Globalization is the term used to describe the liberalization and interdependence between the world’s economies, cultures, and populations (Peterson Institute for International Economics). Globalization encompasses the growing cross-border trade of goods and services, foreign direct investment (FDI) and foreign portfolio investment (FPI), technology, and information between countries. Think of it as a “McDonaldization” of not just capital, labor, and commodities but of lifestyles, ideas, preferences, food, culture, and values–the interaction amongst people within states plays a vital role in transforming not just political institutions, but cultural standards (norms), and social connections (Swathi Hosamani and Shravani Hosamani 4). Furthermore, globalization brings Read more