The growing global business relationships and interaction between various cultures have resulted in greater economic development and better understanding between people across the globe. However, some people believe that such developments have led to the degradation of the individual identities of many countries.
On the one hand, the establishment of large international businesses firms has created a great number of jobs for the educated and skilled youth in many underdeveloped countries. For example, the arrival of software and outsourcing companies like Google and Accenture from the United States have created enormous jobs for engineers in India. At the same time, these companies have been able to reduce the cost of their operations by relocating to less expensive locations of the world.
Similarly, today people in many countries are able to enjoy music, dance, theatre and other cultural practices of other countries. This has helped them to appreciate other cultures and it has often become a positive impact on their own cultures. For example, western music and movies are very popular in many parts of the world, and in India films and film music have been greatly influenced by the technical advancements of the west. At the same time, Indian spiritual and cultural practices like yoga and meditation have been extensively practiced by many westerners, especially in the recent times.
On the other hand, People's food and dressing habits and entertainment options are dominated by international business firms, whereas traditional lifestyles becoming unpopular. This has led to the internationalisation of culture directed by multinational companies. This is evident in the increasing popularity of fast-foods like Pizzas, Burgers and fried meats of multinational chains like KFC, Pizza Hut and MacDonald. In contrast, many traditional dishes are becoming less popular or even extinct all over the world.
In conclusion, although we need to acknowledge that globalisation has resulted in a certain loss of cultural identities, it has enormous benefits in terms of economic development and cultural evolution of the world. Therefore, from a broader perspective, accepting such changes can only be considered as a positive development.