Globalisation is a relatively modern phenomenon being driven by advancements in technology. The speed of long distance travel using aeroplanes and highspeed trains, and also the instantaneous character of telecommunication have together essentially transformed our world into a global village. The farthest corners of the world can be accessed in a matter of hours while communication can established in mere seconds.
With this development, the barriers to international trade and human interaction have removed, allowing for more integration of business activities between countries and across continents. We now have a situation where, the raw materials that feed industries in the Americas and China are sourced from Africa; the specialized components that technology gaints in the USA use in the production of their products are manufactured in Taiwan. Access to new markets is also a result of globalisation, as we now have scenarios where pharmaceutical companies examine the prevalent health issues in a certain region, then they produce medicine that treats that ailment and sell the treatment through trade partners in there. This is made possible by the short travel and communication times. Entertainment is another multibillion dollar industry, that owes its lucrativity to the globalisation effort, especially hollywood, which has maintained its premier status in the movie industry; they churn out a large number of films which are shown in cinemas around the world, generating huge revenues for both, the cinema owners and the film producers, as well as all other actors involved in the value chain.
Nevertheless, there are downsides to this phenomenon. The erosion of cultural identity is the most significant in my opinion. The emerging generation that are being raised on audio-visual digital content that promote values which are at odds to those their parents are trying to make them imbibe, would most likely end up losing their identity. This will happen because they are trying to conform to the ideals endorsed by, either their idols or favorite TV characters. Another area of concern, although obscure yet very real, is the activity of foreign actors in the internal affairs of sovereign nations. Globalisation has made impossible for countries with means to sit on sidelines and allow affairs of nations, in which they have vested interests, to proceed without interference. This has led to many espionage incidents, and has caused a lot of friction in bilateral and multilateral relations.
In conclusion, globalisation is very good thing, it has fostered inclusivity, improved the quality of life around the world, facilitated the advancement of science, and humanity is largely better for it, but there must be gaurdrails to ensure that our individuality as a people with diverse cultures, identity, and heritage are not lost. Humanity has come this far because it has also prioritize the memory of its past as a way of illuminating the future.