In simple terms, the phenomenon of ‘globalization’ is perceived as increased inter-connectedness of the world (Papers4you.com, 2006). However there are three primary defining pillars of globalization that includes cultural, political and economic dimensions (Potter, 2002). It was argued that ‘cultural globalization’ is increasing convergence of cultural styles on a global norm, with that norm being codified and defined by the global capitalist system. Now cultural values and norms are shared and adopted among people in a way where we are giving rise to one global culture. Similarly it was asserted that ‘political globalization’ is regarding as erosion of the former role and power of the nation-state

The economic globalization was flourished in 1990s and many examples can be taken to validate this argument (Papers4you.com, 2006). For instance Western European integration was first step towards economic globalization by European countries through signing Maastricht Treaty in 1991 that lead to creation of single market in 1992 and set base for European Union that was on full operation in 1999. Similarly 12 members of European Community and seven members of EFTA formed European Economic Area for free trade including 380 million people and accounted for 40% of world trade (Meredith & Dyster, 1999).