When Separate People Become One: Globalization

Globalization refers to the unification of of culture, people, and economic activity internationally. This has stemmed from the idea that a single world order has been created out of social and economic relationships. Globalization has allowed countries that are more developed to aid in the economic development of less and under developed countries. As a result business owners have been afforded greater investment opportunities. However this benefit only results if the economy permits. While globalization can provide a business owner with international success, it can also lead a company to an internal debacle. If the economy of a country, within a globalized unit experiences failure, the other countries within the unit may unwillingly be pulled down by the economic failure of that country. The country who collapsed may cause the other countries in the unit to collapse even further. The ongoing fiasco within the European Union is a clear example of how the mistakes of one country could lead others to plummet. A good lesson for one to keep to heart when thinking about globalizing: choose your friends wisely.