For many in the history of mankind certain terms must have attained their attention either in elaborate terms or in many fixed definition where the approach varies according to the situation. In all these definitions and terms, the most vibrant among all is the pattern title of ‘Globalisation.’ Many definitions have been provided to extract the main theme of its implications but the most authentic one can be referred to as from the world bank. In the categorical diction of the world bank, Globalisation manifest itself as “The growing integration of economies and societies around the world and an inevitable phenomena in human history which brought in closed contact the world through exchange of goods, products, information technology and overall the culture.”
Globalisation in today’s world is in short the strengthened hand for better economy and in developing economy of a country to far hands two leading institutes of the world are in full pace named as IMF and World Bank. These two leading financial institutes are changing the structure of globalisation. On flapping the pages of world history, the collapse of soviet bloc provided an amun opportunity to its rival arch the position to rule and manage the world economy. With the passage of time, the process of globalisation has been implemented, strengthened and promoted through these two head economical institutes of the world. Amor Sarr, in very low tone commented over the status of these institutes which are playing strong key role in the globalisation phenomena that these institutes are not for mere profit, but their main profit is to control the global south, G-8 natural resources, land, labor and markets. The situation reflects the deregulation of global economy market, information technology in trade, banks, broad cast media and telecommunication.
When the lashes of 20th century witnessed the dawn of new era, it experienced many changes ranging from environment to the great wars. The process of globalisation is different which is happening today from that of early times. In today’s globalisation it involves geographical changes as well as certain other international activities as like the interdependence and interconnection of world economy globally. Economy wise globalisation is effecting the lives of poor, the people of developing countries. It is not for poor, not for environment, not for economic stability of poor people and developing countries but it is only for the rich. At the dawn of twentieth century, history witnessed many changes of hybrid characteristics in mankind but they were not new as mankind has been involved in the process of interaction for so long through out the history but today’s globalisation is different due to its rapid speed due to various reasons on the hit list which is connectivity. Internet has revived the shape of globalisation sometimes in the shades of rules and on many occasion devoid of having any rules. For the following reasons no one can assess its impact on culture, politics, economy, finance, ecology, and the utmost human socio-psychological environment. Hobs Bann commented on these changes as “Globalisation means wider, but not necessarily equal, accurate for all, and will lead to an increased disparity between the haves and have not's.” In today’s world incase to resist the process they give it the name of nationalism, fundamentalism and many other such ‘isms.’ For many globalisation benefits and for so many it fits in the word of befall. In today’s world globalisation is not new but the speed which it has gained is new having an acceleration for better global economy capital.
