The flexibility of financial and production components has risen in recent years as transportation, communication, and technological connections across nations have enhanced. Globalization has accelerated as a result of this growth. The process of integrating goods and capital markets in global commerce is commonly referred to as globalisation. As a result, globalisation may be characterised as the process of integrating international markets and civilizations, which is prompted by advances in communication and technology. Globalization is the process of building intra- or multi-continental networks of linkages between entities, mediated by a range of flows such as people, information and ideas, capital, and products. There are also negative consequences, such as degradation of global capital market stability, loss of cultural integrity, weakened national financial independence, greater impoverishment of nations lacking skills and capital, and failure of impoverished countries to handle openness successfully (Mutascu and Fleischer, 2011. p. 1691-1692).

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