Many problems of the contemporary world, from poverty to environmental degradation, are casually linked to the process of globalization Globalisation refers to the increased awareness among nations of the world. The term globalization is used to refer to the transmission that takes place in societies as well as the world economy (Findlay 2002). Globalization results from increased trading, cultural exchange and investment across borders. It is mainly associated with the abolition of trade hurdles among the nations involved as well as collaboration and harmonization of the institutions among these nations. For instance, the concept of globalization increased after the World War I through the World War II when institutions such as the World Bank, the International Monetary fund and the World Trade Organization were created. After the World War II, the process of globalization increased dramatically. This was highly contributed by the Global Economic Institutions. For instance, in 1970, Cross border trade and cultural exchange together with its benefits and negative effects was progressively becoming evident. This notwithstanding, the process of globalization, just like many other human happenings is influenced by the ethics and the inspiration of the people involved. As a matter of fact, Globalization should be profitable to all as it can generate positive economic outcomes (Held 1999). However, this is hardly the case. Globalization has had several harmful effects. This is seen in regards to ecological dilapidation, poverty, poor working conditions, instances of cultural hostility as well as increased inequity among individuals and nations. To start with, the people who dominate the market are seen to have neocolonial policies which they use to oppress the developing countries. These dictator nations are given loans by the global community and they never carry out their reforms as they promise, but leave the poor people to pay the debts on their behalf. Such dishonest loan associates leave the developing nations poorer than they were before (Hardt & Negri 2000). As a matter of fact, globalization leads to credit-based economies, which can result to increased debt predicaments. In addition, global aspects can also lead to loses of jobs. This can be in form of privatization of companies, currency depreciations as well as foreign investments. For instance, Zambia earned a lot of foreign exchange through the export of minerals. However, an American multi-national company withdrew its investments which made the local currency to drop by about 70% of its foreign exchange (Gilpin 2001). Such dependency among the developing nations is so immense that a major setback can lead to a drastic outcome for the dependent nations. Consequently, a decrease in foreign exchange leads to a decrease in a nation’s ability to procure staple food at reasonable prices (Bhagwati 2004). In another example, Zambia expected that it would experience a scarcity of maize in 2002. This made it necessary for the country to import the commodity from either America or South Africa. However due to the drop in foreign exchange, the country did not have the required purchasing power and thus the nation suffered severely. The more debt-ridden a country is, the more likely it is to be subjected to the harsh provisions of foreign aid, as well as multi-lateral and cor