People around the world are more connected to each other than ever before. Information and money flow quicker than ever. Products produced in one part of a country are available to the rest of the world. It is much easier for people to travel, communicate and do business internationally. This whole phenomenon has been called globalization Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. Many aspects of globalisation - information technology, the rapid movement of international capital, efficient trade transactions, and access to a more diverse range of products - benefit economic elites. Globalization has most notably influenced businesses to build factories oversees or buy products from other countries and then build the final product in the home country. Globalization is wonderful for some businesses and for the consumer. Let’s look at Wal-Mart as an example. Wal-Mart purchases products manufactured all over the world and offers low prices to consumers which I think is absolutely right. Globalization has increased the number of markets and thus expanded trade to support a global economy instead of just local economies. Infact now a farmer can sell his crops not only within a country but outside across the boders also.Goods and people are transported with more easiness and speed. Standardisation of product: the same products can be seen in some many places - e.g coke and McDonalds. Globalization has in more recent times been increasing rapidly due to improvements in communications, information and transport technology. It has also been encouraged by trade liberalization and financial market deregulation.