Abstract
Globalization is the process of making businesses, philosophies, cultures and technologies on a worldwide basis, and where the global economy is characterized as being an interconnecting market place. According to George Stonehouse and his co-writers in 'Global and Transnational Business', 'Globalization refers to the development of global or worldwide business activities, competition and markets and the increasing global interdependence of national economies.' Nowadays, there are a large number of theories concerning the term globalization, and the debate mainly concerns the implications and the nature of this highly controversial process. Does globalization have the potential to create greater opportunities for growth without inequalities and dangerous consequences?
