Economic Meltdown ~ What Does Globalization Mean to the United States? Financial Markets - New York Stock Exchange

Economic Globalization may have various strong impacts on different world cultures. Populations may mimic the international flow of capital and labor markets in the form of immigration and the merger of cultures. Foreign resources and economic measures may impact different native cultures and may cause assimilation of a native people.[80] Researchers are now studying the effects of economic globalization on the youth in various world populations such as Arab, South American, South East-Asian, Caribbean, and African populations. As these populations are exposed to the English language, computers, western music, and North American culture, changes are being noted in shrinking family size, immigration to larger cities, more casual dating practices, and gender roles are transformed.

Yu Xintian wrote in a cultural impact study that there were two contrary trends in culture due to economic globalization.[81] Xintian argues that culture and industry not only flows from the west while affecting people, but he says there is also a cultural nationalization or an effect of localization that wishes to promote and protect individual cultures. He also points out that economic globalization began after WWII, whereas internationalization began over a century ago and is something completely different.[82]

George Ritzer wrote about the McDonaldization of society and how fast food businesses spread throughout the United States and the rest of the world, forcing world populations to adopt fast food culture.[83] In this book, Ritzer also writes about how other businesses have copied the McDonalds Corporation's business model for expansion and influence. In 2006, 233 of 280 or over 80% of the new McDonalds opened were overseas. In 2007, Japan had 2,828 McDonalds locations and serves as just one example of the globalized effect of international corporations. The Body Shop, a British ecologically conscious cosmetic company, represents the process of McDonaldization working in all directions.[84] Various countries export their own versions of McDonaldization but have the same influences in standardizing world culture.

Global media news companies export information through news, radio, and internet. This creates a mostly one-way flow of information, and exposure of mostly western products and values. Companies like CNN, Reuters, and the BBC dominate the global airwaves while having a particular western point of view. Other media news companies such as Al Jazeera may offer a different point of view, but have a far smaller audience and thus effect fewer people in influence.

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