Globalization is primarily of three types, namely, economic, cultural and political :
1. Economic Globalization:
No national economy is an island now. To varying degrees, national economies influence one another. One country which is capital-rich invests in another country which is poor. One who has better technologies sells these to others who lack such technologies.
The products of an advanced country enter the markets of those countries that have demands for these products. Similarly, the natural resources of developing countries are sold to developed countries that need them. Thus, globalization is predominantly an economic process involving the transfer of economic resources form one country to another.
2. Cultural Globalization:
Culture has increasingly become a commodity. Popular books and films have international markets. Harry Potter has readers almost all over the world. English movies are seen almost in all countries. Western pop music has become popular in developing countries. The reverse flow of culture is insignificant. The flow of culture is mainly from the North to the South. In the last few years the media owners of the West have shown interest in entering developing countries.
For example, Murdoch has opened TV channels (STAR News, STAR Movies and STAR Plus) in India. Cultural globalization has been facilitated by the information revolution, the spread of satellite communication, telecommunication networks, information technology and the Internet etc. This global flow of ideas, knowledge and values is likely to flatten out cultural differences between nations, regions and individuals.
As this flow of culture is mainly from the centre to the periphery, from the North to the South, and from the towns and cities to villages, it is the cultures of villages of poor countries which will be the first to suffer erosion.
3. Political Globalization :
Since long, efforts have been on to bring the whole world under one government. The League of Nations and the UN have been the efforts in that direction. It is believed that the world under one government will be safer and freer from conflicts: The UN has belied expectations, but a number of regional organisations like European Union, ASEAN, APEC and SAARC, and multicultural economic organisations such as WTO have come up.
The member-states remain sovereign, but through their obligations and commitments, they have, to some extent, integrated themselves to the concerned international organisations and groupings.