Globalization means bringing the economies of all the countries of the world together in a systematic way, resulting in the whole world becoming a streamlined huge market.
The process of globalization is complex.
This process involves modernization, industrialization and capitalism.
The features of globalization are as follows:
1. The complex process is:
The process of globalization is complex.
After all, liberalization and privatization are closely linked.
The process is complex and difficult as globalization, liberalization and privatization interact.
Globalization affects both cause and effect. Hence it is a complex process.
2. A multi-faceted process:
Globalization is a multi-faceted process, be it economic, political, social, cultural, etc.
Sociology studies only the social and cultural aspects of globalization and its consequences.
3. Process suggesting innovative discovery and proliferation:
The process of globalization has encouraged the discovery of new industries and new mechanics.
New discoveries have gained momentum and opportunity to spread around the world. E.g. Internet use and service industry.
4. The process of awakening the consciousness of civil rights and humanity is:
The process of globalization has awakened the consciousness of civil rights and humanity.
This process has eradicated poverty from the world and given rise to pressures for education and health.
The government is forced to make laws like Right to Information Act, Food for All etc.
Has developed a sense of humanity to rescue and help each other in the face of natural disasters due to changes in the environment.
5. Global culture:
According to some scholars, the process of globalization will result in the emergence of a ‘world culture’.
This will include elements such as family, marriage, entertainment, art, literature, etc. E.g. Celebrate Valentine's Day in all countries of the world.
6. Synchronizing culture:
Due to the process of globalization, the processes of telecommunication, tourism, migration, communication, etc. have become so fast that it has become possible to integrate the cultures of the world coming into contact with each other.
E.g. Bhangra, pop and fusion music.
7. Currency of exchange:
In the process of globalization, the instrument of exchange has become not a thing but a currency.
An example of this is the 'euro' currency in Europe.
8. Dominance of markets:
The process of globalization has created a global market.
This has increased the importance of the market in trade and employment.
A structure of the world economy has been formed.
As a result the methods of consumption of things have become the same all over the world.
E.g., noodles, pizza, etc.
9. New social movements:
According to Yogendra Singh, "In developing countries like India, the changes brought about by globalization have given birth to agitations."
These movements include women's rights movements, group discussions on the environment and pollution, and environmental protection movements, human rights movements, and so on.