be examined from several angles which includes not only economic, the most common viewpoint, but also social, cultural, ideological and political ones.James Rosenau, a foremost political scientist, defined globalization as ‘a label that is presently in vogue to account for peoples, activities, norms, ideas, goods, services, and currencies that are decreasingly confined to a geographic space and its local and established practices’ (Stallings 2000).Globalization is truly a complex phenomenon ‘which encompasses a great variety of tendencies and trends in the economic, social and cultural spheres’ (Bertucci & Alberti 2001).It is dynamic and unpredictable, although not entirely disordered.Globalization is widely accepted and referred to as ‘the widening, deepening and speeding up of world-wide interconnectedness in all aspects of contemporary social life, from the cultural to the criminal, the financial to the spiritual’ (Lawal, 2006).This widely accepted definition shows the way in which globalization today connects the cultures and communities in one corner of the world to development occurring in another country.Even though globalization affects the world’s economies in a very positive way, its negative side should not be forgotten. To begin with the negatives of globalization; first of all, expansion of media has resulted in generation gap as well as cultural shock. I will discuss the advantages and the disadvantages of globalization in the following paragraphs.