Understanding Cultural Hybridization and Globalization Through the Benefits and Risks on Economic Growth

Understanding Cultural Hybridization and Globalization Through the Benefits and Risks on Economic Growth

Dzulfikar Mahtar (Universiti Utara Malaysia, Malaysia) and Norbayah Mohd Suki (Universiti Utara Malaysia, Malaysia)
DOI: 10.4018/978-1-7998-3042-9.ch010

Abstract

The purpose of this writing is to critically examine various issues and understand the main talking point in globalization, which is the impact it brings to the economic growth and the benefits and risks associated with it. In a fast-paced world, where information and communication is power, globalization in a nutshell is a worldwide agenda that is primarily targeted to bring the best out of each and every member of the economic cycle. Globalization in the world's business is undeniably known as a catalyst that paved the way for aspiring entrepreneurs and business entities to acquire new wealth elsewhere by venturing into a new territory. The development of an ascending trend of integrated and holistic global economy has made globalization a worldwide agenda that implies the opening of a border for foreign business to come in and vice versa.
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Introduction

Cultural hybridization and globalization could be closely call as an item that involved the process or activities of blending of local culture with foreign one through economic generating effort and make adjustments to fit cultural norms of adopted destination. There a various activity that predetermined the condition. More research that delve into aspect of consumer behavior and psychology in the digital economy is deemed necessary (Ling Chang, Ling Tam, & Suki, 2016; Nathan, Fook Chiun, & Suki, 2016; Suki, 2016). Accordingly, this study examines the best elements and key aspects by categorically eight main key points which resembles main component in this economic term.

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