Globalization is unification of various economies into single global economy. This is made possible due to the advances in technology. When distance barriers died down and national borders stopped being considered as any hurdle, globalization got a huge bang but still the challenges are there in the way of implementing complete globalization structure.
Society, governments, and other policy makers will have to answer the following challenges which ask for expanding the reach of globalization to every part of the world which does not seem to be possible by now. The fear that globalization would destabilize the national economy keeps the countries away from such daring steps of promoting globalization. Another challenge to be catered is the fear of industries that increasing competition due to globalization would lead to deterioration in wages and rights of labors, rate of employments, and environmental situation. All the complexities associated with globalization act as justifications for fading prosperity. There are always new ways to achieve the intended thing. Hence there must be some new ways which would collaborate in favor of whole humanity (Sewell, 1998).
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