Economic and Trade Globalization

It has changed the dynamics of trade globally. Due to vast exchange of products, services, labor, it has affected almost each and every individual across the globe. With countries making most out their available resources has led to its development. The resources that are in abundance are traded with other countries facing deficit and thus globalizing its Economy and trade.
India is largest exporter of software products and services to the west and that gave me an opportunity and security to chose a career in Information Technology. Just assume if there wasn't high demand for software products in the west it wouldn't have been an multi-billion dollar industry in India providing livelihood hood to millions there. I was working for Home Depot in India. And we developed back end financial software and IT services for them. So it helped me to get a job.

Financial Globalization

Globalization has affected a lot financial institutions like banks. The US dollar is universally the preferred mode of financial transaction. The countries that mainly depend on exports favor increase in US dollar( or any other major currency) because that increases their earnings and as well as increase foreign exchange. The banking system depicts the financial health of a nation. The collapse of various banks in US and Europe gave birth to global financial crisis.
It has a good impact on me too. Since to pay my tuition fees I need to purchase Can $, which are rising higher and higher globally and thus making my tuition more expensive which is already four times the average Canadian student pays. Thus interdependence on the financial health of nations is becoming more and more evident.

Political Globalization

The alliance between various nations to achieve common goals and objectives with maximum benefits to its citizens leads to political