Globalization – challenges and debates

Globalization refers to the emergence of a global society in which economic, political, environmental, and cultural events in one part of the world quickly come to have significance for people in other parts of the world. Therefore, globalization is a process leading to increasing integration of the national economies and diminishing importance of political boundaries so far as economic, political and social activities are concerned. This paper explains the meaning of globalization in five broad conceptions, reasons for globalization, key institutions of globalizations and debate over globalization.Globalization, Development, Challenges, Developing Countries