Globalization was the dominant ingredient in the discourse throughout the 1990’s after the fall of the USSR, as people were tasting freedom from decades of repression of the secret services. They opened their arms towards Globalization, as the magic pill; the panacea that the world needed. Then came the wrath of the Chicago School economist led multi-lateral institutions like IMF and World Bank whose reforms drove people into poverty, hunger and deprivation through wild west economic restructuring that brought Russia, the former USSR nations to their knees. It was the kind of economic shock doctrine which Naomi Klein calls in her book of the same name. Liberalization of economies has indeed brought in a lot of good but crony capitalism and capital accumulation has also intensified in economies in the developing world such as India. Globalization championed by the spokesman of the Business Media-Tom Friedman, wrote a good PR tool can flattened a very biased discourse, only showing the rosier rhetoric of the paradigm. Economic Globalization has been catastrophic, it has only forwarded the imperialist design of the wealthier west by extending their business might; crushing the weak guy who is now protesting at Occupy movements throughout to be without a voice and helpless.
Cultural Globalization is the advocacy of a mono-culture. It is annihilating, local cultural ethos in the developing world. Every one knows Friends and Two and a Half Men in Singapore, but how many Americans or Swiss know of Phua Chu Kang or the Heartlands?. Globalization is Orientalism 2.0, and its quasi Americanization at Best. It is the Mc Donalization of Culture. Glocalization is an oxy moron at best. Apart from Anime which inspired the Matrix, we have RA ONE in India coping Iron Man; dont we have our own culture to commercialize and popularize?
Globalization has its pluses, but its minuses are far more, Globalization has its evangelists but counter culture is hitting back with a vengeance as well.